Dear Members,
Please advice on the impact of the governments decision to increase the EPFO Wage Ceiling from Rs.6500 to Rs.15000. Will it mean that if an employee Basic+DA amounts to Rs.20K, then the mandatory PF Employee/Employer contribution now should be Rs.1800 (12% of Rs.15,000) insted of Rs. 780 (12% of Rs.6,500).
From India, Mumbai
2Please advice on the impact of the governments decision to increase the EPFO Wage Ceiling from Rs.6500 to Rs.15000. Will it mean that if an employee Basic+DA amounts to Rs.20K, then the mandatory PF Employee/Employer contribution now should be Rs.1800 (12% of Rs.15,000) insted of Rs. 780 (12% of Rs.6,500).
From India, Mumbai
Ceiling hike of EPF is a recommendation of Expert Committee which submitted the report to the Parliament on 5 th August 2011. Thereafter the Ministers in Labour Ministry, Govt. of India are frequently making announcements regarding the hike. Hence don't have much expectations on it.
If the ceiling salary hiked to 15000, the contribution will go up with respect to the salary of the individuals.
Abbas.P.S
From India, Bangalore
If the ceiling salary hiked to 15000, the contribution will go up with respect to the salary of the individuals.
Abbas.P.S
From India, Bangalore
Hi,
First of all, it is just recommended and not implemented.
Yes, once it is officially published in the Gazette then the minimum contribution for people drawing more than 15000 Basic + Da will be Rs. 1800
From India, Mumbai
First of all, it is just recommended and not implemented.
Yes, once it is officially published in the Gazette then the minimum contribution for people drawing more than 15000 Basic + Da will be Rs. 1800
From India, Mumbai
Hi,
As per my knowledge, this increased ceiling is still under pipeline & a hot issue for EPFO, Its still uncertain whether this decision comes into
documentation or not. Even similar case of ESIC also came into my knowledge( From Rs. 15000 to Rs. 25000) but still not getting implemented due to non-approval from parliament.
Regards,
Manish Gupta
From India, Ghaziabad
As per my knowledge, this increased ceiling is still under pipeline & a hot issue for EPFO, Its still uncertain whether this decision comes into
documentation or not. Even similar case of ESIC also came into my knowledge( From Rs. 15000 to Rs. 25000) but still not getting implemented due to non-approval from parliament.
Regards,
Manish Gupta
From India, Ghaziabad
Hi All,
Sorry, I fell sick for the past week, so not able to follow up the post in regular time intervals,
As clarified by Mr. Gobarchand, It is yet to be implemented officially, but has been discussed in several articles about the Ministerial announcement of deciding on the increasing of wage ceiling. It has been the hot discussion in EPFO office for the past few months.
I regret for any miscommunication that has happened in my query. I just read an article in the same title, that raised a doubt in me, for which I have posted it for discussion here.
Thanks,
GK.
From India, Mumbai
Sorry, I fell sick for the past week, so not able to follow up the post in regular time intervals,
As clarified by Mr. Gobarchand, It is yet to be implemented officially, but has been discussed in several articles about the Ministerial announcement of deciding on the increasing of wage ceiling. It has been the hot discussion in EPFO office for the past few months.
I regret for any miscommunication that has happened in my query. I just read an article in the same title, that raised a doubt in me, for which I have posted it for discussion here.
Thanks,
GK.
From India, Mumbai
Hi GK Sir, I am Manish Gupta not GobarChand....you understand the hell complications about availability of user names.... :)
From India, Ghaziabad
From India, Ghaziabad
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Wage Ceiling Under The Payment Of Wages Act Increased From 18,000 To 24,000.pdf