You are here

Provident Fund rules in India

Provident Fund rules in India

The Provident fund rules in India came into existence in the year 1955. The rules comprises the following sections:

  • Definitions,
  • Constitution of the Fund,
  • Nomination,
  • Subscriber’s account,
  • Conditions and rates of Subscriptions,
  • Transfer to foreign service,
  • Interest,
  • Withdrawal from Fund,
  • Payment towards insurance policies,
  • Bonus on policies,
  • Procedure on death of subscriber,
  • Method of maintaining accounts.

DEFINITIONS:

The various definitions of Provident fund rules in India are:

  • Account Officers are the officer who maintains the provident fund account of the subscriber. He has been assigned by the Auditor General of India or Government.
  • Fund is the All India Services Provident Fund.
  • Form which belongs to these rules.
  • Child is the step child or adopted child under the personal law of the subscriber.

CONSTITUTION OF THE FUND:

The Constitution Fund is maintained in India as rupees and every member subscribe to the fund. This is one of the important Provident fund rules in India.

SUBSCRIBERS ACCOUNT:

It includes the subscriber’s account. The account is prepared with the name of each subscriber and members should follow the conditions and rates of subscriptions. The amount of subscriptions fixed can be,

  • Reduced once during the course of year.
  • It can be increased twice during the course of year.
  • It can be increased or reduced based on the subscription.

CONDITIONS AND RATES OF SUBSCRIPTIONS:

The subscriber subscribes monthly to the Fund except during a period of the suspension. This can be done only when the subscriber reinstatement after the period that has passed under suspension. The arrears need to be paid for the period when the members are paying in one sum or installments.

BONUS ON POLICIES:

The subscriber won’t get any bonus during the currency of the policy. The amount of any bonus can be withdrawn only under the terms of the policy. The subscribers don’t have any option to draw the money during its currency of the policy.

Comments

Please help me..... i was working for Maitreya Project Bodh,Gaya... i have my provident fund .... but this is not continue now because that NGO stop the school.... now i am on road so now i want my provident fund withdraw now .... so how can i do this help me... help me.... help me.. Mithilesh

Help Sought, My ex-employer is not processing/furthering my PF papers to PF department, nor is he ready to give me, for no reason. Where and how should I complaint. Thanks in advance. Jeeten

What are the procedure of PF claim Res, Sir, Last 3.5 year I submitted my Pf Form at Mumbai office Agent name is Murty, They will say u will get ur pf in some days. but i am not received still now. Please inform me what are the procedure to take legal action. My details as follows. Name:-Vijay Mendon My Pf A/c No:-NH/91439/002. I was called/meet many time on this cust care no but i cant reveived proper gaidance for my PF. Kindly Help me on this my Pf Isse.I hope u give my proper status about my Pf A/c. Thanking You, Vijay Mendon

What are the procedure of PF claim Res, Sir, Last 3.5 year I submitted my Pf Form at Mumbai office Agent name is Murty, They will say u will get ur pf in some days. but i am not received still now. Please inform me what are the procedure to take legal action. My details as follows. Name:-Vijay Mendon My Pf A/c No:-NH/91439/002. I was called/meet many time on this cust care no but i cant reveived proper gaidance for my PF. Kindly Help me on this my Pf Isse.I hope u give my proper status about my Pf A/c. Thanking You, Vijay Mendon

previous employer has not paid my PF since i have not paid notice period amount. is this legal? if not, what can i do to recover my money?

hi, i used to work for jp morgan chase(Bpo) in mumbai they hve their pf a/c wth jp trustees ... I hve not completed their exit formalities n they want me to pay them so jus want to check wth u hw can i wthdraw my pf from my ex employer do they hve da right to take my pf away as per law? Kindly revert asap thxs Arpana

My ex-employer is not processing/furthering my PF papers to PF department, nor is he ready to give me, for simply siad that our application was not yet received, but i have submitted all the docements to handover to the concern HR. They are asking me the POD number which they send the courier to HEAD OFFICE.How to know that pod number. Where and how should I complaint.

If the current employer does't have PF A/c but the previces employer have a A/c. how will continou the PF A/c

HOW CAN I RECTIFY MY NAME WHICH IS MISSPELLED IN MY ACCOUNT NUMBER 1320700 WHICH IS PRINTED AS SANJOY KUMAR SAHU TO BE CORRECTED AS SANJAY KUMAR SAHOO... PLEASE ADVICE

We have obtained PR Visa for Canada and my Air Ticket on 30th Aug-2010. I am leaving from my job om 3rd August, 2010, so let me know the procedure to withdrawal amount of PF and the proceding time and also I would like to know the % of amount receivable.

Two years back I resigned my job from a company, till now I haven’t claim the PF amount, now i have an idea to claim the amount, someone is telling me that after 3 years experience from the same company i am able to claim the company investing PF amount, is it true? can anyone help me about this?

Two years back I resigned my job from a company, till now I haven’t claim the PF amount, now i have an idea to claim the amount, someone is telling me that after 3 years experience from the same company i able to claim the company investing PF amount, is it true? can anyone help me about this?

Yes, after three years PF amount will be lapsed in case you will not claim for that. And to claim for PF you have to get form filled and duly signed by your previous employer than submit to your assigned PF Office .

After deposit all the documents i am not received total amount of PF. What can i do? Thanks & Regards Sasmita Behera Mob-9883116429

pl tell me if there is a new amendment as passed agst pf in 2009-10. If amendment has passed can any one tell me about that amendment. some one told me that as per new amendment if company having more than 10 permanent employees it must to reg under pf act. pl conform me about this.

my co. is not deducting any pf 4m salary...does this makes my co. any less reliable employer compared to cos that deduct pf

Add new comment