sritn01s ToxBingo 1800 - 1035-829 Ecs7Bingo| ‘support@taxbingo.com You ae here Home > FAQ > Provident Fund ‘Support Provident Fund Whats provident funa? Who administers the Provident Scheme / Func? What happens to the PF amount deducted from an individual's salary? Whats the procedure to withdraw & transfer the amount under Provident Fund? Whats the Contribution fr Provident Func both by the Employer © Employee? Is Compulsory for the all the employees to contribute tothe Provident Fund? ‘re Provident Fund withdrawals taxable? Cantoan be taken ageinst PF Investment? Can an individual wit draw the PF when he/she is working inthe same Company? oes PF need to be deducted for Trainees an¢ Contract Employees? (Can an Employee contribute more to EPF ithe wish todo so? What i the Limit? What is provident fund? Provident Fund fs9 mast, tm-qulied, defined cntibuton, real beet lan when coil cantrbton at the te of 128% fem bythe enpaye ar the ceploye. Who administers the Provident Scheme / Fund? Incase ofan Unouanpteabitment he Reioalroisent Funé Cormisioner (RC) amines and manages the fine, In cas of Exenpt and Exchaed Ts the ord of Tuts erie the Fd What happens to the PF amount deducted from an individual's salary? 12% of he ase salary ithe PF cantbutn. Slay he enplyer contbutes 12% t EF (Employees Provident Fund). Ot 9 the 12% canton by the em baye 15.33% goasto EPS (Enpoyees Parson Senane). What is the procedure to withdraw & transfer the amount? 1, For wthdraal Rave to sub the form 19 for employee provident und 3 For tansfor of PF account fom one employe to aot, form 13 i ust What is the Contribution for Provident Fund both by the Employer & Employee? 1. Employee contbuton of 12% of sc, LA, and eas value of food concen, ar, 2 Employer cntbation of 12% af Bade. ard eas vale food concen I any, OU of which 8.53% th ap of RA.600/- tobe pid towards FS ae ‘tom the employers conabuton alrce goes to the erployes Provident Fund Account 3 pat tom the FF contribution, the Erp ayer has Lo Be Ania charges which ines 4. 9) 1108 of bas (rnisraton charges) 0.5% or bade (Employ Developed Lina Inarance Cages) 01% of tae (Employ Developed Linked Inararce Cas) hhipshwww taxhingo.comiprvident fund Him wesritn01s ToxBingo Is it Compulsory for the all the employees to contribute to the Provident Fund? ‘Yes I iscompubow If the enpoyr is cove under Provident Fund At Are Provident Fund withdrawals taxable? Provident Funds cecerlations ae abe wndavn win 5 years rm the date of commencement of cotbuton Hence you il be ei to pay tt on the Provier une accumulson you woul receive payor tab sb, withdrawn win Seas Can loan be taken against PF Investment? "Yes An ical can akeloan spain P Invent provided hehe full cera tem ane cndons meroned under the At For more dt Ck Hrs. Can an individual withdraw the PF when he/she is working in the same Company? ‘Yes Ha/shecan widow tha PF, provided catan condone sti Fr more cea ee Mee Does PF need to be deducted for Trainees and Contract Employees? Pr nat be detuta for Trane les thy are covered under the Aprntic et 1961 wich provides cea exertions for PF deduction for tains. Fr Carre empayes thy are wen for ful isin your remiss fora ong peed f tne, he veto be considered as employes an PF ness to be dedtd. Owe, Sf they wor ont fo2 parser for ashe tne pot, ten PF neal not be acuta. 5 the duty ofthe Pancipal employe to daduet Por ba contacts. Can an Employee contribute more to EPF if he wish to do so? What is the limit? ‘Yes An Employee ca contibate moe than 124i hase wis to a5, he can give his cansent os employer. Bu employer canolcotrbute more than 12%. The It for exa velreycortoution 5 upte 100% f his base slay Other Topics SELF ASSESSMENT TAX (8) “Hx FLING USING DIGITAL SIGNATURE (6) PENSION (8) can) cearurry (5) “Ax DEDUCTION AT SOURCE (TDs) (8) USE PROPERTY (14) LEAVE TRAVEL ALLOWANCE (22) [TEREST FAM FDED OEPOST, SAVINGS reac) ‘era. cans (7) pecoune () EDICA REIMBURSEMENT (8) Fon 2688 (7) LEAVE ENCASHVENT (4) PaIMENT OF TAKES (5) ener Tax (9) NRO AOOUNT (6) ‘we FING(S1) ‘OweTER sa DEDUCTIONS (7) NRE ACCOUNT (6) ELIE UNDER SECTION 6909) ounce TAKS) Tax Pune (9) ices and Plans Value Added Service: Information Subscribe to our Newsletter sienup Fey Tax nagensn Termsot se | ayo hhipshwww taxhingo.comiprvident fund Him