Recent Provident Fund Amendment: What Does the New Commutation Rule Mean for Your Pension?

I understand that there was a recent amendment effective 01.10.08 disallowing commutation facility from the pension amount at the time of settlement. Any idea what this is in detail?

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Dear Sampath,

You may find information about this at www.epfindia.com.

Regards,
Amith R.

Hi,

We have been contracted to provide foreign nationals to work in India with an MNC. I believe that the prospective employee will be subject to EPF. May I request information on the following:

1. The employee is a consultant coming on a specific project for a year and will be on a consultant contract. Does EPF apply?
2. If it does, then what is the salary cut off, if any? Will it be subject to Rs6500/- or will it be based on the actual salary (in this case about 10 lacs pm)?

Please reply.

Thanks, Vishal

Dear sir,

Is there any provision to deposit 24% of PF from the employee's side only? Please reply.

Snehal