Dear Sir/ Madam,
I have the following queries regarding EPF :
1. Incase of voluntary coverage under the Act, is it true that employees drawing more than INR 15000 cannot be enrolled as members? Sec 1(4) refers to majority of employees (which includes excluded employees)
2. What is the limit of the Voluntary PF contribution of employees over and above the EPF? Where is the limit provided? Which rules / circular?
3. How often can the employee change the VPF contribution?
Looking forward to your replies.
Regards,
Rashmi
From India, Bengaluru
3I have the following queries regarding EPF :
1. Incase of voluntary coverage under the Act, is it true that employees drawing more than INR 15000 cannot be enrolled as members? Sec 1(4) refers to majority of employees (which includes excluded employees)
2. What is the limit of the Voluntary PF contribution of employees over and above the EPF? Where is the limit provided? Which rules / circular?
3. How often can the employee change the VPF contribution?
Looking forward to your replies.
Regards,
Rashmi
From India, Bengaluru
@RD
Voluntary coverage of establishment means the establishment opt to get registered under EPF act and pay contribution of ALL employees
Voluntary contribution means paying contribution above the ceiling of 15000/- for which employee and employer both has to be agreed for all employees
VPF opted by establishment to pay EPF on higher payout is normally irrevocable, however on merits of the issue the RO/SRO can consider the request for hearing, and unless they permit, it can not be changed
Voluntary coverage of establishment means the establishment opt to get registered under EPF act and pay contribution of ALL employees
Voluntary contribution means paying contribution above the ceiling of 15000/- for which employee and employer both has to be agreed for all employees
VPF opted by establishment to pay EPF on higher payout is normally irrevocable, however on merits of the issue the RO/SRO can consider the request for hearing, and unless they permit, it can not be changed
Thank you for your reply.
I am told that the Voluntary Provident Fund contribution can be upto maximum of 100% of Basic + Dearness Allowance.
Where is the limit specified? Can you share the guidelines or rules with regard to VPF by employees.
Regards,
Rashmi
From India, Bengaluru
I am told that the Voluntary Provident Fund contribution can be upto maximum of 100% of Basic + Dearness Allowance.
Where is the limit specified? Can you share the guidelines or rules with regard to VPF by employees.
Regards,
Rashmi
From India, Bengaluru
Voluntary coverage means the eligible manpower for coverage is short ( below 20 ) but interested to get coverage even after that. In any organization if there is 20 or more excluded employees, it is also covered organization but employees are not covered and in that case the organization may voluntarily covered the excluded employees.
VPF may be 100% of Basic & DA for any employee - employee contribution only.
S K Bandyopadhyay ( Howrah, West Bengal)
From India, New Delhi
VPF may be 100% of Basic & DA for any employee - employee contribution only.
S K Bandyopadhyay ( Howrah, West Bengal)
From India, New Delhi
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EPS - Wage Limit increase_01.09. 2014.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx