PF account: If you are an EPFO account holder, then a part of your salary is deposited in the PF account. In such a situation, you will have to follow many rules of EPFO. Now EPFO has given relief to some PF account holders on a large scale.
EPFO has exempted some PF account holders from filling the joint declaration form. Generally, if the basic salary of any employee is more than Rs 15000. So to get his share in the PF account, he has to submit a letter signed by the employer to EPFO.
Now EPFO has exempted some PF account holders from filling the joint declaration form. EPFO had issued a circular in this matter in the month of January. Who will get relief in the end?
Will not apply to those applying for higher pension
EPFO has made it clear in its circular that this exemption will not be available at all to those people who have applied for higher pension under the Employees Pension Scheme. All those EPS account holders must fill the joint declaration form.
These account holders will benefit
EPFO's new circular exempts those PF account holders from filling the joint declaration form. Those who have left the job or those subscribers who have died but their account is still intact will also be allowed to fill this form.
In both these categories, exemption from filling the form will be given to those account holders who have deposited more than the standard limit of Rs 15,000 and have left the job or someone has died before October 31, 2023.
Whereas among the existing members of EPF, exemption from filling the form will be given to those account holders who are paying more than the standard limit and their employer is paying the administrative charges related to it.
