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The account will be discontinued and the employee can withdraw the funds when he wants.
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∙ 11y ago
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Can a company open PPF account for employee instead of PF account?
No.
Can a company deduct provident fund from employee's salary without providing account number of respective Pf account number?
No. The moment they start deducting PF from your account, they are bound to disclose the PF account number to the employee. It is our right to know where our money is being deposited.
How do you know cm-pf number of voluntary retirement employee?
If you are the employee, you can check with your employer or visit the regional epf office to find out the pf account number
When should the company start giving PF to the employee?
Right from day one when an employee joins, his PF benefits must begin. The PF will be paid out when the employee retires or resigns permanently and will not be taking up any job for at least 3 months. In case of a job switch, the pf account will get transferred to the new employer
How do you find out the establishment code in pf?
For eg, if your pf account number is TN/34345/1720 TN is the state 34345 is the establishment code 1720 is the employee number
Whether ctc included employee pf and employer pf?
Yes. CTC includes both Employee and Employer PF contributions
What is the eligibility of epf1952?
we are running a company now we want to open pf account of our employee what is the processor of it and how huch time it will tack
Can we open PPF account of employee in company instead of PF account?
No. This cannot be done. A PPF Account is not mandatory for employees from an employer perspective but a PF account is. The government Mandates Provident Fund deduction for all permanent staff of companies. The PPF is a service which is available for interest citizens but it is not mandatory.
What is ee amount in pf?
ER Stands for the Employer Contribution in your PF Amount.
Is a company having less than 20 employees should be registered on pf?
Some establishments having less than 20 employees would also be required to obtain PF registration but that is voluntary registration. All the employees will be eligible for a PF from the commencement of their employment and the responsibility of deduction & payment of PF lies with the employer.
What journal entry for provident fund?
To record employee contributions to the provident fund: Debit Provident Fund Expense and Credit Employee Contribution Payable. To record employer contributions: Debit Provident Fund Expense and Credit Employer Contribution Payable.
How do you withdraw pf money?
Go to the EPF India website, create an account using your PF Account details and check it online
