You can increase your contribution to the PF by declaring a Voluntary PF deduction. This amount will be deducted beyond the 12% statutory deduction, this feature is only available if you are participating in PF.
- to create a new declaration use "Add Declaration" button
- to view an existing declaration use the "View" button
When you add a new declaration you can select if you want the deduction to be done as a fixed amount or as percentage of your Basic salary. You can also specify the month from which the deduction should start.
Updating a Declaration
To
update an existing declaration click on "Update" button and provide the ending
month. You will get the Update the option after the declaration has been processed
in payroll.
You can declare up-to 100% of your Basic as VPF deduction. You cannot modify
the amount of VPF for an existing declaration, you will have to close it and
submit a new declaration with the modified amount.