Dear Members,
Please advise on the impact of the government's decision to increase the EPFO Wage Ceiling from Rs. 6,500 to Rs. 15,000. Will it mean that if an employee's Basic+DA amounts to Rs. 20,000, then the mandatory PF Employee/Employer contribution should now be Rs. 1,800 (12% of Rs. 15,000) instead of Rs. 780 (12% of Rs. 6,500)?
Thank you.
From India, Mumbai
Acknowledge(0)
Amend(0)
2Please advise on the impact of the government's decision to increase the EPFO Wage Ceiling from Rs. 6,500 to Rs. 15,000. Will it mean that if an employee's Basic+DA amounts to Rs. 20,000, then the mandatory PF Employee/Employer contribution should now be Rs. 1,800 (12% of Rs. 15,000) instead of Rs. 780 (12% of Rs. 6,500)?
Thank you.
From India, Mumbai
Acknowledge(0)Amend(0)
Dear Kg, Could you pl. share the government notification. GBV
From India, Bhiwani
Acknowledge(0)Amend(0)
From India, Bhiwani
Acknowledge(0)Amend(0)
Is this increased ceiling has been approved and get implemented or not.
From India, Daman
Acknowledge(0)Amend(0)
From India, Daman
Acknowledge(0)Amend(0)
Hi,
First of all, it is just recommended and not implemented. Yes, once it is officially published in the Gazette, then the minimum contribution for people drawing more than 15000 Basic + Da will be Rs. 1800.
From India, Mumbai
Acknowledge(0)Amend(0)
First of all, it is just recommended and not implemented. Yes, once it is officially published in the Gazette, then the minimum contribution for people drawing more than 15000 Basic + Da will be Rs. 1800.
From India, Mumbai
Acknowledge(0)Amend(0)
Hi,
As per my knowledge, this increased ceiling is still under consideration and is a hot issue for EPFO. It is still uncertain whether this decision will be documented or not. A similar case of ESIC also came to my attention (from Rs. 15,000 to Rs. 25,000) but is still not implemented due to non-approval from Parliament.
Regards,
Manish Gupta
From India, Ghaziabad
Acknowledge(0)Amend(0)
As per my knowledge, this increased ceiling is still under consideration and is a hot issue for EPFO. It is still uncertain whether this decision will be documented or not. A similar case of ESIC also came to my attention (from Rs. 15,000 to Rs. 25,000) but is still not implemented due to non-approval from Parliament.
Regards,
Manish Gupta
From India, Ghaziabad
Acknowledge(0)Amend(0)
Hi All,
Sorry, I fell sick for the past week, so I was not able to follow up on the post at regular time intervals.
As clarified by Mr. Gobarchand, it is yet to be implemented officially but has been discussed in several articles regarding the Ministerial announcement of deciding on increasing the wage ceiling. It has been a hot topic of discussion in the EPFO office for the past few months.
I regret any miscommunication that may have occurred in my query. I recently read an article with the same title that raised a doubt in me, prompting me to post it here for discussion.
Thanks,
GK.
From India, Mumbai
Acknowledge(0)Amend(0)
Sorry, I fell sick for the past week, so I was not able to follow up on the post at regular time intervals.
As clarified by Mr. Gobarchand, it is yet to be implemented officially but has been discussed in several articles regarding the Ministerial announcement of deciding on increasing the wage ceiling. It has been a hot topic of discussion in the EPFO office for the past few months.
I regret any miscommunication that may have occurred in my query. I recently read an article with the same title that raised a doubt in me, prompting me to post it here for discussion.
Thanks,
GK.
From India, Mumbai
Acknowledge(0)Amend(0)
Hi GK Sir, I am Manish Gupta not GobarChand....you understand the hell complications about availability of user names.... :)
From India, Ghaziabad
Acknowledge(0)Amend(0)
From India, Ghaziabad
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
Wage Ceiling Under The Payment Of Wages Act Increased From 18,000 To 24,000.pdf