companies covered by PF have to remit 0.5% of the salary as contribution towards EDLI. I understand that the maximum salary for this calculation is only Rs 6500 and not actual salary which can be more than this.
As of now we are remitting 0.5% of total salary instead of restricting it to Rs 6500 as salary.
Please clarify which salary to be considered.
From India, Bangalore
As of now we are remitting 0.5% of total salary instead of restricting it to Rs 6500 as salary.
Please clarify which salary to be considered.
From India, Bangalore
You should have restricted the EDLI and Admin charges to a salary of Rs 6500. If over paid, you may adjust with future payments after discussing the matter with the Enforcement Officer or Accounts Officer of the EPFO.
Regards,
Madhu.T.K
From India, Kannur
4193Regards,
Madhu.T.K
From India, Kannur
Dear Babu,
EDLI charges are also restricted to 6500 ie Rs.32.50 maximum.
Because this is a kind of insurance premium ,the benefit one can avail is also restricted to the tune of 6500 only.
Hence you need not contribute more than Rs.32.50 for each members.
As Madhu advised, you can approach PF authorities to get it adjusted before this annual returns.
S.Sethupathy,
Excellent HR Services,
Erode.
From India, Selam
EDLI charges are also restricted to 6500 ie Rs.32.50 maximum.
Because this is a kind of insurance premium ,the benefit one can avail is also restricted to the tune of 6500 only.
Hence you need not contribute more than Rs.32.50 for each members.
As Madhu advised, you can approach PF authorities to get it adjusted before this annual returns.
S.Sethupathy,
Excellent HR Services,
Erode.
From India, Selam
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Epfo-circular-2 2-mar-2017-pf-e dli-admin-charg es-reduced-waiv ed-wef-1-apr-20 17.pdf
Interest rate cut to 8.55%, admin charges reduced to 0.5%.jpg