PF Account Rules: Many times people have this question in their minds regarding PF accounts that whether separate money can be deposited in this account. Know what are the rules regarding this.
All the employed people in India have PF accounts. 12 percent of the salary is deposited in the PF account. The employer i.e. the company also contributes 12 percent to this PF account. PF account works like a savings scheme. You also get interest on the amount deposited in it. Along with this, when you need money for any work, you can also withdraw money from the PF account.
The PF accounts of employed people are managed by EPFO. While a part of the PF account is deposited as savings, a part of it is deposited for pension. Which is called EPS i.e. Employee Pension Scheme. Many times people have this question in their minds regarding PF accounts that whether money can be deposited separately in this account. If you also have this question in your mind then let us tell you that you can deposit money separately in a PF account.
However, for this you will have to talk to the HR of your company. If you get approval from there, then you can make a separate contribution to your account. But you will have to get the same amount deducted from your salary. But where a part of the employee’s salary is deposited in a normal PF account, the same amount is also deposited by the employer i.e. the company. However, if you want to deposit money in a separate PF account, then no contribution will be made by the company in it.
Apart from this, you will also have to take permission from the Regional Provident Fund Commissioner to deposit money separately in the PF account. According to the rules, you can contribute up to Rs 15,000 separately in the PF account.
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