Can You Opt Out of PF After a Salary Increase? Seeking Clarity on Recent Changes

Hi,

I have a clarification on "opting out of PF." I understand there was a recent revision on the PF slab, stating that up to INR 15,000 basic, PF contribution is mandatory. However, I would like to know, in the case of a salary revision where the basic increases to, let's say, INR 15,500, can an employee opt out of the PF to which they were contributing earlier?

Note: The employee is working at the same organization.

Hi,

PS - Do you have a clarification or want a clarification?

No, you cannot opt out of the PF scheme. Only employees who are eligible to stay away from this scheme are those whose salary is more than Rs. 15,000 at the entry of employment. But unless someone has got some real Warren Buffet-like skills, why would one opt out of the PF scheme which gives tax-free interest, a decent rate of interest, and tax savings all the way.