Can i voluntarily opt of provident fund facility

A provident fund member can withdraw complete amount from the fund once he attains the age of 55. Cases where withdrawal can be possible before attaining age of 55 are:

At the time of Termination of service
Retirement on account of total disablement
Migration to other countries for permanent settlement
Retrenchment

you have no choice to opt oput of provident fund.

 

Such move if accepted by the employer can land him in jail.

@ramchary......i want to know, can i ask my employer, not to deduct my pf, and close my pf account, i want to continue my job without the pf account and pf deduction. one lawyer has advised me that salary drawn above rs 15000 can be opted out of provident fund facility, voluntarily by the employee. i want to confirm if this rule is correct.

Your employer may agree to such request if he is totally devoid of minimum wisdom.

 

when you are in service he is bound to remit PF.Even if he doe snot deduct from your salary still he can be made to deposit both employee share and employer share (with heavy penalty) when he is caught employing you without PF benefit.  He can also face inprisonment.  I hope he may not volunteer for this humiliation.

 

Howesoever high salary may benow.  once you are covered then empoyer has no choice.

In EPFO there are scores complaints submitted by employees agaist employers who do nto deduct/deposit PF.

Visit nearest PF offfice or its website and many others and learn the unparralled benefits of having a PF a/c that comes with EPS,EDLI.................