PF contribution after 58 and salary more than 15000 - Is it possible to stop his PF contribution?

masifhe

One of our directors who aged 70, drawing remuneration with basic pay of more than 1 Lac. We are still paying him Pf and no EPS contribution. Is it possible to stop his PF contribution or we have to pay even his basic salary is high because he is still on the payroll and the previous deduction made.

saswatabanerjee

No. Once a person has an existing PF account you need to continue deducing his PF and depositing it into his account as long as he is employed and getting a salary.

KK!HR

PF is a very remunerative investment option, having made contribution till his 70 years of age, will be it prudent to terminate it suddenly?. PF authorities can view this as non-compliance as you are continuing to pay him salary all along.

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