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| *Ostroff, Fair and Company>>>India Taxes |
Tell me about PF rules, how much deducting and what are the forms using for filing return in every month& year |
What are the forms using to close a PF account? What are the break up in PF amount and what are percentages of each break up? PF rule is - Employees' share of contribution is Minimum 12% of Basic +DA. Employers' share is 12% of B+DA, out of this 8.33% of B+DA (maximum-6500) goes to EPS (Penstion fund) with the Govt.and, the balance to your PF a/c. You can close the account by filling Form 19 ,and,if the employer is exempted unit then by Form 10-C (if the total period is less than 10 years) for EPS amount and by an application to the Employer for PF amount. If the period is more than 10 years then EPS amount can not be drawn but at the age of 51-58 you can fill Form 10-D to get pension from the Govt. (RPF Commissioner) for further details you can chat with me. |
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