Hello All,
I am Pravin, working as an HR Officer. I want to know if someone wants to deduct more than 12% from his PF account, is it possible? If it is possible, then what is the limit of deduction?
From India, Ahmedabad
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I am Pravin, working as an HR Officer. I want to know if someone wants to deduct more than 12% from his PF account, is it possible? If it is possible, then what is the limit of deduction?
From India, Ahmedabad
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Voluntary Provident Fund (VPF) Contribution
Yes, it is called the Voluntary Provident Fund. An individual can contribute beyond the standard 12% of their basic salary and dearness allowance that flows into the Employee Provident Fund (EPF) account every month. They can contribute up to 100% of the above components every month into the same Employee Provident Fund (EPF) account. There will be no separate account for the Voluntary Provident Fund (VPF). Any transfer or withdrawal of the Employee Provident Fund (EPF) account will automatically result in the transfer or withdrawal of the Voluntary Provident Fund (VPF) account as well.
The employer is only required to contribute 12%.
From India, undefined
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Yes, it is called the Voluntary Provident Fund. An individual can contribute beyond the standard 12% of their basic salary and dearness allowance that flows into the Employee Provident Fund (EPF) account every month. They can contribute up to 100% of the above components every month into the same Employee Provident Fund (EPF) account. There will be no separate account for the Voluntary Provident Fund (VPF). Any transfer or withdrawal of the Employee Provident Fund (EPF) account will automatically result in the transfer or withdrawal of the Voluntary Provident Fund (VPF) account as well.
The employer is only required to contribute 12%.
From India, undefined
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PF-Know Employees Provident Fund-CHART-L-4. doc