As an employee can I choose to be in Pension Scheme or to be in Provident Fund Scheme? Both being pension funds, can i request employer to contribute in pension fund in stead of provident fund.
From India, Surat
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From India, Surat
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Hi,
No, EPF & EPS are statutory and compulsory on the part of the employer. Even if you place a request with your employer, they cannot do so. However, as an individual, you can invest in NPS, but you will not get tax exemption as you are already covered by EPF & EPS.
Please let me know if you need further clarification or assistance.
From India, Madras
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1015No, EPF & EPS are statutory and compulsory on the part of the employer. Even if you place a request with your employer, they cannot do so. However, as an individual, you can invest in NPS, but you will not get tax exemption as you are already covered by EPF & EPS.
Please let me know if you need further clarification or assistance.
From India, Madras
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Employee Pension Scheme, 1995.doc
Provident Fund - Excluded Employee - Definition.pdf