Asked by: Seryozha Plogmannpersonal finance retirement planning
What happens if PF is not deposited by employer?
Last Updated: 22nd January, 2020
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In this manner, what if your employer does not deposit PF money?
The PF amount, if not deposited withthePF department, then only your previousemployercan be held liable to pay. To know if youremployer isdepositing your EPF contribution you can askfor acopy of Form 12, which gives the details ofmoneydeducted from an employee'ssalary.
Furthermore, can a company stop your PF? Therefore they don't deposit anything withPFcommissioner's office. Nobody can stop your PF. Youjusthave to fill up the form and submit to the respectivePFdepartment. or when you join new company just saytransfermy pf to the old account and then from thenewcompany you can withdraw pf.
Likewise, is it mandatory for employer to pay PF?
It is mandatory for an organisation employingmorethan 20 people to register with EPFO. While contributingtowardsEPF is mandatory for those earning basicwages of upto Rs 15,000. Those earning basic wages more than 15000per month,EPF contribution is notmandatory.
What is the minimum PF contribution by employer?
What is the minimum percentage ofPFcontributions by an employer in India, if yourbasic payis more than Rs. 15,000? While employees contribute 12% ofthebasic pay to EPF, the employer contributes8.33%towards the employee's pension scheme and 3.67% to theEPFitself. Employees also make matching12%contribution.