An employee can opt out of the provident fund if the following criteria are met:
If he/she is a first-time employee i.e., at the time of joining the first job
The employee has his or her Basic + DA (PF Wages) more than Rs.15000/- per month
At the time of changing a job, only when he/she does not have an existing PF account number
In case of Basic salary less than 15k PF is must.
Only option is if company is not coming under the purview of PF due to less man power then no need to deduct PF.
From India, Madras
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