Hi, Is there any format/Form where an employee earning a basic salary more than 15k p.m. can choose to be exempted from PF deductions. There is an amendment to the PF rules recently.
From India, Mumbai
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1From India, Mumbai
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Employee Exemption from Provident Fund Contributions
Employers have no choice but to make the employee exempt. They must provide Form 11 to the employee to fill out and return. If the employee has any old UAN from past services, i.e., has contributed to any provident fund account in the past, they must be a member regardless of the ₹15,000 ceiling.
If the employee is joining fresh, then they have to submit Form 11 and request the employee's option not to participate in EPF. In case no communication is found in records, the EPF will consider the member as contributory and will issue a demand to the employer. It does not matter if their basic salary is above ₹15,000 or not.
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Employers have no choice but to make the employee exempt. They must provide Form 11 to the employee to fill out and return. If the employee has any old UAN from past services, i.e., has contributed to any provident fund account in the past, they must be a member regardless of the ₹15,000 ceiling.
If the employee is joining fresh, then they have to submit Form 11 and request the employee's option not to participate in EPF. In case no communication is found in records, the EPF will consider the member as contributory and will issue a demand to the employer. It does not matter if their basic salary is above ₹15,000 or not.
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EPF is increased to Rs. 21,000/- or still Rs. 15,000/- only? If there is any notification for increasing Rs. 21,000/-, kindly provide the same.
Someone has put in 25 years of service or more with a member of EPF. They are drawing more than Rs. 25,000/- consolidated. Should we deduct EPF on Rs. 21,000/- or Rs. 15,000/? Please guide me.
From India, Hyderabad
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Someone has put in 25 years of service or more with a member of EPF. They are drawing more than Rs. 25,000/- consolidated. Should we deduct EPF on Rs. 21,000/- or Rs. 15,000/? Please guide me.
From India, Hyderabad
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Calcu. pf Emp.eps.epf sample sheet for HR site..xls