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Thread Started by #dalmia2001

Recently an article in Economic times reported that employees with basic under Rs 7500 are covered under EPF. This limit was hiked way back in 2005. Yet I could not find any other confirmation to this news and every where it is still mentioned as Rs 6500. Any one has the clarification on this. Please confirm Rajesh Dalmia
27th May 2008 From India, Calcutta
Hi,
Applicability of the Act & Scheme
Is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establish-ments employing 20 or more person upto Rs.7500/- per month w.e.f. 1.4.2004. It has also been extend-ed upon shops, hotels, restaurants, roads motor transport undertakings, equip-ment maintenance staff in the hospitals. Thanks sree
29th May 2008 From India, Pune
Hi, Not it's is not revised, if you have avalable any backgroung please write where, Rs. 6500/- is right now still continues .................................. Govt. / PF department not issue any green light and not issue any notification please don't worry. Thanks Manoj Kumar
29th May 2008 From India, Delhi
Hi Sree, Your information is correct but that is not for EPF that is comes under ESI Act. But that also changed in October 2007 from Rs. 7500.00 to Rs. 10,000.00. Please make sure. Regards, Ravi Kumar T 09964519065
30th May 2008 From India, Bangalore
The Limit is 6500/- and even we have not received any updates on the same from the consultants..
30th May 2008 From India, Pune
Hi Rajesh Dalmia and Shrihariarjun, Can you please refer to some official notifications? or give more details about the source of the information you have? - Hiten Parekh
30th May 2008 From India, New Delhi
Sriharirajun's observation was about ESI and not EPF. The wage limit for ESI was raised wef 1-4-04 from Rs 6500 to Rs 7500. Of course, the ceiling was again raised from Rs 7500 to Rs 10000 wef 1-10-2006. And it was since 1-4-04 that applicability of ESI was extended to shops and establishments. For EPF the salary ceiling still remains at Rs 6500. Regards, Madhu.T.K
30th May 2008 From India, Kannur
No till date it is not revised and ceiling is still 6500/ this is the limit for PF calculation only.
31st May 2008 From India
Hi friends Without any notifications and amendments passed in the parliament which is to be published in the gazette it is not possible to implement the new ceiling limits. So reports in the newspaper cannot be made basis of it. regards
31st May 2008 From India, Vadodara
dear dalima, there is no cercular in this regad. since this onle the praposal before government. u can continue with 6500 basic only. regds Athmarama Shetty
31st May 2008
Rajesh Dalmia Hey Rajesh,,,,, its certainly nice of you to keep yourself abreast on the recent happenings around... and sensitising us on this...... As of now the limit is Rs. 6500/- however a bill is raised to extent it to Rs. 7500/- in the parliament, which is not yet approved. This i got clarrified from my close friend in RPFO. Kind Regards, Jagdish
31st May 2008 From India, Mumbai
Most of the members are right. It is Rs 6500/ PM only there is no changes till date. N N Tiwari
31st May 2008 From India, New Delhi
Here is the link to the article, that has the reference to the EPF limit. Wage ceiling for Employees Provident Fund may go- Finance-Economy-News-The Economic Times
1st June 2008 From India, Calcutta
Hi, Official notification has not been received about the hike. As of now, for PF ceiling, (Basic+DA) continues to be at Rs.6500/- only. Chandru Chennai
1st June 2008 From India, Madras
Hi, It is still Rs. 6500 is the ceiling limit of basic pay to deduct EPF for employer contribution, and there is no limit for the employee to contribute in EPF. Thanks and regards, SPS
2nd June 2008 From India, Madras
Greetings, Recently we had one of the PF official visiting our office for audit, even he conveyed the limit to be Rs 6500/-. If any one can share any article or publication on same from the Goverment would be of great help to all of us in this forum. Regards, Patel
2nd June 2008 From India, Bangalore
EMPLOYER CONTRIBUTION TO PF IS TOTAL OF 12% SPLITTED INTO 8.33% FOR FAMILY PENSION SCHEME AND BALANCE TO EMPLOYEES PROVIDEND FUND. THE CEILING AMOUNT OF FPS CONTRIBUTION IS 541(6500*8.33%=541) THE CALCULATION SPECIMEN IS HEREUNDER: WAGES RS.5000 EMPLOYER CONTRIBUTION TO FPS =417 (5000*8.33% - ROUNDED TO NEAREST RUPEE) EMPLOYER CONTRIBUTION TO EPF = 183 (5000*12% =600 LESS FPS CONTRIBUTION 417) WAGES RS.6500 EMPLOYER CONTRIBUTION TO FPS =541 (6500*8.33% - ROUNDED TO NEAREST RUPEE) EMPLOYER CONTRIBUTION TO EPF = 239 (6500*12% =780 LESS FPS CONTRIBUTION 541)
2nd June 2008 From India, Madras
No, i think its still 6500/- only. If it increases then we would get some message from PF Department. As such we didnt get any message from them as of now. Thanks, KP
2nd June 2008 From India, Hyderabad
It not increased to Rs.7,500/-. Till date it only Rs6,500/- only but EPFO in planning to increase the ceiling up to Rs.7,500/-.
