Hi Can anyone tell me the maximum age for enrolment in PF?I know if a person has crossed 58 years he is not eligible for enrolment in Pension scheme.L.Balaji
From India, Tiruppur
17From India, Tiruppur
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Yes, a person who has completed 58 years of age or one who is already receiving a pension cannot become a member of EPS. However, at the same time, he can be a member of the Employees' Provident Fund. His contribution along with the employer's contribution will go to EPF only.
Regards, Madhu.T.K
From India, Kannur
Regards, Madhu.T.K
From India, Kannur
Hi,
After 58 years, you cannot provide employment in the industry on the actual payroll as per rules; you can hire on a contractual basis. If you choose to employ someone after 58 years on the payroll, then you must deduct PF if their Basic Salary is fixed at less than Rs. 6500/- per month.
Thanks & regards,
Manoj Kumar
From India, Delhi
After 58 years, you cannot provide employment in the industry on the actual payroll as per rules; you can hire on a contractual basis. If you choose to employ someone after 58 years on the payroll, then you must deduct PF if their Basic Salary is fixed at less than Rs. 6500/- per month.
Thanks & regards,
Manoj Kumar
From India, Delhi
If an employee joined the organization at the age of 60, is the deduction of PF valid? Does it make any difference if the internal rules of the organization state the age of retirement as 60?
Please advise.
From India, Mumbai
Please advise.
From India, Mumbai
The age of superannuation is an internal matter of an organization. Therefore, if the policies of the company permit, you can employ persons above 60 years of age also. There is nothing wrong in deducting EPF also. However, the entire 12% payable/contributable by the employer should go to the Employees Provident Fund only and not like 8.33% to the Pension Fund and the balance to EPF.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
Dear,
If you hire any person after the age of 60 years, this is a violation of the rules. If you have hired any person over 60 years, then you should have a certified standing order in the company specifying the age limit, otherwise, you can hire the person as a consultant or on a contractual basis as per the agreement.
Thanks & regards,
Manoj
From India, Delhi
If you hire any person after the age of 60 years, this is a violation of the rules. If you have hired any person over 60 years, then you should have a certified standing order in the company specifying the age limit, otherwise, you can hire the person as a consultant or on a contractual basis as per the agreement.
Thanks & regards,
Manoj
From India, Delhi
Dear Friends,
As per the Employees' Pension Scheme, if the employee crosses the age of 58 years, he is not eligible for the EPS scheme. However, he is eligible for the Provident Fund. Permission may be required from the RPF office for this, as the interest rate will be calculated. It is also the duty of the employer to inform the employee in writing using Form 10. These matters depend on the company's policy. If the management is unwilling to put the employee on the payroll, then he is also not eligible for that.
Regards,
PBS KUMAR
From India, Kakinada
As per the Employees' Pension Scheme, if the employee crosses the age of 58 years, he is not eligible for the EPS scheme. However, he is eligible for the Provident Fund. Permission may be required from the RPF office for this, as the interest rate will be calculated. It is also the duty of the employer to inform the employee in writing using Form 10. These matters depend on the company's policy. If the management is unwilling to put the employee on the payroll, then he is also not eligible for that.
Regards,
PBS KUMAR
From India, Kakinada
Dear Yes, MR. PBS kumar is right, before engaging , its better to ask to RPF office. otherwise engaged on contact basis. if you need a draft letter .plz ask for the same Mahesh Patel
From India, Ahmadabad
From India, Ahmadabad
Dear All,
Please let me know if allowances can be included in the calculation of ESI. If we consider the following salary structure:
BASIC: 5000/-
HRA: 2500/-
TRANSPORT ALLOWANCE: 2000/-
MANAGEMENT ALLOWANCE: 510/-
After that, can we calculate ESI for this individual, or is it exempt from ESI? Please clarify this.
Manoj Kumar
From India, Delhi
Please let me know if allowances can be included in the calculation of ESI. If we consider the following salary structure:
BASIC: 5000/-
HRA: 2500/-
TRANSPORT ALLOWANCE: 2000/-
MANAGEMENT ALLOWANCE: 510/-
After that, can we calculate ESI for this individual, or is it exempt from ESI? Please clarify this.
Manoj Kumar
From India, Delhi
Dear Aby Jose,
As Mr. Madhu specifically stated, joining and retirement are internal matters of the organizations, which are to be dealt with separately. Regarding enrollment in EPF and EDLI, there is no age bar, except in the case of EPS. The Act never restricts in terms of age. Accordingly, there is no question of quoting the provision. As the Act is silent on this issue, it is the obligation of the concerned parties who segregate before and after 58 years to quote their base/provision.
Abbas.P.S
From India, Bangalore
As Mr. Madhu specifically stated, joining and retirement are internal matters of the organizations, which are to be dealt with separately. Regarding enrollment in EPF and EDLI, there is no age bar, except in the case of EPS. The Act never restricts in terms of age. Accordingly, there is no question of quoting the provision. As the Act is silent on this issue, it is the obligation of the concerned parties who segregate before and after 58 years to quote their base/provision.
Abbas.P.S
From India, Bangalore
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