I am working in a Pvt Ltd Co. My basic salary is Rs 10,000/-. The company wants to deduct PF from my salary, which I don't want. Can anybody suggest what document I should provide so that the PF is not deducted from my salary?
From India, Bangalore
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From India, Bangalore
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As of now, the EPF Department is going to revise the EPF Wages Ceiling, and the ceiling is going to be increased to Rs. 15,000/-. So, if currently you opt out, it will not be for a long time as the revised ceiling will be notified within 1-2 months. Therefore, it is better to opt for EPF, as it will save you Rs. 1,560/- per month. After the revision, the savings will increase to Rs. 2,400/- with an interest rate of 8.75%, which is a good return.
Furthermore, the decision is yours. I hope this comment will help you make a good decision.
Regards.
From India, Delhi
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163Furthermore, the decision is yours. I hope this comment will help you make a good decision.
Regards.
From India, Delhi
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A simple form is available to inform your company about the non-deduction of PF. However, as per the new norms, all employees with a basic salary less than or equal to ₹15,000 shall be liable for compulsory PF. Take PF as a compulsory saving for yourself.
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From India, Delhi
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From India, Delhi
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Form 11 needs to be filled in case you do not want PF deduction.
From India, Delhi
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From India, Delhi
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respected sir if may salary is 17000 can i deduct my epf above the siling rate. plz sujest me
From India, Solan
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From India, Solan
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I am working in a private limited company. My basic salary is Rs. 10,000. The company wants to deduct PF from my salary, which I do not want. Can anybody suggest what document should I provide so that the PF is not deducted from my salary?
PF Deduction Requirements
It is mandatory to deduct PF from your salary at 12% of your basic pay, and the current ceiling is Rs. 6,500. The management contributes Rs. 780, and they may seek your opinion to either maintain this contribution or increase it to account for your tax deductions. PF deduction is a statutory requirement that you need to accept.
From India, Hyderabad
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PF Deduction Requirements
It is mandatory to deduct PF from your salary at 12% of your basic pay, and the current ceiling is Rs. 6,500. The management contributes Rs. 780, and they may seek your opinion to either maintain this contribution or increase it to account for your tax deductions. PF deduction is a statutory requirement that you need to accept.
From India, Hyderabad
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Provident Fund - Excluded Employee - Definition.pdf
SALARY with out PF Deduction.xls