PF Account Rules: Many times people have this question in their minds about PF accounts that whether money can be deposited separately in this account. Know what are the rules regarding this.
PF account works like a savings scheme in a way. You also get interest on the amount deposited in it. Along with this, when you need money for any work. So you can also withdraw money from the PF account.
All the employed people in India have PF accounts. 12 percent of the salary is deposited in the PF account. In this PF account, a contribution of 12 percent is also given by the employer i.e. the company.
PF accounts of employed people are operated by EPFO. While a part of the PF account is deposited as savings. At the same time, some 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 about 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 the 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 contribute separately to your account. But you will have to get the same amount of salary deducted from it.
But where a part of the employee’s salary is deposited in a normal PF account, the same amount is also contributed by the employer i.e. the company. However, if you want to deposit money separately in a PF account, then no contribution will be made by the company.
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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