If I close my PF, will I receive both my PF amount and Employer Contribution? My question is whether I will receive the employer contribution amount of 3.67% or 36.67% + 8.33%. Kindly provide me with the answer.
You will get a PF amount of Rs 12% as an employee contribution and 3.67% as an employer contribution. Additionally, there is an 8.33% contribution from the employer towards the pension fund if you have not completed 9 years and 6 months of service. The 8.33% payment is subject to the payment table determined by the PF officials.
Regards,
Krishan Moorthy
[Phone Number Removed For Privacy Reasons]
PF calculation is below. Employee contribution is 12%, which will go directly to the PF A/C. Employer contribution is divided into two parts: 3.87% for PF AMT and 8.33% for pension AMT. The ceiling for pension is 6500. Any amount exceeding this (above 541) will be credited to the PF.
Regards,
Murugesan
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