Clarification on Employee Pension scheme (EPS) will be applicable or not
Respected Seniors,
I am writing this post with reference to the above subject, Please clarify - Those joined EPF for first time after 1 Sep 2014 and earning more than 15,000 Rs in basic and DA will not be contributing to the Pension scheme (EPS).
For new members joining the EPF scheme on or after 1 September 2014, the contribution is required to be made only under the PF and are not eligible for membership for insurance scheme(EPS). Both the employer’s and employee’s share, 12% of salary each will be allocated fully to the PF (A/c 1).
Please find the below attached EPF Gazette Notification (Refer page 2 & 3, points 7 & 8).
I request a favourable reply from from your end sir.
Thank You.
Yours Sincerely
Austin
From India, Bengaluru
Respected Seniors,
I am writing this post with reference to the above subject, Please clarify - Those joined EPF for first time after 1 Sep 2014 and earning more than 15,000 Rs in basic and DA will not be contributing to the Pension scheme (EPS).
For new members joining the EPF scheme on or after 1 September 2014, the contribution is required to be made only under the PF and are not eligible for membership for insurance scheme(EPS). Both the employer’s and employee’s share, 12% of salary each will be allocated fully to the PF (A/c 1).
Please find the below attached EPF Gazette Notification (Refer page 2 & 3, points 7 & 8).
I request a favourable reply from from your end sir.
Thank You.
Yours Sincerely
Austin
From India, Bengaluru
when ever an Employee joins your Establishment, Please obtain EPF Form # 11(New) duly completed and signed by the Employee.If an Employee was already a member of EPS & if he had not withdrawn EPS Accumulations cover him under EPS upto Rs15,000 though his EPF Wages is more than Rs15,000
In case, he was not a member of EPS earlier or was a member of EPS & had withdrawn, he need not not be covered under EPS, if his EPF Wages at the time of joining your Establishment is more than Rs15,000/-
From India, New Delhi
610In case, he was not a member of EPS earlier or was a member of EPS & had withdrawn, he need not not be covered under EPS, if his EPF Wages at the time of joining your Establishment is more than Rs15,000/-
From India, New Delhi
Thank you Srinath sir for your reply.
Sir, what if the member has joined EPF for 1st time and his B+DA is more than 15000 but by mistake has been covered under EPS. After retirement can the employee claim EPS? will he get the Pension?
From India, Bengaluru
Sir, what if the member has joined EPF for 1st time and his B+DA is more than 15000 but by mistake has been covered under EPS. After retirement can the employee claim EPS? will he get the Pension?
From India, Bengaluru
you yourself stating that by mistake an Employee has been covered under EPS.Consequently, he will not be eligible for the benefits provided therein. what you have to do, is to correct this mistake immediately.
Immediately stop contribution to EPS Account
Give a Letter to PF Department mentioning about your mistake & request them to Transfer EPS Amount Contributed to EPF Account
Put proper Systems in place to avoid recurrence o such mistakes.
From India, New Delhi
Immediately stop contribution to EPS Account
Give a Letter to PF Department mentioning about your mistake & request them to Transfer EPS Amount Contributed to EPF Account
Put proper Systems in place to avoid recurrence o such mistakes.
From India, New Delhi
Dear Sir,
I asked the above doubt to clarify, I have recently joined an organization and the PF payment were due, in our organization we prepare the PF statement and send it to a Consultant, the consultant will verify and do the payments.
There were 5 new joiners and the members joined EPF for 1st time and their B+DA is more than 15000. So I sent PF statement with EPS=0. The consultant came back arguing that I was incorrect and not following the right method.
I tried explaining him by showing the EPF Gazette Notification. But he was not in the position to correct himself as he has been the consultant of organisation since a long time. I even tried explaining to the top management about the same that employee will not be eligible for the benefits provided if new Employee has been covered under EPS. The payments have be done by the consultant as per old method and have covered them under EPS.
Kindly advice how to deal such situation when consultant is following incorrect procedures ?
From India, Bengaluru
I asked the above doubt to clarify, I have recently joined an organization and the PF payment were due, in our organization we prepare the PF statement and send it to a Consultant, the consultant will verify and do the payments.
There were 5 new joiners and the members joined EPF for 1st time and their B+DA is more than 15000. So I sent PF statement with EPS=0. The consultant came back arguing that I was incorrect and not following the right method.
I tried explaining him by showing the EPF Gazette Notification. But he was not in the position to correct himself as he has been the consultant of organisation since a long time. I even tried explaining to the top management about the same that employee will not be eligible for the benefits provided if new Employee has been covered under EPS. The payments have be done by the consultant as per old method and have covered them under EPS.
Kindly advice how to deal such situation when consultant is following incorrect procedures ?
From India, Bengaluru
The following Employee will not be covered under EPS:
An Employee becoming PF Member for the First time & his EPF Wages is more than Rs15,000/-PM & EPF Contribution is more than Rs1,800/-PM
The following Employee will be covered under EPS:
An Employee was a Member of EPF& EPS in his Previous Employment & has not withdrawn his past accumulations though his EPF wages is more than Rs15,000/-PM & EPF Contribution is more than Rs1,800/-PM.
