Paragraph 27 of epf scheme

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com )   (3468 Points)

27 November 2014  

Friends/Seniors

Can an existing subscriber to PF apply to Commissioner in prescribed Form 1 for exemption of all or some provisions on him pursuant to Paragraph 27 of EPF Scheme. Means the employee while continuing with the employer company wants to come out of PF scheme and get back the accumulations.

The paragraph is enclosed. I could not understand the meaning of proviso to Paragraph 27(1). Can anybody share his/her thoughts please.

Regards,