Dear All, This is our first month of PF contribution, we want to follow restricted PF i.e maximum of 1,800 PF contributions.
My Query is :
1. Monthly EPF wages as on joining - One of our employees' Gross is 40k & basic is 20k whether we need to mention EPF wages as on joining as 20k or do we need to mention 15k due to restricted PF? As this is his first-time employment, to exclude from EPS what EPF wages is to be mentioned while adding an employee. Pls advice
2. Another employee is already a UAN holder & member under EPS, his basic salary is 25k. Do we need to mention 25k or 15k as monthly EPF wages as on joining? Pls advice
Thank you.
From India, Mangalore
My Query is :
1. Monthly EPF wages as on joining - One of our employees' Gross is 40k & basic is 20k whether we need to mention EPF wages as on joining as 20k or do we need to mention 15k due to restricted PF? As this is his first-time employment, to exclude from EPS what EPF wages is to be mentioned while adding an employee. Pls advice
2. Another employee is already a UAN holder & member under EPS, his basic salary is 25k. Do we need to mention 25k or 15k as monthly EPF wages as on joining? Pls advice
Thank you.
From India, Mangalore
Hi,
1. while UAN registration of the first employee (first time employment), please update his monthly PF wage as on joining as 20K. so he will be eligible only for EPF and not EPS. in Monthly contribution (ECR upload) you can show his EPF wages ("employer contribution") as 15000 and his EPF amount will be 1800 and EPS will be 0.
2. in the second case, you can show his actual PF wage (25K) while registering the employee as he is already under EPS.
you can limit the employer contribution to 15000.EPF will be 1250 and EPS will be 550.
Kiran Raj
From India, Mumbai
41. while UAN registration of the first employee (first time employment), please update his monthly PF wage as on joining as 20K. so he will be eligible only for EPF and not EPS. in Monthly contribution (ECR upload) you can show his EPF wages ("employer contribution") as 15000 and his EPF amount will be 1800 and EPS will be 0.
2. in the second case, you can show his actual PF wage (25K) while registering the employee as he is already under EPS.
you can limit the employer contribution to 15000.EPF will be 1250 and EPS will be 550.
Kiran Raj
From India, Mumbai
Dear Sir,
Thank you for your valuable advice, we will follow accordingly.
One clarification how can we know whether existing UAN holder is under EPS or not. Is there any way to find out. Pls advice.
And what is the EPF wages to be shown while adding employee for "existing UAN members without EPS cases".
From India, Mangalore
Thank you for your valuable advice, we will follow accordingly.
One clarification how can we know whether existing UAN holder is under EPS or not. Is there any way to find out. Pls advice.
And what is the EPF wages to be shown while adding employee for "existing UAN members without EPS cases".
From India, Mangalore
Hi,
If you do not know whether the existing UAN holder is under EPS or not please ask him to produce pass book prior to his current employment. if you found that the member is not availing EPS account prior to the current employment ,please update his monthly PF wage as on joining as 25K.
From India, Mumbai
If you do not know whether the existing UAN holder is under EPS or not please ask him to produce pass book prior to his current employment. if you found that the member is not availing EPS account prior to the current employment ,please update his monthly PF wage as on joining as 25K.
From India, Mumbai
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