Hello seniors,
If an existing employee withdraws all his amount from PF and rejoins the establishment with a 15K basic, will he be treated as excluded or not?
As per the EPF Scheme, Para 69, (5) - Any member who withdraws the amount due to him under subparagraph (2) shall, upon obtaining re-employment in a factory or other establishment to which the Scheme applies, be required to qualify again for the membership of the Fund. Upon qualifying for membership, he shall be treated as a fresh member thereof.
Please clarify.
From India, undefined
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1If an existing employee withdraws all his amount from PF and rejoins the establishment with a 15K basic, will he be treated as excluded or not?
As per the EPF Scheme, Para 69, (5) - Any member who withdraws the amount due to him under subparagraph (2) shall, upon obtaining re-employment in a factory or other establishment to which the Scheme applies, be required to qualify again for the membership of the Fund. Upon qualifying for membership, he shall be treated as a fresh member thereof.
Please clarify.
From India, undefined
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Dear Friend,
Yes! You are right. If an employee withdraws their full accumulated PF, then they will be considered as a fresher. When joining a new company, if their basic salary exceeds ₹15,000, you may exempt them by filling out Form 11.
From India, Mumbai
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Yes! You are right. If an employee withdraws their full accumulated PF, then they will be considered as a fresher. When joining a new company, if their basic salary exceeds ₹15,000, you may exempt them by filling out Form 11.
From India, Mumbai
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EPF & Misc. Provision Act.1952 & the scheme.ppt
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