"My basic salary is ₹65,600, but as per company policy, my employer only contributes to EPF based on ₹15,000. In this case, is my employer required to contribute to the Employee Pension Scheme (EPS), or can the entire amount be transferred to EPF?" Please Advice
From India, Hyderabad
From India, Hyderabad
16
If you are an existing member of pension fund, the employer is bound to divide his contribution of Rs 1800 (12% of Rs 15000) as Rs 1250 to Pension Fund and the balance to your EPF. At the same time, if you are not an existing member of EPS, and you became a member of EPF after Sept 2014, the employer need not contribute to pension fund but can contribute the entire amount of his contribution to PF alone.
From India, Kannur
From India, Kannur
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