Respected Seniors,
Could you please clarify my below doubts??
Actually PF is deducted as below:-
12% Employee Contribution
12 % Employer Contribution (8.33 % + 3.67%)
I was informed that when an employee withdraw the PF amount during the service, he or she will be getting only 12% employee contribution + 3.67% of Employer Contribution. Is it right.
I was informed that 8.33% of Employer Contribution goes to Pension Scheme as Interest and while withdrawing inbetween, this amount will not be given to the employee. Is it right.
Please clarify.
Also what will happen to this 8.33% amount after maturity... i.e., after 58 years (After Retirement). Will it come to an employee as pension. Please explain.
Thanks
Could you please clarify my below doubts??
Actually PF is deducted as below:-
12% Employee Contribution
12 % Employer Contribution (8.33 % + 3.67%)
I was informed that when an employee withdraw the PF amount during the service, he or she will be getting only 12% employee contribution + 3.67% of Employer Contribution. Is it right.
I was informed that 8.33% of Employer Contribution goes to Pension Scheme as Interest and while withdrawing inbetween, this amount will not be given to the employee. Is it right.
Please clarify.
Also what will happen to this 8.33% amount after maturity... i.e., after 58 years (After Retirement). Will it come to an employee as pension. Please explain.
Thanks