Contribution towards EPF

This query is : Resolved

CS Ashish Jain (Querist)
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03 April 2010 I was working (for last 2 years) in a private limited company where they were deducting Rs.780 per month towards my PF contribution and company was also contributing equally.

But recentely i have joined another compnay where company does not contribute towards the PF but they told me if you want to contribute towards the PF you can continue contributing (my basic salary is Rs.16,000 PM).

So kindly suggest me whether i sholud continue my PF account or should withdraw the money.

Please also inform me what are the advantages of continuing with PF Account.

CA Shiv

CA Shiv (Expert)
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03 April 2010 First of all give details of the PF account of earlier company so that they can contribute towards it. Give through mail for written evidence. Company will be in default if they dont contribute to PF.IF requirements to contribute for the company is there.
Also you can contribute to PPF and VPF to the 95% of the basic salary...
Also u can claim deduction u/s 80 C for Income tax. So its good way of return and future gets safe...

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