A contractual employee who was drawing a salary at the appointment prior to 01/09/2014 was drawing more than Rs 6500 PM. He was not covered under the PF Act and Employees Pension scheme. There has been an amendment in the PF Act and EPS. Will he be covered now? His salary is more than 6500 and less than 15000. Your expert opinion, please.
From India, Chandigarh

Prepare youself for senior leadership roles by discovering your unique leadership style →
Promoted: UCLA - Executive Leadership in a VUCA World (Explore Course)
PF Recent amendment on 01/09/2014 ceiling limit was increased in 6500.00 to 15000.00.
What are the Basic+DA you provided in your employee you should contribute the PF.
Ceiling Limit : 6500.00 (Pension fund 8.33% - 541.00)
New (W.e.f.01/09/2014)
Ceiling Limit : 15000.00 (Pension fund 8.33% - 1250.00)
Your basic above the old ceiling limit and below new ceiling limit you should pay for actual basic.Your basic increased new ceiling limit of 15000.00 in not to mandatory to paid.

From India, Kolkata

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply →

About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHR.Comô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server