Amit Penkar (service) (35 Points)
20 March 2010Hi, ours is the pvt. ltd. company, one of the employee in our office whose salary is 25K who was contributing to PF want to stop contributing due to his personal cash problems.
Can he do so? Can he withdraw the amount lying in the fund. Do company has any further obligation?
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14487 Points)
Replied 20 March 2010
You can take loan after seven years completion of service. which is none refundable (It will knowne as advance) you can continue your EPF. if you will leave job after 30 days you can apply for withdrawal. you will get after 60 days. so get advance solve your problems. and continue your share for future.
VANDANA
(MCOM II ICWAI INTER Working as an ACCOUNTANT BCOM 1ST CLASS)
(491 Points)
Replied 20 March 2010
| Originally posted by : Amit Penkar | ||
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Hi, ours is the pvt. ltd. company, one of the employee in our office whose salary is 25K who was contributing to PF want to stop contributing due to his personal cash problems. Can he do so? Can he withdraw the amount lying in the fund. Do company has any further obligation? |
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an employee having a BASIC SALARY + D.A. More than RS. 6500/- can stop a contributing to PF.. its optional to only these empoyee..
an employee having a BASIC SALARY +D.A. less than RS. 6500/- must hav to contribute to Provident fund its compulsory..
regd,
VANDANA
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