Very informative. But to my knowledge even an employee who newly joins in a company with the basic pay of above Rs 6500/-, companies are compulsorily deducting PF. No option for an employee to decide whether he can be member or non-member for PF.
My Basic is above Rs 6500/- (I worked with various MNC companies) but none of the employer has given me a option to avail PF or not.
Very informative. But to my knowledge even an employee who newly joins in a company with the basic pay of above Rs 6500/-, companies are compulsorily deducting PF. No option for an employee to decide whether he can be member or non-member for PF.
My Basic is above Rs 6500/- (I worked with various MNC companies) but none of the employer has given me a option to avail PF or not.
| Originally posted by : Dhanya Sreedhar | ||
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Very informative & Good descriptttion on PF .....Thanx for sharing... |
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| Originally posted by : Anbuselvam | ||
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Very informative. But to my knowledge even an employee who newly joins in a company with the basic pay of above Rs 6500/-, companies are compulsorily deducting PF. No option for an employee to decide whether he can be member or non-member for PF. My Basic is above Rs 6500/- (I worked with various MNC companies) but none of the employer has given me a option to avail PF or not. |
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Hey thanks for a feedback.. However now u know the law & you can opt out while joining new co.
Howevercomany may not grant such option in favour of employee!!
Mast Lakhyu che!!!
I hve one q..if employee could not serve for continues ten years he would get only PF accumaltions and not Pension fund amount???
Thanks for sharing!!
| Originally posted by : CA Madhvi | ||
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No, even an employee who worked for a year, he can get full PF amount which he & employer paid for that period. His share employer share+Interest. For this he has to fill and submit one more form to PF so that Pension fund amount also will be paid to the employee |
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| Originally posted by : Anbuselvam | ||
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Originally posted by : CA Madhvi Mast Lakhyu che!!! I hve one q..if employee could not serve for continues ten years he would get only PF accumaltions and not Pension fund amount??? Thanks for sharing!! Hi Madhvi, No, even an employee who worked for a year, he can get full PF amount which he & employer paid for that period. His share employer share+Interest. For this he has to fill and submit one more form to PF so that Pension fund amount also will be paid to the employee Ok..Thanks!!! |
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| Originally posted by : CA Madhvi | ||
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Mast Lakhyu che!!! I hve one q..if employee could not serve for continues ten years he would get only PF accumaltions and not Pension fund amount??? Thanks for sharing!! |
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ThanQ.. When you complete 10yrs of services & you leave ur job, you will get pension after completion of 58 yrs of Age. And if you resign before completion of 10 yrs, you will get accumulated pension amount.
have one suggestion..Wrtie on ESI Scheme...if u have source..
Gr8 post
| Originally posted by : TusharSampatM.Com CA,CS-FINAL | ||
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BOOKMARKED!!! |
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But vaibav g to my knowledge pf contribution is compulsary for all employees and employees may have and option for contributing vol. cont. to make pf on above 6500 or they may not give vol cont. but even salary received above 6500 it should pf paid minimum for 6500
good and informative
| Originally posted by : ANAND S | ||
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But vaibav g to my knowledge pf contribution is compulsary for all employees and employees may have and option for contributing vol. cont. to make pf on above 6500 or they may not give vol cont. but even salary received above 6500 it should pf paid minimum for 6500 |
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Above 6500 emplyer are not compulsorily required to contribute, however he may contribute upto 6500 for employee benefit ..
Thanks!!
| Originally posted by : CA Madhvi | ||
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have one suggestion..Wrtie on ESI Scheme...if u have source.. |
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yep sure... next will be urs in dis week..
One more on PF is ther.. PF on J&K..
Rules are different that i will post tomorrow...
| Originally posted by : @ VaibhavJ | ||
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Originally posted by : ANAND S But vaibav g to my knowledge pf contribution is compulsary for all employees and employees may have and option for contributing vol. cont. to make pf on above 6500 or they may not give vol cont. but even salary received above 6500 it should pf paid minimum for 6500 Above 6500 emplyer are not compulsorily required to contribute, however he may contribute upto 6500 for employee benefit .. Thanks!! |
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Agreed..
CAclubindia
