In certain organisations, when the service is likely to be < 10 years, they dont contribute to EPS, but the whole 12% of employer's contribution is remitted towards EPF instead of 3.67% to EPS.In such cases, if an employee retires before completing 10 years of service, is he/ she eligible for withdrawal benefit from EPS, even after getting 12+12% of EPF?
From India, Bangalore
From India, Bangalore
Hi Sir,
As per PF Act, if one employee services is below 10 year, he/she get eligible for withdrawal EPS and EPF also. So he/she can withdrawal that Employee Contribution 12% + Employer Contribution 12% also with interest rate. but he/she services is 10 year and above means, that employee can withdrawal only Employee Contribution 12% + Employer Contribution 3.67% only. than remaining 8.33% goes to pension scheme. (scheme certificate)
From India, Coimbatore
4As per PF Act, if one employee services is below 10 year, he/she get eligible for withdrawal EPS and EPF also. So he/she can withdrawal that Employee Contribution 12% + Employer Contribution 12% also with interest rate. but he/she services is 10 year and above means, that employee can withdrawal only Employee Contribution 12% + Employer Contribution 3.67% only. than remaining 8.33% goes to pension scheme. (scheme certificate)
From India, Coimbatore
Dear friends,
Those who join EPF before completing the age of 58 years, have to contribute to EPS. Whetherthe service is below 10 years or above 10 years are immaterial regarding contribution.
But if member has a service of 10 years or more in EPS, pension can be availed. Otherwise one time withdrawal benefit is the only option.
Abbas.P.S
From India, Bangalore
Those who join EPF before completing the age of 58 years, have to contribute to EPS. Whetherthe service is below 10 years or above 10 years are immaterial regarding contribution.
But if member has a service of 10 years or more in EPS, pension can be availed. Otherwise one time withdrawal benefit is the only option.
Abbas.P.S
From India, Bangalore
Good morning all of you,
01) I have one doubt that in PF, suppose I resigned for one organizational and joined in another organization,
Shall I draw my PF contributions 12% + 3.67% (Except 8.33%),
02) In new organization my basic is more than Rs15000/- (Fifteen thousand only), shall I am eligible for PF contributions even
though more than Rs.15000/- (Shall I transfer only my pension amount contributions to my new account)
03) Is there any Act is amended for enhanced no.of employees, applicable for the organization / firm.
K. Veer Bhadrayya
Pers & Admn
From India, Hyderabad
01) I have one doubt that in PF, suppose I resigned for one organizational and joined in another organization,
Shall I draw my PF contributions 12% + 3.67% (Except 8.33%),
02) In new organization my basic is more than Rs15000/- (Fifteen thousand only), shall I am eligible for PF contributions even
though more than Rs.15000/- (Shall I transfer only my pension amount contributions to my new account)
03) Is there any Act is amended for enhanced no.of employees, applicable for the organization / firm.
K. Veer Bhadrayya
Pers & Admn
From India, Hyderabad
Dear Madams / Sir's
Regarding this is attendance closing, we have recently introduced attendance closing system up to 25 th of every month, earlier attendance was taken for calculation and process the salaries from 1st onwards to 30/31 month ending.
Recently we changed cut of date is up to 25th of every month, but the doubt is raised my colleagues that if any employee is joined after 25th we need not to pay for that particular month. But I say that for newly joining employees should get salary for particular days he was worked, I said that attendance closing is different and month payment salary is different.
Can any some you, explain this process of salary and new join employees and settlement of the candidates.
01. if one employee joined on 21st of the Nov-2014 month, he should get 10 days salary for that particular month.
but my co-workers are argued that no he should not get.
Please clarify my doubts.
K. Veer Bhadrayya
Pers & Admn
Sri Krishna Pharmaceuticals Ltd.
From India, Hyderabad
Regarding this is attendance closing, we have recently introduced attendance closing system up to 25 th of every month, earlier attendance was taken for calculation and process the salaries from 1st onwards to 30/31 month ending.
Recently we changed cut of date is up to 25th of every month, but the doubt is raised my colleagues that if any employee is joined after 25th we need not to pay for that particular month. But I say that for newly joining employees should get salary for particular days he was worked, I said that attendance closing is different and month payment salary is different.
Can any some you, explain this process of salary and new join employees and settlement of the candidates.
01. if one employee joined on 21st of the Nov-2014 month, he should get 10 days salary for that particular month.
but my co-workers are argued that no he should not get.
Please clarify my doubts.
K. Veer Bhadrayya
Pers & Admn
Sri Krishna Pharmaceuticals Ltd.
From India, Hyderabad
Dear Sir,s
a new and first time union was formed and it is registered in labour department, and they submitted charter of demands to the management for collective bargaining for wage agreement settlement.
Is there any Act to recognize union, is there any statutory obligation to recognize the newly formed and registered union.
Any legal law.
If Management is not giving recognize to the union. Is there any consequences.
K. Veer Bhadrayya
P&A
From India, Hyderabad
a new and first time union was formed and it is registered in labour department, and they submitted charter of demands to the management for collective bargaining for wage agreement settlement.
Is there any Act to recognize union, is there any statutory obligation to recognize the newly formed and registered union.
Any legal law.
If Management is not giving recognize to the union. Is there any consequences.
K. Veer Bhadrayya
P&A
From India, Hyderabad
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