Employers typically provide employees with a Provident Fund (PF), a savings scheme that serves as a form of retirement savings and financial security.
According to the PF rules (as of 2004), all employees who draw a PF Basic of less than Rs 15000 have to contribute to PF. This is mandatory. For employees having PF Basic more than Rs 15000, the deduction/contribution will be on 15000. However in most companies, PF is applicable to all employees. There are exceptions (people who do not contribute) but these are few.
Click here to subscribe to our help videos
Related Links:
Video- To watch greytHR videos, click here.
FAQs- To read more FAQs about Voluntary Provident Fund, click here.
Documentation- To learn more about Voluntary Provident Fund, click here.
Product Update- To read about the product update, click here.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article