Hi, If the question is how to increase the employee contribution to the provident fund the answer is given below. Registration for VPF is only for existing PF members.
If an employee wants to contribute towards a voluntary provident fund which is deposited in the same account where the employee provident fund is deposited, he/she can do so by submitting an application to the employer. This is an internal form like form 11, though form 11 is a mandatory requirement but not submitted to the PF office.
This VPF is also a % of basic salary and the % can vary from 1% to 88% of basic. As per market practice, VPF can be started from any month of the year, if the employee is already a member of the provident fund. But the changes in the % is done once a year i.e. in March.
From India, New Delhi
11If an employee wants to contribute towards a voluntary provident fund which is deposited in the same account where the employee provident fund is deposited, he/she can do so by submitting an application to the employer. This is an internal form like form 11, though form 11 is a mandatory requirement but not submitted to the PF office.
This VPF is also a % of basic salary and the % can vary from 1% to 88% of basic. As per market practice, VPF can be started from any month of the year, if the employee is already a member of the provident fund. But the changes in the % is done once a year i.e. in March.
From India, New Delhi
You can ask employee to write a simple application that mentions employee code, UAN and PF, additional voluntary contribution % and with the clause as to when the changes can be made.
Keep that application with your signature/seal in PF records.
Regards
Puran Dangwal
From India, New Delhi
Keep that application with your signature/seal in PF records.
Regards
Puran Dangwal
From India, New Delhi
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