Queries Regarding PF in a Startup IT Company
I am working in a startup IT company where the total number of employees is less than 20, and my basic salary is more than 6500. The company has included their PF contribution of 3349.20 in my CTC and is showing the deduction as follows:
Employee Contribution - 3349.20
Employer Contribution - 3349.20
Professional Tax - 200
TDS - 3390
Please note that in my previous company, my basic was 12000, and I had opted out of PF. Hence, my query is whether the above deduction is correct, and can I opt out of the PF scheme? If so, what do I have to do?
An early response will be highly appreciated.
Regards,
Saurav
I am working in a startup IT company where the total number of employees is less than 20, and my basic salary is more than 6500. The company has included their PF contribution of 3349.20 in my CTC and is showing the deduction as follows:
Employee Contribution - 3349.20
Employer Contribution - 3349.20
Professional Tax - 200
TDS - 3390
Please note that in my previous company, my basic was 12000, and I had opted out of PF. Hence, my query is whether the above deduction is correct, and can I opt out of the PF scheme? If so, what do I have to do?
An early response will be highly appreciated.
Regards,
Saurav