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ZestyNarwhal
ZestyNarwhal
Meesho

EPF contribution

Which option you've picked for EPF contribution?

Is it a conscious choice? If yes, why?

Rs. 1800 per month
12% of base salary
384 votesexpired
18mo ago
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QuirkyNugget
QuirkyNugget
Stealth18mo

For most it's not an option

ZestyNarwhal
ZestyNarwhal
Meesho18mo

Which option does your company force on you?

PrancingDonut
PrancingDonut
Arm18mo

12%

SillyPenguin
SillyPenguin
Salesforce18mo

Is there any option available? How to select it?

ZestyNarwhal
ZestyNarwhal
Meesho18mo

Talk to your employer. A lot of major companies allow you to choose.

BouncyNarwhal
BouncyNarwhal
Sprinklr18mo

But they take the employer’s contribution out of your ctc as well. So your inhand will go down drastically. Not only will you increase employees but the employer’s contribution as well

SparklyPenguin
SparklyPenguin
Apple18mo

It was 12%. But lately I have realized the Epfo website is so screwed up and the SI which made it didn’t use logic. Here’s are some challenges -if any of your ex or current employer has entered wrong kyc details in any of the member IDs in the UAN, it’s an ordeal to get it changed.
-ideally if any one of the member Id is correct with Kyc linked, the other member Id should get updated. But , wait - they like it the hard way. Submit online the 3 id proofs, then a Joint declaration by employer (ex Incase of old details are incorrect)

  • wait for months to get it changed. Raise grievance through EPF grievance portal.
    -keep chasing. 2 years into my new employer and Pf transfer hasn’t happened.
  • the website is horrible. Every step is OTP driven and half the time the sms gateway fails.
  • imagine the plight. If you are in your 60s and have to get your money withdrawn .

While EPF and VPF are good saving investments (in a way a something you won’t actively spend and monitor), I think i have my reasons to move from 12% to 1800. The only catch is 7.5lacs exemption that cna come via PF, PPF, NPS, etc combined.

Long comment, sorry about it

JazzyDonut
JazzyDonut
Cognizant18mo

I think it should be 12% , the more PF detect more money will save for future, by taking in hand you might spend all hour money but if keep in PF it will save one place and interest keep add. I am working past 11 year and so for my PF amount is around 10 lac I never took out my PF amount. I am planning to-increase my PF contribution more with my next job.
this is just my personal view , suggest if any thing required Thanks.

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