1. #1
    Unregistered

    What if I ask company to give its amount of PF and not mine?

    Generally a company deducts its part of amount and employee’s part of amount as PF.But if want not to deduct my part and only the employer’s part then will this be allowable or not? Are there any provisions related to this. If yes please guide me further.

  2. #2
    Ashok Array
    Join Date
    Jul 2012
    Posts
    2,293

    Re: What if I ask company to give its amount of PF and not mine?

    Quote Originally Posted by Unregistered View Post
    Generally a company deducts its part of amount and employee’s part of amount as PF.But if want not to deduct my part and only the employer’s part then will this be allowable or not? Are there any provisions related to this. If yes please guide me further.
    Dear Aspirant,

    See friend every thing is governed with some rules & regulations.There are employees provident fund act which governs the provident fund account of the the employees.It is not up to the employer'decision to do as he wants.
    As per PF act an amount of 12% of your basic salary is deducted per month for provident fund & the same % of amount is paid by the employer.Out of employer's contribution,8.33% goes to pension scheme for which no interest is paid & the remaining 3.67% goes to PF for which interest with the amount of employees'contribution is paid.

    There are many benifits in maintaining this account & it is not possible to get onlu employer's contribution.

    Thanks & good luck.

    Ashok

  3. #3
    Rituja Array
    Join Date
    Nov 2012
    Posts
    702

    Re: What if I ask company to give its amount of PF and not mine?

    Hello,

    Sorry there is no such provision like this.A fixed amount will be deducted from your account and the company adds that same amount and the total amount formed adding up the two is deposited in the PF account.There is no such provision where you can avoid such deduction from your account.You have one option,where you can deduct the lowest possible amont from your account.The amount is around Rs.780.Your company will also give Rs.780 from his side and total of Rs.1560 will be deposited in your PF account.You can go for lowest possible deduction for PF from your salary.

  4. #4
    Chittaranjan Array
    Join Date
    Jul 2012
    Posts
    658

    Re: What if I ask company to give its amount of PF and not mine?

    Dear friend till today, there is no system revealed that the employer will contribute to he profit and fund a/c.as per your statement it indicate's you belong to cpf category where your portion and employer's portion create fund together with interests till your retirement as a result your future will be secured that time you will enjoy.you are the servent of pvt company so generally you should not get D.A link pension so C.P.F is highly necessary to mitigate your problems' in future.so never pronounce only the fund of employer should grew Provident Fund.

    Thank You,

  5. #5
    velocity Array
    Join Date
    Aug 2012
    Posts
    72

    Re: What if I ask company to give its amount of PF and not mine?

    I don't think no company will agree for that.

    Provident Fund is the amount which is being provided to the employee for the sake of his future.

    So, this amount will not be paid to you directly.

    Only when you are leaving the company, this amount you can take it of.

    Or when you retired from any organization, you will be able to take this amount.

    It is not professional of being asked that amount.

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