Dear Shenbarajan,
An employee will be granted exemption from the EPF scheme as per Section 27 of the Employees Provident Funds Scheme, 1952, which is mentioned below:
27. Exemption of an employee
(1) A Commissioner may by order and subject to such conditions as may be specified in the order exempt from the operation of all or any of the provisions of this Scheme an employee to whom the Scheme applies on receipt of application in Form I from such an employee:
Provided that such an employee is entitled to benefits in the nature of Provident Fund, gratuity or old age pension according to the rules of the factory or other establishment and such benefits separately or jointly are on the whole not less favourable than the benefits provided under the Act and the Scheme.
Please see that the second paragraph to Section 27 (1) mentions that the employee should be entitled to benefits by the employer which are equal or better than the benefits provided under the EPF Act.
An exemption will not be granted just because the employee doesn't want to continue the same,
Regards
Arun
An employee will be granted exemption from the EPF scheme as per Section 27 of the Employees Provident Funds Scheme, 1952, which is mentioned below:
27. Exemption of an employee
(1) A Commissioner may by order and subject to such conditions as may be specified in the order exempt from the operation of all or any of the provisions of this Scheme an employee to whom the Scheme applies on receipt of application in Form I from such an employee:
Provided that such an employee is entitled to benefits in the nature of Provident Fund, gratuity or old age pension according to the rules of the factory or other establishment and such benefits separately or jointly are on the whole not less favourable than the benefits provided under the Act and the Scheme.
Please see that the second paragraph to Section 27 (1) mentions that the employee should be entitled to benefits by the employer which are equal or better than the benefits provided under the EPF Act.
An exemption will not be granted just because the employee doesn't want to continue the same,
Regards
Arun