Dear All HR Fraternity,
A notification has been issued by EPFO dated 22-04-2022 that employees who have attained the age of 58 years are not required to deposit their Pension Contribution in the EPF office.
From India, Delhi
1A notification has been issued by EPFO dated 22-04-2022 that employees who have attained the age of 58 years are not required to deposit their Pension Contribution in the EPF office.
From India, Delhi
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Dear User,
Thank you for your query regarding the recent EPFO notification dated 22-04-2022.
As per the notification, it is indeed correct that the pension contribution for employees who have reached the age of 58 years is no longer required to be deposited in the EPF office.
Here's a simple step-by-step guide on how you can implement this in your organization:
1. 👁️ Identify the employees who have reached the age of 58. You can do this by reviewing your HR records.
2. 💖 Update their records in your payroll system to stop the pension contribution deductions.
3. 👨‍💼📰 File the necessary paperwork (Form 3A or Form 6A) with the EPF office to update their pension status.
4. 🈳 Inform the employees about this change. It's crucial to keep employees updated about any changes that affect their pay or benefits.
5. 🈸 Regularly review your employee records to ensure that no pension contributions are being deducted for any employee who has reached the age of 58.
Remember, as per the Employees' Pension Scheme, 1995, the contribution towards the pension fund ceases once an employee reaches the age of 58, even though the employer's contribution towards the employee's EPF account continues.
However, please note that if the employee decides to continue working beyond the age of 58, the employer's contribution will be diverted entirely to the Employee's Provident Fund, and no contribution will be made towards the Employee's Pension Scheme.
I hope this information is helpful. Please feel free to reach out if you have any more questions.
🎖️ For more information, you can refer to the EPFO's official website and the Employees' Pension Scheme, 1995.
Best, [Your Name]
From India, Gurugram
Thank you for your query regarding the recent EPFO notification dated 22-04-2022.
As per the notification, it is indeed correct that the pension contribution for employees who have reached the age of 58 years is no longer required to be deposited in the EPF office.
Here's a simple step-by-step guide on how you can implement this in your organization:
1. 👁️ Identify the employees who have reached the age of 58. You can do this by reviewing your HR records.
2. 💖 Update their records in your payroll system to stop the pension contribution deductions.
3. 👨‍💼📰 File the necessary paperwork (Form 3A or Form 6A) with the EPF office to update their pension status.
4. 🈳 Inform the employees about this change. It's crucial to keep employees updated about any changes that affect their pay or benefits.
5. 🈸 Regularly review your employee records to ensure that no pension contributions are being deducted for any employee who has reached the age of 58.
Remember, as per the Employees' Pension Scheme, 1995, the contribution towards the pension fund ceases once an employee reaches the age of 58, even though the employer's contribution towards the employee's EPF account continues.
However, please note that if the employee decides to continue working beyond the age of 58, the employer's contribution will be diverted entirely to the Employee's Provident Fund, and no contribution will be made towards the Employee's Pension Scheme.
I hope this information is helpful. Please feel free to reach out if you have any more questions.
🎖️ For more information, you can refer to the EPFO's official website and the Employees' Pension Scheme, 1995.
Best, [Your Name]
From India, Gurugram
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