What do account 1,2,10,21,22 in Provident Fund stand for and what contributions are paid in this accounts?
From India, Pune
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43From India, Pune
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Hi,
Contributions paid into Account No. 1 2 10 21 22 are as follows:
Account No. 1: 12% of the salary paid to employees (as employees' contribution of PF) + 3.67% of the salary (as employer's contribution for PF).
Account No. 2: Administrative charges at 1.1% of the salary.
Account No. 10: 8.33% of the salary (maximum up to $541 per employee) (as EPS contribution).
Account No. 21: 0.5% of the salary (as EDLI contribution).
Account No. 22: 0.01% of the salary (as miscellaneous contribution).
The contribution of Account No. 2 goes to EPF, and this amount can be refunded when you leave the services.
The contribution of Account No. 10 (8.33%) can also be refunded if your service is more than 6 months and less than 10 years. Otherwise, you will not receive a refund. If your service is more than 10 years, you will receive a pension from the PF Department, but you should be 50+ years old.
Sanjeev Kwatra
sunilsanjeev@hotmail.com
From India, Delhi
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Contributions paid into Account No. 1 2 10 21 22 are as follows:
Account No. 1: 12% of the salary paid to employees (as employees' contribution of PF) + 3.67% of the salary (as employer's contribution for PF).
Account No. 2: Administrative charges at 1.1% of the salary.
Account No. 10: 8.33% of the salary (maximum up to $541 per employee) (as EPS contribution).
Account No. 21: 0.5% of the salary (as EDLI contribution).
Account No. 22: 0.01% of the salary (as miscellaneous contribution).
The contribution of Account No. 2 goes to EPF, and this amount can be refunded when you leave the services.
The contribution of Account No. 10 (8.33%) can also be refunded if your service is more than 6 months and less than 10 years. Otherwise, you will not receive a refund. If your service is more than 10 years, you will receive a pension from the PF Department, but you should be 50+ years old.
Sanjeev Kwatra
sunilsanjeev@hotmail.com
From India, Delhi
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Hi,
I worked for a company for close to 3 years and deducted VPF out of my salary for 8 months. I left the company with only a 15-day notice period for which they are demanding payment for the notice period. I don't have any complaints about that; I just wanted to know if I can still go ahead and withdraw the VPF (not the PF) from the company.
Thank you,
Ravindra
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I worked for a company for close to 3 years and deducted VPF out of my salary for 8 months. I left the company with only a 15-day notice period for which they are demanding payment for the notice period. I don't have any complaints about that; I just wanted to know if I can still go ahead and withdraw the VPF (not the PF) from the company.
Thank you,
Ravindra
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
Provident fund.zip
PROVIDENT FUND.rar