Now You Can Get Your PF Deducted At Your Own Will

PF Deducted: Employees can deduct less than 12 percent of their salary in EPF if they wish.

The passing year has brought new happiness for salaried people. The government has now allowed the employed people to get their PF deducted at will. In fact, in the new Social Security Code Bill 2019 of the Government of India, employees have been given this permission that if they want, they can get less PF deducted at their convenience. This new bill has been approved in the Union Cabinet on Wednesday. Soon this bill can be introduced for the approval of Parliament.

No benefit to employer

Significantly, this is not going to benefit the company employing the employer. Employers will have to pay their full 12 per cent. It may be recalled that the Employees Provident Fund, ie EPF 12 employees and a total payroll of employers, both – is contributing 12 percent. But now, after the approval of this bill, if employees want, they can get less than 12 percent cut in EPF .

Also Read: PF Deducted Public Provident Fund Rules: New Rules Of Public Provident Fund – Deposit Amount Will Not Be Attached Now

Big announcement for workers

The government has made a big announcement for workers in the unorganized sector in this new Social Security Code Bill 2019, under which they will be given a unique identification code which will be in the card format. This unique identity card will be linked to the Aadhaar card, in which related information of that worker will be available. Through this card, workers will be able to take advantage of all government facilities.