Providend Fund

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2010 Respected Expert,

Is there any option for an employee not to opt for PF?

As per my knowledge if monthly income is more than Rs 6500/- an employee can opt not deductiong PF.

What will be the situation if company was deduction PF during previous yr but during current year employee decided not to deduct PF because of above option?

Regards

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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15 December 2010 What will be the situation if company was deduction PF during previous yr but during current year employee decided not to deduct PF because of above option?

This is not possible. Once PF deducted you can not opt out.

For detail info see below link---

https://www.caclubindia.com/forum/employee-provident-fund-faq--108075.asp

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2010 Even though an employee do not want to go with PF?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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16 December 2010 If Salary Exceed 6500 Then PF Mandatory to Be Deducted provided Certain Conditions also Fulfilled.

Otherwise Employer Will Be Penalised Under PF Act 1952.

Querist : Anonymous

Querist : Anonymous (Querist)

21 December 2010 Dear Sir,

I have heard entirely opposit view. Let me frame my query again

1) Is there any provision/notification or circular which exempt an employee or employer from deducting Providend Fund? If yes please give me its refrence.

2) If answer to above query is yes than what will be the situation if in the previous year the same deduction has been made for a same employee?

3) If answer to query 1 is yes than what will be the situation if company is deducting PF but a new employee do not want to opt for PF?

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2010 can any one pls reply? I need it urgently.