Dear All,
Can someone shed light on the below-mentioned point? What is the procedure if an employee wants to start the deduction of PF from his/her salary? I am referring to a scenario where the employee's salary exceeds the limit (more than 6500) where deduction is not mandatory. However, if someone wishes to initiate it after, let's say, a year, what procedure needs to be followed? Would the contribution remain the same? 12% from both sides?
Kindly guide.
Regards,
Chaitali
From India, Vadodara
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35Can someone shed light on the below-mentioned point? What is the procedure if an employee wants to start the deduction of PF from his/her salary? I am referring to a scenario where the employee's salary exceeds the limit (more than 6500) where deduction is not mandatory. However, if someone wishes to initiate it after, let's say, a year, what procedure needs to be followed? Would the contribution remain the same? 12% from both sides?
Kindly guide.
Regards,
Chaitali
From India, Vadodara
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MEMBERSHIP:
At the inception of the scheme, an employee who was in receipt of pay up to p.m. and who worked for one year was eligible for membership of the fund. As a result of amendments made from time to time, the conditions of eligibility for membership of the fund have been liberalized in favor of the employee. Presently, an employee at the time of joining the employment and getting wages up to is required to become a member. Now, an employee is eligible for membership of the fund from the very first date of joining a covered establishment.
For your reference: http://www.epfochennai.tn.nic.in
Regards,
Ganesh,
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At the inception of the scheme, an employee who was in receipt of pay up to p.m. and who worked for one year was eligible for membership of the fund. As a result of amendments made from time to time, the conditions of eligibility for membership of the fund have been liberalized in favor of the employee. Presently, an employee at the time of joining the employment and getting wages up to is required to become a member. Now, an employee is eligible for membership of the fund from the very first date of joining a covered establishment.
For your reference: http://www.epfochennai.tn.nic.in
Regards,
Ganesh,
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The employee will be required to fill out Form 2 (revised) for registration. You can log on to www.epfindia.com for more details.
From India, New Delhi
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From India, New Delhi
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Hi Chaitali,
You can now begin the deduction of PF for excluded employees (i.e., those earning above 6500/-). Firstly, discuss with your employer the contribution they will make, whether up to the prescribed limit or based on the entire pay (basic + d.a.). Afterward, deduct 12% from the pay, and the employer will contribute as agreed upon.
Also, complete Nomination Form No. 2 and submit a joint declaration to the PF authority (both from the employee and the employer) as outlined in para 26 of the EPF Scheme. Feel free to reach out to me for further assistance.
My email id is hrshah1710@rediffmail.com.
Regards,
H.R. Shah
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You can now begin the deduction of PF for excluded employees (i.e., those earning above 6500/-). Firstly, discuss with your employer the contribution they will make, whether up to the prescribed limit or based on the entire pay (basic + d.a.). Afterward, deduct 12% from the pay, and the employer will contribute as agreed upon.
Also, complete Nomination Form No. 2 and submit a joint declaration to the PF authority (both from the employee and the employer) as outlined in para 26 of the EPF Scheme. Feel free to reach out to me for further assistance.
My email id is hrshah1710@rediffmail.com.
Regards,
H.R. Shah
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