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Employee provident fund applicability

Shankey Goyal (Working) (37 Points)

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

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1 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5150 Points)
Replied 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.