Hello,
Is it required to comply with PF if any employee is receiving more than 6500 Basic + DA?
If management wishes to exempt those who are receiving more than 6500 basic + DA, what is the procedure? Please help me.
Regards,
Sarjerao
From India, Pune
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4Is it required to comply with PF if any employee is receiving more than 6500 Basic + DA?
If management wishes to exempt those who are receiving more than 6500 basic + DA, what is the procedure? Please help me.
Regards,
Sarjerao
From India, Pune
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If the salary of an employee at the time of joining is more than Rs 6500, he can be an excluded employee, and in such cases, he need not be covered by EPF. However, if he is already a PF member and his salary has been subsequently increased beyond Rs 6500, then he cannot be excluded. An employee once covered by EPF will continue to be covered irrespective of any salary hike.
Regards,
Madhu.T.K
From India, Kannur
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Regards,
Madhu.T.K
From India, Kannur
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If an employee has contributed under the PF Act before in his employment, he shall continue to contribute to the PF regardless of the salary he is currently drawing. In case it is his first job and the salary exceeds Rs 6500, then it is optional for him to decide whether to contribute or not.
From India, Madras
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From India, Madras
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I have applied for eps withdrawal scheme along with relevant form 10c. How many day will it take to get the claim of my eps?
From India, Hosur
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From India, Hosur
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Hi Mr. Jatin, P.F. is on basic +da and the ESI is to be deducted on all components except washing allowance. The rate of employee’s contribution is 12% under PF and 1.75% under ESI. v.k.gupta
From India, Delhi
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From India, Delhi
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So, as for the definition of an employee under the EPF Act, any employee receiving a salary over and above 6500 per month is considered an excluded employee, and there is no need to deduct or pay the contribution for these employees. However, if you are considering the contribution paid towards PF in CTC, it is advisable to deduct and deposit the PF. It is safer and also beneficial for the welfare of the employees.
Thanks,
S.A. Mishra
Vadodara
From India, Vadodara
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Thanks,
S.A. Mishra
Vadodara
From India, Vadodara
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E: P.F. Compliance
So, for the definition of an employee under the EPF Act, any employee receiving a salary over and above 6500 per month is considered an excluded employee. There is no need to deduct or pay the contribution for these employees. However, if you are considering the contribution paid towards PF in CTC, it is advisable to deduct and deposit the P.F. It is safer and also beneficial for the welfare of the employees.
From India, Vadodara
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So, for the definition of an employee under the EPF Act, any employee receiving a salary over and above 6500 per month is considered an excluded employee. There is no need to deduct or pay the contribution for these employees. However, if you are considering the contribution paid towards PF in CTC, it is advisable to deduct and deposit the P.F. It is safer and also beneficial for the welfare of the employees.
From India, Vadodara
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Hi,
I have joined a company from 1st July 09, and Rs. 2400/- monthly PF deductions were made from my CTC. I worked there until 3rd November 2009 (4 months). When I requested the HR department for the withdrawal of PF amount, they replied that for the withdrawal of PF amount, one must complete a minimum service period of 6 months with the company. Is it true? I also have a PPF account with SBI for the last 3 years. Can anyone help me with whether I will get the PF money?
Best Regards,
Alauddin Shaikh
From India, Mumbai
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I have joined a company from 1st July 09, and Rs. 2400/- monthly PF deductions were made from my CTC. I worked there until 3rd November 2009 (4 months). When I requested the HR department for the withdrawal of PF amount, they replied that for the withdrawal of PF amount, one must complete a minimum service period of 6 months with the company. Is it true? I also have a PPF account with SBI for the last 3 years. Can anyone help me with whether I will get the PF money?
Best Regards,
Alauddin Shaikh
From India, Mumbai
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Dear Rajesh,
As per policy, the employer will forward the claim form of PF to the PF authorities two months after the date of resigning. So, you will receive the payment within 2 and a half months after your resignation. In some cases, such as going abroad for a job, you can provide the Visa copies to the authorities; it may help you to claim your PF amount sooner.
Renjith
From India, Thiruvananthapuram
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As per policy, the employer will forward the claim form of PF to the PF authorities two months after the date of resigning. So, you will receive the payment within 2 and a half months after your resignation. In some cases, such as going abroad for a job, you can provide the Visa copies to the authorities; it may help you to claim your PF amount sooner.
Renjith
From India, Thiruvananthapuram
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Hi, Mr. Shaikh,
PF contribution is bifurcated into two heads, i.e., PF and Pension. 8.33% of Basic and D.A goes into the Pension fund, and the rest goes into the PF fund. To claim the pension fund, you need to complete at least 6 months; otherwise, you can withdraw the amount accumulated in the PF fund only.
Amit Kaushik
From India, Chandigarh
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PF contribution is bifurcated into two heads, i.e., PF and Pension. 8.33% of Basic and D.A goes into the Pension fund, and the rest goes into the PF fund. To claim the pension fund, you need to complete at least 6 months; otherwise, you can withdraw the amount accumulated in the PF fund only.
Amit Kaushik
From India, Chandigarh
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Hiii, Yes it is true, u have to work minimum 6 months period in that company. then only u can with draw your PF. Regards, Nalini
From India, Hyderabad
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From India, Hyderabad
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Dear rajesh, After resigning of employee it takes time completion of 2months it goes to PF office & from PF office it takes 45 days to get deposit.
From India, Hyderabad
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From India, Hyderabad
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Hai nalini, if 3 months period employee work means he get form-19 but not form 10(c). malini
From India, Hyderabad
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From India, Hyderabad
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It is not correct to say that a 6-month contribution to the EPF is required to make a member eligible to withdraw the amount from the EPF account. Form 19 can be submitted no matter how long the member has contributed. However, to claim the amount due to the member under the Employees' Pension Scheme 95, a minimum contribution period of 6 months is required to claim the amount by submitting Form 10C.
Sanu Soman
Manager, HR
From India, Madras
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Sanu Soman
Manager, HR
From India, Madras
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Dear Jatin, Please see the attached file which will clear your doubt.
From India, Madras
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From India, Madras
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
EPF Scheme Guidelines For Implementation Of PMGKY Credit Of Employers And Employee Contribution .pdf
EPF - Pension contribution is zero WHY.jpg