DEAR ALL, WHAT IS THE MAXIMUM LIMIT FOR P.F ON EMPLOYEE PART ? IF ANY EMPLOYEE WANT TO DEDUCT HIS 100 % CONTRIBUTION. THEN PLEASE TELL ANSWER ME.
From India, Delhi
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2From India, Delhi
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Dear Satish,
An employee who wishes to contribute more than the employer's deduction portion can opt for the Voluntary Provident Fund (VPF). An employee can contribute up to 100% of their basic salary, excluding other components. To enroll in VPF, the employee needs to fill out Form No. 2A, which can be found on the EPFO (Govt. of India) website at www.epfindia.com.
For further information, feel free to contact me.
Lakshminaryana
9866917232
From India, Hyderabad
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An employee who wishes to contribute more than the employer's deduction portion can opt for the Voluntary Provident Fund (VPF). An employee can contribute up to 100% of their basic salary, excluding other components. To enroll in VPF, the employee needs to fill out Form No. 2A, which can be found on the EPFO (Govt. of India) website at www.epfindia.com.
For further information, feel free to contact me.
Lakshminaryana
9866917232
From India, Hyderabad
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Hi, You can Contribute upto 100% of your basic salary... and you have to submit form-2 in Regional EPF Office... If you need form-2 copy.... kindly let me know....
From India, New Delhi
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From India, New Delhi
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There is no limit for contribution to PF . The employee can contribute voluntarily in excess of the prescribed limit also of his basic or basic +DA & VDA as the case may be. regards
From India, Bhubaneswar
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From India, Bhubaneswar
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Apart from the actual amount if the employee paid extra amount towards PF will he get double amount when he withdraw his PF amount.
From India, Hyderabad
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From India, Hyderabad
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Dear Satish Its not like as employer contribution, employer will pay at max of 12% ( 780) so employee can get the benefits of which he paid only thanks and regards Lakshminaryana
From India, Hyderabad
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From India, Hyderabad
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In my opinion, though there is no upper limit prescribed under the EPF & MP Act, the Income Tax Department may have some queries. However, the employer will have to give consent regarding their share and the deposition of administrative charges to the RPFC.
A.K. Chandok
RPFC (Retd.)
[Note: The link provided no longer exists]
From India, Chandigarh
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A.K. Chandok
RPFC (Retd.)
[Note: The link provided no longer exists]
From India, Chandigarh
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The standard contribution prescribed by EPF is 12% of Basic+DA or VDA. An employee can contribute a maximum of 20% towards EPF, but the employer's contribution shall be restricted to 12% only. As far as I know, the 8% extra contribution by the employee towards PF shall attract income tax.
Naganand
From India, Hyderabad
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Naganand
From India, Hyderabad
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Provident Fund - Excluded Employee - Definition.pdf