As per a recent Supreme Court decision, EP is calculated at 8.33% of pay and DA from 1995 until the date of superannuation. Is this applicable to all retired employees of organized sectors who retired prior to this decision? Do they need to pay back the said percentage of pay and DA with applicable interest accrued from time to time?
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Dear Mr. Suresh Sir,
Please let me know if you were covered under EPF & EPS. What was your EPF/EPS salary? When did you retire? Are you already drawing EPS monthly pension? Please note that the employee's share of EPF contribution is 12% on Basic+DA+VDA, which goes to the EPF account and earns interest as per applicable rates. The employer's share of PF is also at 12%. Out of this, 8.33% goes to EPS and 3.67% goes to the EPF account.
Until September 2014, the EPS limit was INR 6,500 (INR 541 contribution). From September 2014, the EPS wage ceiling was enhanced to INR 15,000 (INR 1,250 contribution).
From India, New Delhi
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Please let me know if you were covered under EPF & EPS. What was your EPF/EPS salary? When did you retire? Are you already drawing EPS monthly pension? Please note that the employee's share of EPF contribution is 12% on Basic+DA+VDA, which goes to the EPF account and earns interest as per applicable rates. The employer's share of PF is also at 12%. Out of this, 8.33% goes to EPS and 3.67% goes to the EPF account.
Until September 2014, the EPS limit was INR 6,500 (INR 541 contribution). From September 2014, the EPS wage ceiling was enhanced to INR 15,000 (INR 1,250 contribution).
From India, New Delhi
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Attached is the Submission of Aadhar as Identity Document by the Pensioners and Members of the EPS, 1995 in North Eastern States. Effective from 4th May.
Refer to www.simpliance.in to download all recent amendments and notifications for free.
From India, Bengaluru
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Refer to www.simpliance.in to download all recent amendments and notifications for free.
From India, Bengaluru
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