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My query is that, As per the Provisions, Employer has to contribute 8.33% in Pension fund and 3.67% in EPF Fund of his share, but in my PF Passbook, EPF Contribution of Employer is shown @ 8.67% and rest in Pension Fund and Other Fund. My Company is a very Big MNC, so i can't question the judgement of its Compliance Department.
Is there any Rebate or Separate procedure for them, because as per the circular available with me, it clearly states that Employee Share will go to EPF Fund and Employer share will go to THREE FUNDS namely, 8.33% in Pension Fund, 3.67% in EPF Fund and 0.5% in EDLI Fund. Please clarify.
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Kindly note
PF contribution Employee share (12%) & employer share pf (3.67%) will be shown in Deposit column.
Employer share EPS (8.33%) will be shown in Pension contribution.
Now if you calculate these contribution it will be 24% (EMP+ER).
you cann/t see EDLI contribution in passbook.
Exactly Sir.
But company is depositing his Contribution of 8.33% in EPF and 3.67% in EPS Contribution, in addition to the 12% of employee share in EPF Fund.
I think company is doing wrong as it should be 8.33% in EPF & 3.67% in EPS.
Is the company doing correct?
Employee contribution 12%+Employer contribution 3.67% will be deposit in PF contribution account 01.
Employer share 8.33% will be deposit in pension scheme account 10.
Employer share 0.5% will be deposit in account 02 as PF admin charges.
and employer share 0.5% will be deposit in account 21 as EDLI charges.
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