Sir/Madam, I will be grateful to the experts to enlighten me on a view with sections and case laws if any in support :
If an employee gets total salary (excluding HRA) of Rs. 18700/- or more (Basic -8800/- +HRA-3300/- + Conveyance Allowance-3300/- + Medical Allowance-3300/- + City Compensatory Allowance- 3300/-) will he be eligible to be a member of EPS'95 (Employees Pension Scheme'95) under EPFO? Here both employer and employee is agreed in PF and Pension contributions.
His date of joining in his first employment on February'21.
Thanks.
P.Bagchi
From India, Calcutta
If an employee gets total salary (excluding HRA) of Rs. 18700/- or more (Basic -8800/- +HRA-3300/- + Conveyance Allowance-3300/- + Medical Allowance-3300/- + City Compensatory Allowance- 3300/-) will he be eligible to be a member of EPS'95 (Employees Pension Scheme'95) under EPFO? Here both employer and employee is agreed in PF and Pension contributions.
His date of joining in his first employment on February'21.
Thanks.
P.Bagchi
From India, Calcutta
If at all this is his/her first employment or earlier he/she is not the member to EPF then pension is not applicable. Both EPF & EPS shall be contributed to EPF only
From India, Bangalore
638From India, Bangalore
Someone is saying, for higher salaried employees, if PF is deducted @12% upto the PF capping limit of 15000/- then Family Pension under EPS'95 is compulsorily applicable @8.33% upto that capping amount (15000/-) too by default.
Is it true? if so, please confirm and it will also be helpful if I get any rule, law, section, case law etc in support to this view.
From India, Calcutta
Is it true? if so, please confirm and it will also be helpful if I get any rule, law, section, case law etc in support to this view.
From India, Calcutta
UNDER EPS
Contribution is payable out of the employer’s share of PF and no contribution is payable by employee.
Pension contribution not to be paid:
When an employee crosses 58 years of age and is in service (EPS membership ceases on completion
of 58 years). When an EPS pensioner is drawing Reduced Pension and re-joins as an employee.
In both the cases the Pension Contribution @8.33% is to be added to the Employer Share of PF. (Pension
contribution is not to be diverted and total employer share goes to the PF). In case an employee, who is not existing
EPF/EP member joins on or after 01-09-2014 with wages above Rs 15000/- In these cases the pension contribution
part will be added to employee share, EPF.
From India, New Delhi
Contribution is payable out of the employer’s share of PF and no contribution is payable by employee.
Pension contribution not to be paid:
When an employee crosses 58 years of age and is in service (EPS membership ceases on completion
of 58 years). When an EPS pensioner is drawing Reduced Pension and re-joins as an employee.
In both the cases the Pension Contribution @8.33% is to be added to the Employer Share of PF. (Pension
contribution is not to be diverted and total employer share goes to the PF). In case an employee, who is not existing
EPF/EP member joins on or after 01-09-2014 with wages above Rs 15000/- In these cases the pension contribution
part will be added to employee share, EPF.
From India, New Delhi
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EPFO-EPS-FUNCTI ONS & BENEFITS.docx
Handbook on EPS 1995 by EPFO (2001) - Shared by Parveen Kohli-Labour Laws Group-Jul'20.pd f