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Employees Provident Fund

What is Employees Provident Fund in India

As per the statutes of the Indian government, a person upon joining an organization which is covered under the provisions of the Employee’s Provident fund and miscellaneous provision act 1952, would immediately be considered to be covered under the Employees provident fund scheme (1952) or the Employees deposit linked insurance scheme (1976).

As per the Act, all members would have to contribute a minimum of 10% of his basic pay, DA and retaining allowance or 12% of his basic pay in case DA and retaining allowance is not a part of his or her salary. This is as per the voluntary Provident fund rules.

But in case the person chooses to increase his or her savings through the Provident fund scheme, he or she would be eligible to do the same to any amount desired by the person up to a maximum of 100% of his or her basic salary.

Provident Fund Rules

As per the contributory provident fund rules the employer is also supposed to contribute an equal amount of money towards the employees provident fund. But in case the person chooses to opt for an enhanced rate of savings the employer would not be obligated to contribute towards the same at an enhanced rate. The same 10% or 12% rate would be applicable to the employer as the case may be.

It is mandatory for all the members of the Employees provident fund scheme to put in the name or names of his or her family members as nominees to the Employees provident fund account. Thus when the person leaves the organization or upon the death of the person as the case may be the member himself or his nominated people would be getting the benefits of the contributions to the Employees provident fund including all the interest accrued by it during the tenure it was being maintained.

Comments

Is it compulsory for the organisation to adopt the employees provident fund scheme ? I am working in a partnership firm from last 10 years and the employers are evading this delibrately ? i am really worried about my future as i am 48 yrs now, please advise what could be done to pressurise the employers to set it straight and also make them penalised ?

I am working in a pvt. ltd. company. there my employer are taking advantage of 6500 basic cieling limit & they are not deducting my pf as per my higher basic. so is that OK as per tule?? also i wanted to know whose wright is this to whether pf should be deducted only on 6500 of more actual basic. i wants to contribut my pf part i.e 12% as per my acutal basic of 12000. so can you pls suggest me whether it is my wright to get deducted my pf on 12000 or not??

It is your right to get deducted 12% or more irrespective of the amount your employer pays.You have to get a written permission from the management that willingly you want to contribute the extra amount and it will be done

i want to withdral my pf amount, but my epfo didnt reply ,its all about near months ,they didnt reply ?where i go nd complained my pf account no is kn/25482/12947

you talk to the people of the office which you left. They can help you out to take the money. Through them only the proceedings should go. you can also go the regional pf office and acquire the form fill it in and get it signed by your employer and submit it. within 45 days you will get the money.

i am working in govenment office in delhi.i am very worried about for my pf. please just tell me who much the rules of PF cut in salay. 12% full amount cut the total all my salary or cut 6% cut in my plus 6% paid by company paid to my pf a/c.please tell me wht the rules in pf

12% will be deducted from your salary but there is nothing to worry because equal amount will be deposited by the company. You can take it out when ever you change your comapany.

i'm a teacher in a public school., covered under epf. tell me the maximum amount i can withdraw to buy a house.

sir, is there any rule that after 60 years, employer need not pay the contribution to the employee, if so please inform me

dear sir/ madam i am holding provident fund account from the past twelve years. still i am with the organisation. i want to withdraw the money from my account. for that what is the procedure? how much amount i can with draw? please give me information. thanking you pardeep

If an employee has worked in an organization for only 3 to 4 months then is he/she eligible for claiming provident fund after leaving the organization OR is there a minimum period for which an employee should be employed for claiming PF.

If an employee has worked in an organization for only 3 to 4 months then is he/she eligible for claiming provident fund after leaving the organization OR is there a minimum period for which an employee should be employed for claiming PF.

In case of death of a provident fund holder, is his/her nominee can get pension from the account?

Whether employers contribution under CPf also should be limited to 12% of Rs.6500/- as required under Para 26 and 29 of the Employes Provident fund Scheme ?

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