SS (VP) 20 October 2010

PF Forfeiture

Dear Colleagues,

I wish to know what is forfeiture clause in PF act? What is the applicablility?

Thanks in advance

Shashi

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SS (VP) 21 October 2010

As per the rules, if an employee want to close his account prematurely due to not continuing in work, I understand that some percentage of the accumulated amount will be deducted while payment.

Is this clause applicable now? If so what %gae etc, Requests experts to please clarify.

Thanks

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PF Forfeiture

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