Please can anyone help me in this query. What is the form required to be filled if the employee is not interested in PF?
From India, Gurgaon
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From India, Gurgaon
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According to the new notification, please confirm that your employee's basic salary exceeds the enhanced wage ceiling limit of $15,000. In this scenario, the employee is eligible for the exemption; otherwise, they will need to contribute. This wage ceiling came into effect on September 1, 2014.
From India, Mumbai
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429From India, Mumbai
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The Importance of the Employees' Provident Fund Scheme
The Employees' Provident Fund Scheme was introduced in 1952 with the objective of helping employees save for their old age, making it an asset for them. I do not understand why people are scared of contributing to the Provident Fund. I am also puzzled as to why people are skipping this benefit.
As an HR executive, you must educate people to encourage them to join the scheme and start contributing, with or without a ceiling. It has been emphasized several times in this thread to continue the contributions and not to opt-out. People might not understand now, but they will realize later when they reach retirement age, by which time it will be too late.
The latest amendment offers an option. However, in my opinion, I urge all readers of this thread not to skip contributions and to become members. In the sixties, one needed to complete 240 working days to become a member. This requirement has since been reduced to 120 days, then 60 days, and now it is exempted.
Understanding the Procedures
Procedures are designed for the benefit of employees, and it is important to understand this. Please educate all employees who are not interested in becoming members of the scheme.
From India, Bidar
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The Employees' Provident Fund Scheme was introduced in 1952 with the objective of helping employees save for their old age, making it an asset for them. I do not understand why people are scared of contributing to the Provident Fund. I am also puzzled as to why people are skipping this benefit.
As an HR executive, you must educate people to encourage them to join the scheme and start contributing, with or without a ceiling. It has been emphasized several times in this thread to continue the contributions and not to opt-out. People might not understand now, but they will realize later when they reach retirement age, by which time it will be too late.
The latest amendment offers an option. However, in my opinion, I urge all readers of this thread not to skip contributions and to become members. In the sixties, one needed to complete 240 working days to become a member. This requirement has since been reduced to 120 days, then 60 days, and now it is exempted.
Understanding the Procedures
Procedures are designed for the benefit of employees, and it is important to understand this. Please educate all employees who are not interested in becoming members of the scheme.
From India, Bidar
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Provident Fund - Excluded Employee - Definition.pdf
What is Employee Provident Fund.docx