Is contribution to the pension fund mandatory if the basic salary is more than Rs. 15,000/- and the Provident fund contribution amount is higher than Rs. 1800/- pm;
From India, Mumbai
From India, Mumbai
In respect of employees who joined later than September 2014, contribution to Pension Fund is not at all required but in respect of employees who had become PF members earlier than Sept 2014, you have to contribute to Pension fund even if their salary exceeds Rs 15000. This applies to new employees who join your establishment but who had became PF members prior to Sept 2014.
From India, Kannur
4248From India, Kannur
Hi,
Some amendment took place in this connection with effect from Sep,2014.
If the DOJ of the employee is prior to Sep,2014 and if the employee is already a contributing member to PF/Pension then current employer should continue to contribute for pension even if the pf wages exceeds Rs.15000/- For employees joined employment after Sep,2014 with no PF in the past they are not eligible for pension contribution. Please note that PF Pension contribution ceiling is limited to Rs.1250/- Any contribution in excess, above Rs.1250/- should be credited to PF account.
From India, Madras
Some amendment took place in this connection with effect from Sep,2014.
If the DOJ of the employee is prior to Sep,2014 and if the employee is already a contributing member to PF/Pension then current employer should continue to contribute for pension even if the pf wages exceeds Rs.15000/- For employees joined employment after Sep,2014 with no PF in the past they are not eligible for pension contribution. Please note that PF Pension contribution ceiling is limited to Rs.1250/- Any contribution in excess, above Rs.1250/- should be credited to PF account.
From India, Madras
Thank you, if in case the UAN no is created after September 2014 and the provident fund contribution is higher than Rs. 1800/- (as 12% on the complete basic amount is considered for PF contribution by the organisation) and also contribution towards pension fund is also made. Is this correct. if not how to correct it as due to this I am facing problem to transfer my previous company PF to my current company
From India, Mumbai
From India, Mumbai
This is to be sorted out by the previous employer only. As this is only a technical error you can write to the employer to do the needful. If they are not responding, you can involve the PF Organisation. Anyway, it is a complicated matter for us though the EPFO can do it easily bt they will not do it because they work for themselves and not for the members who are the beneficiaries. This has become worse with the blow that the EPFO has got from the various Courts including the Supreme Court on higher pension verdicts.
From India, Kannur
From India, Kannur
From the above discussion, I found one more query. If person join after Sept. 2014 say in 2024, totally fresh no epf membership earlier at all. Salary above 15000/- say 50000/- p.m. If employee willing to be a EPF member voluntarily. Employer also agreed. Under such case, whether Family pension membership is compulsory or both contribution can it possible to be deposited only in EPF.
From India, Pune
From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
ESI contribution rates lowering.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx