Account Nos 01,01,10,21 and 22 are maintained by EPF Organisation to which the employer has to credit the amounts in TOTAL in respect of the entire employees. It has nothing to do with individual employees. However, you have to prepare a separate statement showing individuals salary, Employees contribution to EPF, Employer's contribution (8.33%) to PF and EPF (3.67%) in respect of individual employees so that preparation of contribution crad and annual statement will be easy. Deposit of the amount will be made in total for one month.
Once an employee is covered under the scheme, he continues to be covered irrespective of his salary.
Presently most of the firms do cover employees irespective of their starting salary, though only those whose salary AT THE TIME OF ENTERING is not more than 6500 is covered. In the case of ESI, however, when the salary exceeds 10000, he becomes out of coverage from the next contribution period. That is, if salary exceeds 10000 in May, then till Sept, he has to contribute the prescribed contribution, ie, 1.75% and employer too at 4.75%, but from the next contribution period onwards, ie, from Oct he becomes uncovered.
Regards,
Madhu.T.K
Regards
From India, Kannur
4238Once an employee is covered under the scheme, he continues to be covered irrespective of his salary.
Presently most of the firms do cover employees irespective of their starting salary, though only those whose salary AT THE TIME OF ENTERING is not more than 6500 is covered. In the case of ESI, however, when the salary exceeds 10000, he becomes out of coverage from the next contribution period. That is, if salary exceeds 10000 in May, then till Sept, he has to contribute the prescribed contribution, ie, 1.75% and employer too at 4.75%, but from the next contribution period onwards, ie, from Oct he becomes uncovered.
Regards,
Madhu.T.K
Regards
From India, Kannur
Account Nos 01,01,10,21 and 22 are maintained by EPF Organisation to which the employer has to credit the amounts in TOTAL in respect of the entire employees. It has nothing to do with individual employees. However, you have to prepare a separate statement showing individuals salary, Employees contribution to EPF, Employer's contribution (8.33%) to PF and EPF (3.67%) in respect of individual employees so that preparation of contribution crad and annual statement will be easy. Deposit of the amount will be made in total for one month.
Once an employee is covered under the scheme, he continues to be covered irrespective of his salary.
Presently most of the firms do cover employees irespective of their starting salary, though only those whose salary AT THE TIME OF ENTERING is not more than 6500 is covered. In the case of ESI, however, when the salary exceeds 10000, he becomes out of coverage from the next contribution period. That is, if salary exceeds 10000 in May, then till Sept, he has to contribute the prescribed contribution, ie, 1.75% and employer too at 4.75%, but from the next contribution period onwards, ie, from Oct he becomes uncovered.
Regards,
Madhu.T.K
From India, Kannur
Once an employee is covered under the scheme, he continues to be covered irrespective of his salary.
Presently most of the firms do cover employees irespective of their starting salary, though only those whose salary AT THE TIME OF ENTERING is not more than 6500 is covered. In the case of ESI, however, when the salary exceeds 10000, he becomes out of coverage from the next contribution period. That is, if salary exceeds 10000 in May, then till Sept, he has to contribute the prescribed contribution, ie, 1.75% and employer too at 4.75%, but from the next contribution period onwards, ie, from Oct he becomes uncovered.
Regards,
Madhu.T.K
From India, Kannur
Hi Tarsia How are you doing?? I am very much confuse with withdraw of pension fund like How many year of services we need to withdraw our pension fund. And effect of last drawn salary. Regards Akhil
From India, Kota
From India, Kota
Thank you very much for such knowledge information is it possible to get the pension even if we are changing different orgs all including 1o years ciontribution. Regards, Raghunath.
From India, Visakhapatnam
From India, Visakhapatnam
Dear Raghunath
Greetings.
As i mentioned in my initial post in option A, when you work for a orgn for 2 years you will get scheme certificate in lieu of your withdrawl. If you work for more no of orgn you will certainly get scheme certificate for the service you rendered in that orgn. Hence if you can collect 10 years of scheme certificate before your retirement age, you will get pension after your retirement.
Hope this is sufficient for your question.
Cheers
Trisha
HR Professional
From India, New Delhi
Greetings.
As i mentioned in my initial post in option A, when you work for a orgn for 2 years you will get scheme certificate in lieu of your withdrawl. If you work for more no of orgn you will certainly get scheme certificate for the service you rendered in that orgn. Hence if you can collect 10 years of scheme certificate before your retirement age, you will get pension after your retirement.
Hope this is sufficient for your question.
Cheers
Trisha
HR Professional
From India, New Delhi
Hr Fraternity,
It was a great session for me. Learned a lot from the discussion. Recently, I was asked revise our compensation structure. All the inputs from this discussion helped me through out. Thanks to all who contributed the info.
Regards
Indulekha
From India, Bangalore
It was a great session for me. Learned a lot from the discussion. Recently, I was asked revise our compensation structure. All the inputs from this discussion helped me through out. Thanks to all who contributed the info.
Regards
Indulekha
From India, Bangalore
Normally it takes 30 days time to submit withdrawl forms in PF office and PF officials will take one month time to credit concerned account. Sathish
Hi,
There is a bifercation of employers 12% pf contribution is as under :
8.33% ---------- is for pension fund---this goes in a/c -10
3.67% ---------- is for Employees pf-- this goes in a/c-1with empolyees 12% contribution.
Hope you understand.
regards,
Ravi
From Germany, Lohmar
There is a bifercation of employers 12% pf contribution is as under :
8.33% ---------- is for pension fund---this goes in a/c -10
3.67% ---------- is for Employees pf-- this goes in a/c-1with empolyees 12% contribution.
Hope you understand.
regards,
Ravi
From Germany, Lohmar
Hi all,
Can anyone solve my problem?. I was working with a firm where my contribution and the employer contribution of PF was deducted from my salary. After working for 7 months I resigned the company. So will I get back my PF. Please tell me what forms do I want to get filled and also define me a way or procedure to obtain my claim if my employer doesn't sign the Employer signature column in PF form.
From India, Mumbai
Can anyone solve my problem?. I was working with a firm where my contribution and the employer contribution of PF was deducted from my salary. After working for 7 months I resigned the company. So will I get back my PF. Please tell me what forms do I want to get filled and also define me a way or procedure to obtain my claim if my employer doesn't sign the Employer signature column in PF form.
From India, Mumbai
Hi Thrisha,
Thanks for your valuable information.
Please can you provide the clarification on below issues.
1.When I transfer PF amount from one state to another state PF office will charge any amount.
My company Opened account in Hyd after 14 months i transferred to Chennai and after 5 months again transferred to Pune office.
Now when I want to withdraw the PF amount they given very less amount
My Contribution for the PF is Rs 52000 (12%)
My Employer contribution for the PF is Rs 16325 (3.66%)
My Employer contribution for Pension Fund is Rs 37157 (8.33%)
When I withdraw the PF
I got only 62573/- (One cheque) and another one 6539/- and the amount direct credit to my account.
Now my question why got the less amount? there are any calculations?
Can I request PF office to provide complete statement regarding my PF account?If yes whom i need to request?
They will send any statements to my address regarding complete information about PF amounts?
Please provide clarification above issues.
Thanks in advance.
Ravi
From Singapore, Singapore
Thanks for your valuable information.
Please can you provide the clarification on below issues.
1.When I transfer PF amount from one state to another state PF office will charge any amount.
My company Opened account in Hyd after 14 months i transferred to Chennai and after 5 months again transferred to Pune office.
Now when I want to withdraw the PF amount they given very less amount
My Contribution for the PF is Rs 52000 (12%)
My Employer contribution for the PF is Rs 16325 (3.66%)
My Employer contribution for Pension Fund is Rs 37157 (8.33%)
When I withdraw the PF
I got only 62573/- (One cheque) and another one 6539/- and the amount direct credit to my account.
Now my question why got the less amount? there are any calculations?
Can I request PF office to provide complete statement regarding my PF account?If yes whom i need to request?
They will send any statements to my address regarding complete information about PF amounts?
Please provide clarification above issues.
Thanks in advance.
Ravi
From Singapore, Singapore
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.
Employer-PF-res trict to wages of Rs 6500.pdf