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Employee provident fund applicability

759 views 1 replies

Shankey Goyal

Working

37 Points Posted on 07 December 2014

Currently I am working in an organization where my employer is deducting EPF for last one year and now looking for the change. Got an offer from another organization which is PVT LTD but they are saying that they do not have EPF account policy for their employees (Total employees are more than 20 & salary offered is more than Rs. 15,000/-). I want to know:

1. If an organization can skip EPF contriution scheme voluntarily.

2. What will happen to the contributions I have made yet, if I will join that organization and will no more contribute to EPF scheme.

Thanks

Replies (1)

Rama chary Rachakonda

Master in Accounts & high court Advocate

9620 Points Posted on 15 December 2014

As far as PF is considered, it is mandatory, the amount will be automatically deducted from the basic pay, but once the pf account is closed it can not be reopened and it is completely customized, once you leave the company your pf number will change, and it will be given according to the roll number of your new company registered with the PF Authority. No option is given to you to close the PF account as it is mandatory until you leave the company.