Employee Pension Scheme Rule for those whose first salary is more than 15,000.
https://bhupendrarana848.blogspot.com/2023/04/calculation-of-eps-contribution-for.html
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https://bhupendrarana848.blogspot.com/2023/04/calculation-of-eps-contribution-for.html
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Those who joined after 1st September 2014 with a PF qualifying salary of Rs 15,000 will not be eligible for the Pension scheme. Such employees can be excluded from the PF itself. However, if the employer wishes to include such employees, they can be covered by EPF by putting the entire contribution of the employer into their PF account rather than bifurcating it as 8.33% to the Pension Fund and 3.67% to the PF account. Please refer to the Act.
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4465From India, Kannur
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As rightly said by Mr. Madhu, if an employee joins on or after 01/09/2014 and if his/her basic salary is equal to or more than $15,000, then he/she is not eligible for the pension fund.
There may be some misleading information provided in the blog post.
From India, Mumbai
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There may be some misleading information provided in the blog post.
From India, Mumbai
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Qualifying amount is more than 15,000/-, not 15,000/-. Up to 15,000/-, the employee is eligible for both PF & EPS.
S K Bandyopadhyay (WB, Howrah) CEO USD HR Solutions +91 98310 81531
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S K Bandyopadhyay (WB, Howrah) CEO USD HR Solutions +91 98310 81531
From India, New Delhi
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