Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
27 November 2014Friends/Seniors
Can an existing subscriber to PF apply to Commissioner in prescribed Form 1 for exemption of all or some provisions on him pursuant to Paragraph 27 of EPF Scheme. Means the employee while continuing with the employer company wants to come out of PF scheme and get back the accumulations.
The paragraph is enclosed. I could not understand the meaning of proviso to Paragraph 27(1). Can anybody share his/her thoughts please.
Regards,
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 28 November 2014
Hi,
You can have your own PF fund or EDLI scheme or pension scheme and ask for exemption from PF commissioner for EPF contributing towards such benefits.
say e.g. your co. can take EDLI from another insurannce company like LIC / ICICI pru etc. in which coverage should be more or equal to coverage granted by EPF.
Thanks
CAclubindia