Such Employees EPS Contribution has to be made Maximum up to Rs15,000/-(EPS Wages) & Maximum EPS Contribution of Rs1,250/-PM
Please check whether there is any error in coveraage under EPS
From India, New Delhi
An Employee becoming PF Member for the First time & his EPF Wages is more than Rs15,000/-PM & EPF Contribution is more than Rs1,800/-PM
The following Employee will be covered under EPS:
An Employee was a Member of EPF& EPS in his Previous Employment & has not withdrawn his past accumulations though his EPF wages is more than Rs15,000/-PM & EPF Contribution is more than Rs1,800/-PM.
Such Employees EPS Contribution has to be made Maximum up to Rs15,000/-(EPS Wages) & Maximum EPS Contribution of Rs1,250/-PM
Please check whether there is any error in coveraage under EPS
From India, New Delhi
I am facing the same problem. I have earlier withdrawn my pf and pension contribution. I joined another organisation with basic more than 15000/- in 2015. My employer not followed the circular at that time and deposited 1250/- as pension contribution. I was also unaware about the fact that time. Now when I resigned from that organisation and filed withdrawal claim, EPFO Office rejected my claim on the ground that I am not edible for Pension scheme as my basic was more than 15000/- and instructed previous employer to file revise ECR. From more than 6 month I am following up with my previous employer and EPFO office but nothing happened till now. Interesting thing is that when I contacted my current employer and EPFO office they both are saying that nothing like that is in there knowledge and I am eligible for pension scheme also upto . Rs. 1250/- maximum contribution. Now I am confused what to do. I am not able to transfer my pf also till this issue does't get resolved as if i transfer the pf and after that my pension gets transfer to my previous pf account by previous employer then what will happen to that pf. Please guide me what should i do.
From India, Delhi
From India, Delhi
Hi Sandeep, I am also facing same issue. Did you find solution and how the issue got resolved for you.
From India, Bengaluru
From India, Bengaluru
I am facing similar issue as sandeep.
I joined organization XXX after post graduation (year 2016)
In PF form , I mentioned that , I was not member of EPF and EPS previously. As per rule, as my basic was more than 15000, i was only memeber of EPF scheme only.
In 2018 , I switched to new company YYY, But this time, I mistakenly mentioned that I am member of EPF and EPS scheme . I am getting 1250 amount in my EPS account.
In 2019 , the YYY company got closed and merged to its parent company ZZZ . In company ZZZ also, I am member of both EPF and EPS scheme.
I tried once PF transfer from XXX to ZZZ , its got success
I tried once to transfer PF from YYY to ZZZ , its got rejected with EPF Wages is more than Rs15,000
I have already informed about my mistake to current company ZZZ . They are saying submit a fresh pf document and duly signed letter to PF office mentioning about the mistake . The timeline to resolve this issue ( close eps account) can take 1 year.
Now i am moving to a new company after few weeks , I am planning to mention in new company joining PF doc as " I am member of EPF scheme only"
Can someone please let me know, if my process is correct below
1)I will join the new company and i will mention there , I was member of epf scheme only previously. So that , they will not deposit 1250 in my eps account
2) I will wait for the issue resolve from ZZZ company regarding eps account close
3) once the issue got resolved , I will transfer epf balance to my new company
From India, Bengaluru
I joined organization XXX after post graduation (year 2016)
In PF form , I mentioned that , I was not member of EPF and EPS previously. As per rule, as my basic was more than 15000, i was only memeber of EPF scheme only.
In 2018 , I switched to new company YYY, But this time, I mistakenly mentioned that I am member of EPF and EPS scheme . I am getting 1250 amount in my EPS account.
In 2019 , the YYY company got closed and merged to its parent company ZZZ . In company ZZZ also, I am member of both EPF and EPS scheme.
I tried once PF transfer from XXX to ZZZ , its got success
I tried once to transfer PF from YYY to ZZZ , its got rejected with EPF Wages is more than Rs15,000
I have already informed about my mistake to current company ZZZ . They are saying submit a fresh pf document and duly signed letter to PF office mentioning about the mistake . The timeline to resolve this issue ( close eps account) can take 1 year.
Now i am moving to a new company after few weeks , I am planning to mention in new company joining PF doc as " I am member of EPF scheme only"
Can someone please let me know, if my process is correct below
1)I will join the new company and i will mention there , I was member of epf scheme only previously. So that , they will not deposit 1250 in my eps account
2) I will wait for the issue resolve from ZZZ company regarding eps account close
3) once the issue got resolved , I will transfer epf balance to my new company
From India, Bengaluru
Please guide me on the below issue:
I had EPF and EPS account since 2014 which I withdraw in 2016 and for close to ten months there is no pf contribution. In 2017 I changed from that Job, But due to some mistake my new employer created a new UAN and my pf accumulation went into that. Now I started transferring all my all pf to one account then my request getting rejected because of "WAGES MORE THAN 15000 NON EPS MEMBER GIVE SERVICE DETAILS PRIOR TO 01.09.2014 IF ANY TRANSFER IN" . Please let me know what to do here.
From India, Bengaluru
I had EPF and EPS account since 2014 which I withdraw in 2016 and for close to ten months there is no pf contribution. In 2017 I changed from that Job, But due to some mistake my new employer created a new UAN and my pf accumulation went into that. Now I started transferring all my all pf to one account then my request getting rejected because of "WAGES MORE THAN 15000 NON EPS MEMBER GIVE SERVICE DETAILS PRIOR TO 01.09.2014 IF ANY TRANSFER IN" . Please let me know what to do here.
From India, Bengaluru
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