Please be informed that, In our company we are are paying 12% employer contribution to EPF member's account irrespective of Basic amount. Now the question is on changes on EPF act effective 01st Sep '2014.
As per the amendment in Sep '2014, employees who are getting Basic more than 15000/- & if it's a first time employment are not eligible to get the EPS contribution from employer portion. Full 12% of contribution has to be remitted to A/c No. 1.
However, we have made a mistake and not followed the rules. Means, we have remitted the EPS amount for all employees.
Kindly suggest me, how to correct now.
From India, Bengaluru
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
This can be corrected from the PF Office. Normally, such wrong contributions will be corrected automatically by the system itself. But, you can personally visit the PF Office and get it corrected.
From India, Kannur