I believe most of you know what PF is. PF or Provident Fund is a government scheme that helps an employee to save money for his old age or after retirement. During their office period, they contribute a part of their salary to this fund every month and the equal amount gets deposited by his/her employer as well. Till this, I knew everything but had no idea about what is
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NCP
days in
PF until our HR explained it to us. Whenever you are going to fill in PF monthly returns, you will need to mention this NCP. So let me tell you what it is clearly.
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What is meant by NCP days in PF?
NCP stands for Non-Contributory Period Days and denotes the number of days for which an employee has been absent in the office/work place for a particular month and no calculation for PF will be done for those days.
Suppose I have been absent for 2 days in November 2022. Then the NCP for me in the month of November is going to be 2 days and for these days, my salary will get deducted, thereby resulting in the decrease of PF contribution as well.
If there is any mistake in the NCP days in PF, how to correct it?I got very much concerned about it so asked my HR to tell me how I can edit or correct wrong NCP days in PF if required. She said that it can only be done by writing a letter to the EPF regional requesting him/her to do the required corrections.
I hope the concept of NCP
days in
PF is clear to you all now.
Read More:
How to withdraw PF for home construction?
How to check PF balance without UAN?
How to withdraw pension contribution in EPF?
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I am sure that you must have already heard about PF or Provident Fund. For those who are not very sure of what a Provident Fund is, let me tell you that PF is a government scheme which has been designed to help employees save money for their future and especially for the time after their retirement. Although I was aware of what PF meant I was not sure of NCP days in EPFO. so I asked one of my colleagues and this is what he told me.
NCP days meaning in EPFO
NCP in EPFO non-contributory period. So, as you can understand from the name, NCP days means the number of days for which an employee or a person who was working in a company has been from their workplace or from their job within a particular month. You can find your NCP days in PF when you file your PF monthly returns.
What is NCP in EPFO calculation?
Let me give you an example to explain the calculation of NCP days. Let's say you took no leave for the month of July 2023 and you are not going to take any leave for the month of July further, so your NCP days for the month of July would be zero. if you take one leave danger NCP days would be one and it will be termed as LOP or Loss of Pay. This means that one day of leave from your salary will be deducted and your PF contribution will also be lesser.
This is NCP days in EPFO.
Your key to homeownership: NoBroker’s hassle-free home loans. Read More: How to check EPF grievance registration number? How to Transfer Pension Contribution in EPF Online? How to ESign in EPFO And Register E-Sign in EPFO?
What is NCP Days in PF?
Sandhya
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2022-11-25T10:14:33+00:00 2023-08-31T19:20:09+00:00Comment
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