2nd June 2008 From India, Madras
Hi Dalmia, This may clear your doubt. With the aim of widening the base of those eligible for provident fund from the current four crore-odd subscribers, the government is mulling doing away completely with the employee wage ceiling of Rs 7,500 per month. At present, employees with salary of Rs 7,500 are covered under the Employees Provident Fund and Miscellaneous Provisions Act. EPFO commissioner A Vishwanathan told ET, “The proposal may come up for discussion in the next board meeting.” The implementation of this proposal may require an amendment to the Employees Provident Fund and Miscellaneous Provisions Act. While eligibility for the Employees State Insurance Act is now already set at Rs 10,000 per month from the earlier Rs 7,500 per month, recent amendments to the Payment of Bonus Act has also facilitated a rise in the eligibility limit for bonus payment from Rs 3,500 per month to Rs 10,000 per month. Regs, Nithya P Corporate HR
2nd June 2008
Dear all, Can any one provide me supporting document on revision of PF ceiling. Regards, Praveen
2nd June 2008 From India, Bangalore
The limit not revised it is still Rs.6500/- however if you have any material regarding this please mail in my id after wacthing this material I will give you final view. kamlehs
2nd June 2008 From India, Ahmadabad
Dear venkat, There is no limit for an employee to contribute and as such an employee can have voluntary higher contribution, ie, more than the statutory limit of 12%, but the employer need not contribute the same higher contribution but his contribution can be the same 12% prescribed by the Act. Usually employees contribute voluntarily beacuse it is a kind of savings directly and by means of income tax benefits. Regards, Madhu.T.K
2nd June 2008 From India, Kannur
Hey this is not true in my organization we have a PF Consultant, I have checked with him also and he said it is not true. Amol Agaskar HR Executive TUV SUD South Asia
3rd June 2008 From India, Mumbai
The PF limit is 6500/- only, there is no change till date. The employees who are getting wage upto this limit for them it is mandatory otherwise optional. Moreover management is also not obliged to pay employers contribution of 12% beyond this limit i.e. if an employee is getting 8000/-, the employer is only bound to pay 12% of 6500/- only.
3rd June 2008 From India, Dehra Dun
I have heard a new amendment in ESIC for pregnent women. But I don’t know the the details any one can tell me about it?
3rd June 2008 From India, Mumbai
Hi We are employing quite a number of contract labours through different agencies. Can you please guide me whether we can keep all our requirement of shop floor workmen on fixed term contract. If it is so, what would be the maximum time period we can engage them on fiexed term. I understand they are to be equally paid at par with other egular workers of the organization, including leaves etc. Please guide me to enable me go ahead with this provision. Balakrishnan
3rd June 2008 From India, Ahmadabad
Membres, Why wasting time on these posts. Any one can go thro the web site of EPFOrganisation and get the details. It says a employee at the time of joining the employment and getting wages upto Rs.6500/- is required to become a member. Now an employee is eligible for membeship from the first day of joining the covered establishment. Gopan
3rd June 2008 From India, Kochi
To my knowledge for PF it is still Rs.6500/-. I am a regular reader of The Times of India & LLR. There is no update in this regard that limit has been raised to Rs.7500/- PM. If anyone has the copy of the amendment pl post on the citehr. Regds, Vikram Singh
3rd June 2008 From India, Delhi
Dear Friends, There no limit for the basic for the contribution towards PF (Provident fund). If the company wish to contribute it can contribute more than that. But there is a limit for the contribution towards employees pension fund, i.e 6500/-. we can contribute towards pension fund only to an extent of 6500(8.33% of 6500 which comes to Rs.541/-)
4th June 2008 From Malaysia
Hi, Yes, dear if we have not received any information from government agencies / government bodies we can't deduct PF more then Rs. 6500/-. Now we are deducting Rs. 78o/- maximum in a month @12% on Rs. 6500/- only. I think there is not conf.zn, if any want any query please visit RPF.com, Manoj Kumar
4th June 2008 From India, Delhi
It is Rs.6500/- and EPF would be 12% of the same viz. Rs,780/- This is the MINImum contirbution and maximum can go up to much more. One can have an option to contribute the minimum of Rs.780 per month or also as 12% of basic salary which could be much much more. It could go up to Rs.30,000 to 40,000 to for higher salaries.
5th June 2008 From India, Hyderabad
Dear Friends, seeint the article I had tried to contact the Economic Tmes head office H.O. at Delhi and also conveyed to them about this mistake in publication which they said that they would cross check at their end and intimate. But till date they have not done so. For information of our friends, this was incorrect.
5th June 2008 From India, Calcutta
According to our statutory auditors, In terms of the EPF Rules, in cases where employees are drawing more than Rs 6500 per month, and do not opt for the PF Scheme, a declaration in the Prescribed form has to be obtained from the Employees. Kindly ensure compliance before this month end to avoid Audit Qualifications. As per my F&A Manager who is a qualiifed CA. Is there any prescribed Format for the same. Can somebody upload the same, ASAP. or mail me at dipakmalik(at)gmail.com
24th February 2009 From India, Bangalore
Hi Kumsi, that ESI limit also amended to 15000/- wef from May'10. Please note it.
and also it is to inform that, there is no official communication from PF Authorities to enhance the EPF ceiling from 6500/- to 7500/-
regards
ram
16th April 2011 From India, Hyderabad
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