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Epf
As per the epf scheme the wage limit upto which the emplopyer s contribution has to be paid is rs.6500/ per month. if a person s initital appointment is with a monthly wages of rs.6501 is the employer liable to pay the epf employer contribution ? as the wage exceeding the maximum limit specified. in certain organization employer contribution 12 of the wages basic da is remitted. here there is no restriction is made to the maximum wage limit of rs.6500/. in this case is it statutorily obliged to pay the administrative charges for the whole wages. if the wage limit for administrative charges is taken rs.6500/ per employee for whose wages exceed rs.6500/ definitely there would be cost saving. please advise is it possible to limit the wages rs.6500/ for calculation of administrative charges.
Esic raises wage threshold to rs 21,000
Dear all the employees' state insurance corporation esic today raised the monthly wage threshold to rs 21000 from the current rs 15000 for coverage under its health insurance scheme. in a meeting held today the esic board also decided to give an option to existing insured persons to continue membership even if their wage breaches the ceiling of rs 21000 per month. at present all those insured under the esic scheme lose their membership of esic as well as that of the insurance cover if their wage overshoots the ceiling. has raised the threshold wage limit from rs 15000 to rs 21000" labour minister bandaru dattatreya told pti after the board meeting of esic here. labour minister is the chairman of the esic board. both the decisions will be implemented from october 1. dattatreya added that the move of raising the threshold will help bring in an additional 50 lakh members to at present esic has 2.6 crore insured persons which covers over 10 crore people assuming four members of a family. the minister also said there is a plan to increase the wage threshold for retirement fund body epfo subscribers and it may be considered in the next meeting of the central board of trustees cbt. at present the wage threshold is rs 15000 per month for coverage under its social security scheme.
Unwillingness for epf account
Dear friends as you all know the wage ceiling for epf has been raised from rs. 6500 to rs. 15000 w.e.f sept 01 2014. some of our employees who were not covered earlier whose basic salary is between rs. 6500 and rs. 15000 are to be enrolled for epf are not willing for epf contribution. they have their personal savings. now please let me know if there is any wayout for not compelling them for epf contribution. thanks dhananjay.
Esic coverage/wages changes eff. oct 2016
Dear all i have seen below news update on esic coverage changes can any one update on the notifications. news update the employees' state insurance corporation esic yesterday raised the monthly wage threshold to rs 21000 from the current rs 15000 for coverage under its health insurance scheme. in a meeting held yesterday the esic board also decided to give an option to existing insured persons to continue membership even if their wage breaches the ceiling of rs 21000 per month. at present all those insured under the esic scheme lose their membership of esic as well as that of the insurance cover if their wage overshoots the ceiling. has raised the threshold wage limit from rs 15000 to rs 21000" labour minister told pti after the board meeting of esic here. labour minister is the chairman of the esic board. both the decisions will be implemented from october 1. dattatreya added that the move of raising the threshold will help bring in an additional 50 lakh members to at present esic has 2.6 crore insured persons which covers over 10 crore people assuming four members of a family. the minister also said there is a plan to increase the wage threshold for retirement fund body epfo subscribers and it may be considered in the next meeting of the central board of trustees cbt. at present the wage threshold is rs 15000 per month for coverage under its social security scheme. the notification is yet to be published which will be published this month which will have clear understanding. warm regards praveen devadiga
Esic notification for increase limit 21000
Dear all hope all are fine as mentioned in subject there is limit changes in esic act. notification dt. 06.10.2016 for increase esic limit from 15000/ to 21000/. the employees' state insurance corporation esic raised the monthly wage threshold to rs 21000from the current rs 15000 for coverage under its health insurance scheme. thanks & regards dheeraj harbola wire free:9840525441 believe in yourself the world would believe you.
Epf contribution query in case of lwp
I am writing to seek clarification on epf calculations based on the pf wages limit which is 15000/ per month at present as illustrated below. a member s basic wage all allowances except hra is rs.16506/ per month. his monthly pf calculated as 1500012 rs.1800 example in the month of september' 22 this member gets 29 days wages due to one day without pay loss of without pay . his earned basic wage is 16506/3029 days rs. 15956/ what should be his epf contribution? option 1 : 12 on his earned basic of rs.15956 i.e on 1500012 rs.1800/ or option 2 : 12 on his earned pf wages calculated as 15000/3029 days rs.14500/ i.e on 1450012 rs.1740/ we are paying pf contribution always on 15000/ but in case of without pay leave contribution done according epf wages ceiling upto 15000/ only 15000/ particular month no of payable days please give me some advice on which option out of the above is correct? we need to clarify the same to one of our clients with documentary evidence. thank you regards dwarika p nautiyal