If the basic+DA of an employee has increased more than Rs 15000/- due to promotion, if he desire, can he be exempted from PF contribution

HR MH

The basic+DA of an executive has been increased due to promotion and now his revised basic+DA is more than 15000/-. Now he desire to give up his PF benefit. But, since, he is a member of PF since joining, is it possible for him to give such declaration??

Malay Gauri Consultants Pvt Ltd

An EPF Member can not discontinue his membership, while is employment.
Answer to your querry is "No option "

ameytanak

In this case, the only way an employee can opt out of PF would be when he resigns from the organisation and then withdraw and close the active UAN. Till then he would have to be in pf.

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