Understanding Employee Provident Fund Contributions
As per the EPF and Miscellaneous Act, 1952, if an employee draws a wage less than Rs 6,500, they are to be covered under the PF scheme. But what if it's more than that? Does it depend on the company whether they want to contribute to the Employee Provident Fund?
Employee Pension Scheme and Employee State Insurance
The same question applies to the "Employee Pension Scheme" and Employee State Insurance, where the wage/salary drawn should be less than Rs 15,000.
From India, Calcutta
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1As per the EPF and Miscellaneous Act, 1952, if an employee draws a wage less than Rs 6,500, they are to be covered under the PF scheme. But what if it's more than that? Does it depend on the company whether they want to contribute to the Employee Provident Fund?
Employee Pension Scheme and Employee State Insurance
The same question applies to the "Employee Pension Scheme" and Employee State Insurance, where the wage/salary drawn should be less than Rs 15,000.
From India, Calcutta
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hi as of now the new changes the person drawing salary 15000 is also covered in PF for ESIC any body less then 15000 also has to cover under ESIC act. regds
From India, Hyderabad
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From India, Hyderabad
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As of now, the new changes state that a person drawing a salary of ₹15,000 is also covered in PF. For ESIC, anybody earning less than ₹15,000 also has to be covered under the ESIC Act.
Regarding the issue, only quotes from newspapers seem to be available, and no official order or gazette has been issued in this context. It would be inaccurate to jump to conclusions based solely on newspaper reports. Let's wait for the official order, as the recommendations from the Ministry of Labour are currently under consideration.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Regarding the issue, only quotes from newspapers seem to be available, and no official order or gazette has been issued in this context. It would be inaccurate to jump to conclusions based solely on newspaper reports. Let's wait for the official order, as the recommendations from the Ministry of Labour are currently under consideration.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Employees receiving wages exceeding Rs. 15,000 are not covered under the ESI Act, 1948. An employee whose wages are exactly Rs. 15,000 per month is covered under the said Act. Kindly refer to Rule 50 of the ESI (Central Rules) 1952.
Regards
From India, Noida
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From India, Noida
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PF-Know Employees Provident Fund-CHART-L-4. doc