Harsh Kumar Mehta
Consultant In Labour Laws/hr
Human Resources Professional
+1 Other

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Dear All
Please find PF Gazette notification on enhancement of statutory wage limit to Rs 15,000 PM , with minimum pension of Rs 1,000/- PM this would be with effect from 01 September 2014.
Best Regards
Vaibhava Mahamunkar
Head - Human Resources.
Secure Parking Solutions Pvt. Ltd.

From India, Mumbai

Attached Files
File Type: pdf PF Notification of wage of ceiling15000 per month WEF 01.09.2014.pdf (259.2 KB, 1157 views)

Sir, The issue was pending since long. Now, the appropriate Govt. has issued the notifications, thus ending uncertainty in the matter.
From India, Noida
There are few practical questions while implementing this policy.
1) If basic salary of an Employee "A" is less than Rs.15000/-, How do we need to contribute for EPS ? is it 8.33% of the basic pay or Minimum of Rs.1000/- ?
2) If an Employee "B"s total gross salary is Rs.40,000/- and Basic is only Rs.10,000/- (25% of gross is basic) rest of the amount adjusted towards Special Allowance (excluding HRA,Conveyance, PF), how do we need to calculate the pensionable wage ? Do we need to change the calculations from the existing basic of Rs.10,000 to Rs.15000 ?
3) Is there any rule regarding what percentage of total salary should be basic ?
Experts kindly advice

From India, Bangalore
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™