What is the minimum age and maximum for provident fund ? Can any one provide me the respective rule of provident fund act?
From India, Bengaluru
From India, Bengaluru
The eligibility age for contributing to the Employee Provident Fund (EPF) varies by country and is typically governed by the labor laws of that country. In India, for example, the Employees' Provident Fund Organisation (EPFO) manages the EPF scheme, and the eligibility criteria are as follows:
Employees: All employees working in organizations covered under the EPF Act, 1952, are eligible to contribute to the EPF scheme. This includes both private sector and public sector employees.
Age: The EPF scheme covers employees aged between 18 and 60 years. Employees beyond the age of 60 are not eligible to contribute to the EPF scheme.
Salary: Employees with a basic salary (plus dearness allowance, if any) of up to ₹15,000 per month are mandatorily covered under the EPF scheme. However, employees with a basic salary exceeding this limit can voluntarily opt to contribute to the EPF scheme.
It's important to note that eligibility criteria may vary depending on updates to the EPF Act and regulations issued by the EPFO. Therefore, it's advisable to check the latest guidelines from the EPFO or consult with a legal or financial advisor for specific information regarding eligibility and contributions to the EPF scheme.
From India, Mumbai
Employees: All employees working in organizations covered under the EPF Act, 1952, are eligible to contribute to the EPF scheme. This includes both private sector and public sector employees.
Age: The EPF scheme covers employees aged between 18 and 60 years. Employees beyond the age of 60 are not eligible to contribute to the EPF scheme.
Salary: Employees with a basic salary (plus dearness allowance, if any) of up to ₹15,000 per month are mandatorily covered under the EPF scheme. However, employees with a basic salary exceeding this limit can voluntarily opt to contribute to the EPF scheme.
It's important to note that eligibility criteria may vary depending on updates to the EPF Act and regulations issued by the EPFO. Therefore, it's advisable to check the latest guidelines from the EPFO or consult with a legal or financial advisor for specific information regarding eligibility and contributions to the EPF scheme.
From India, Mumbai
There is no lower or upper age limit mentioned for contribution to EPF. You can continue contributing to PF even after crossing the normal retirement age. However, for contributing to Pension Fund, there is an age limit and the same is 58. But if the employee is continuing in service, you should contribute the entire 12% payable by the employer solely to his Provident Fund without bifurcating it to 8.33% to Pension Fund and the reaming 3.67% to Provident Fund.
From India, Kannur
4193From India, Kannur
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PF Pension fund contribution beyond 58 years of age.pdf