Hi All, It would be great be if you would help me to understand the process to be exempted from the new pf slab . My basic is 12000/- and i dnt want pf,is their any way out? kindly reply
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Dear Prajakta ji, Your basic is Rs.12000/-. You have no option. You have no choice. PF is compulsory for you now.
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As per the PF Act, Para 2, Clause (f), an Excluded Employee means:
(i) An employee who, having been a member of the Fund, withdrew the full amount of his accumulations in the Fund (in case the employee was a member earlier and withdrew his full amount from his account).
(ii) An employee whose pay at the time he is otherwise entitled to become a member of the Fund exceeds [Fifteen Thousand Rupees] per month. (If he was not a member earlier and his basic + DA is less than ₹15,000/-, then you should enroll for PF.)
Employees have an exemption in the above two cases. If both cases are not applicable to you, then you should enroll for PF.
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(i) An employee who, having been a member of the Fund, withdrew the full amount of his accumulations in the Fund (in case the employee was a member earlier and withdrew his full amount from his account).
(ii) An employee whose pay at the time he is otherwise entitled to become a member of the Fund exceeds [Fifteen Thousand Rupees] per month. (If he was not a member earlier and his basic + DA is less than ₹15,000/-, then you should enroll for PF.)
Employees have an exemption in the above two cases. If both cases are not applicable to you, then you should enroll for PF.
From India, Mumbai
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Provident Fund - Excluded Employee - Definition.pdf