Hi All,
Find attached herewith a Govt of India notification which has further amended the Paragraph 68 as well as 69 of the Employees Provident Fund Scheme-1952 which has now resulted in the restriction being imposed by the EPFO on the amount of Provident Fund Contribution which was till now allowed upon exit under Para-69(2)(e). Now as per the newly inserted Para-68NNNN, the employee on cessation will only be able to claim his share of PF contribution with interest thereon and the final settlement of the employee's rest of the PF account which'll represent the employer share of PF Contribution'll only be withdrawal on completing 58 years of age.
Strangely, this Notification has quietly been published with nothing being made available on the official website or anywhere else. Not even the EPF Department Officials have any clue about it having arrived and coming into force from 10.02.2016. The Department must ensure its wide publicity as it'll be having wide reaching effect on the process of final settlement after employee leaving service.
This is for benefit of all concerned.
Sincerely,
Amit Kumar
From India, Delhi
26Find attached herewith a Govt of India notification which has further amended the Paragraph 68 as well as 69 of the Employees Provident Fund Scheme-1952 which has now resulted in the restriction being imposed by the EPFO on the amount of Provident Fund Contribution which was till now allowed upon exit under Para-69(2)(e). Now as per the newly inserted Para-68NNNN, the employee on cessation will only be able to claim his share of PF contribution with interest thereon and the final settlement of the employee's rest of the PF account which'll represent the employer share of PF Contribution'll only be withdrawal on completing 58 years of age.
Strangely, this Notification has quietly been published with nothing being made available on the official website or anywhere else. Not even the EPF Department Officials have any clue about it having arrived and coming into force from 10.02.2016. The Department must ensure its wide publicity as it'll be having wide reaching effect on the process of final settlement after employee leaving service.
This is for benefit of all concerned.
Sincerely,
Amit Kumar
From India, Delhi
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
Employer-employ ee_866.jpg
Employer-PF-res trict to wages of Rs 6500.pdf