Good afternoon all,
I have a query about EPF. My current company is sharing the employer amount but not sharing the EPS amount. That means the total amount is going into my savings. When I raised the query, the clarification came from them: "From 2014, for those who have joined EPF, there is no pension contribution." Please clarify this for me.
From India, Cuttack
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3I have a query about EPF. My current company is sharing the employer amount but not sharing the EPS amount. That means the total amount is going into my savings. When I raised the query, the clarification came from them: "From 2014, for those who have joined EPF, there is no pension contribution." Please clarify this for me.
From India, Cuttack
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Hi,
For an employee whose salary (Basic + DA) is 15000/-, the employer PF contribution of 12% will be deducted. This amount will then be divided as 3.67% for PF and 8.33% for the pension fund. If an employee crosses the age of 58, the total 12% of the employer's share will be deposited into the PF account.
Hope this information is helpful.
From India, Jabalpur
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For an employee whose salary (Basic + DA) is 15000/-, the employer PF contribution of 12% will be deducted. This amount will then be divided as 3.67% for PF and 8.33% for the pension fund. If an employee crosses the age of 58, the total 12% of the employer's share will be deposited into the PF account.
Hope this information is helpful.
From India, Jabalpur
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Hello, How do you say that the employer is not contributing to EPS? As Ms. Meera Sharif had explained, employer need not contribute to PF if the employee is aged 58 years and above.
From India, Chennai
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From India, Chennai
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Hello,
As per the employee's basic salary being above Rs. 15,000/- per month in his first employment, in this case, pension is not applicable to him. Once he becomes a PF member in his earlier company, it is necessary to continue PF and Pension deduction on Rs. 15,000/- in the new company even if his salary is above Rs. 15,000/- per month.
Thanks,
Ashok B
From India, Mumbai
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As per the employee's basic salary being above Rs. 15,000/- per month in his first employment, in this case, pension is not applicable to him. Once he becomes a PF member in his earlier company, it is necessary to continue PF and Pension deduction on Rs. 15,000/- in the new company even if his salary is above Rs. 15,000/- per month.
Thanks,
Ashok B
From India, Mumbai
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PF & Pension Amdmt Scheme 2010 for IW.pdf
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