Friends, The EPF, Pension Scheme and EDLIS Limit enhanced from 1st September, 2014 as per the recent notification attached herewith.
From India, Mumbai
10From India, Mumbai
yes, thanks for update. wage celing enhanced to 15000, minimum pension enhanced to 1000 and edli benefit enhanced to 20%.
From India, Mumbai
From India, Mumbai
Hi Structure can be fixed as you wish Just try Basic - 40%, HRA 40%, Other allowances (City compensatory, Medical, Performance Incentive name you can choose) % REGARDS
From India, Coimbatore
From India, Coimbatore
There is no law for break up of salary structure under any Act except HRA Act in few states as per my knowledge.
In the time of EPF limit of Rs 6500/- many employer shown break up of salary and paid contribution on only Basic and or DA part of salary, which is questioned by EPF authority and later few court cases in favor of EPF and vice versa.
Therefore, the break up of salary shall be done with keeping interest of the contribution towards EPF, EPS and EDLIS to the extent of mandatory coverage.
More light will be shown on this issue by other fraternity.
From India, Mumbai
In the time of EPF limit of Rs 6500/- many employer shown break up of salary and paid contribution on only Basic and or DA part of salary, which is questioned by EPF authority and later few court cases in favor of EPF and vice versa.
Therefore, the break up of salary shall be done with keeping interest of the contribution towards EPF, EPS and EDLIS to the extent of mandatory coverage.
More light will be shown on this issue by other fraternity.
From India, Mumbai
As per EPF Gazette 20% additional relief on the amount of assurance benefits admissible under EDLI. Can any one confirm this meaning
From India, Hyderabad
From India, Hyderabad
Dear Mr. Subbarao,
The EDLI benefit depends upon the PF Salary.
If the PF salary is Rs 6500/- for average 12 months, the deceased member was getting 6500 * 20 = Rs 130000/- as EDLI benefit. The same is increased to by 20 %.
IF average salary is Rs 15000/- * 20 = 300000+20% = 360000/- maximum will be the EDLI payment.
If the Establishment having exemption from EDLI , may have to pay minimum Rs 3.60 L under EDLI scheme.
Thanks,
Vidyadhar Bhat
From India, Pune
The EDLI benefit depends upon the PF Salary.
If the PF salary is Rs 6500/- for average 12 months, the deceased member was getting 6500 * 20 = Rs 130000/- as EDLI benefit. The same is increased to by 20 %.
IF average salary is Rs 15000/- * 20 = 300000+20% = 360000/- maximum will be the EDLI payment.
If the Establishment having exemption from EDLI , may have to pay minimum Rs 3.60 L under EDLI scheme.
Thanks,
Vidyadhar Bhat
From India, Pune
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