I was reading an article where it was stated that if an employee whose salary (Basic plus DA) is more than 15k at the time of the entry of employment can stay away from the EPF scheme. Is this true?
If yes, then it means the company also need not pay EPF for the employee, or is this exemption only for employee contribution and not for Employer Contribution?
From India, Delhi
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If yes, then it means the company also need not pay EPF for the employee, or is this exemption only for employee contribution and not for Employer Contribution?
From India, Delhi
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Do not confuse with contributions. If it is applicable, you need to recover both contributions as such. But as per the act, any salary >15K drawn by an employee, you need not recover EPF contribution. Needless to say, do not pay employer contribution for that employee also.
From India, New Delhi
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Does this mean that if the employee is earning more than 15k then he can waive of EPF ?
From India, Mumbai
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absoluted. those drawing more than 15k called excluded employee under the EPF Act you need not recover contribution for them.
From India, New Delhi
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From India, New Delhi
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EPF-Circular-da ted-23-May-2011 -Splitting-of-M inimum-Wages-fo r-the-Purpose-o f-PF-Contributi on-Not.pdf
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