What are the different accounts and their contribution in PF as on Nov 2018 - CiteHR
Pan Singh Dangwal
Joint Manager
Rahul Chhabra
Hr Professional
+1 Other

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What are the different accounts and their contribution in PF as on Nov 18?
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As of now, there are 5 accounts in PF:
A/c 01: EPF
A/c 02: Admin Charges
A/c 10: EPS
A/c 21: EDLI
A/c 22: Admin charge on EDLI
Regards
Rahul
Thanks for the information. Can you also share the contribution towards these accounts?
A/c 01: EPF (12% of basic pay/employee's share of PF, plus 3.67% of employer share if basic pay is equal to or below 15k; else 12% of employer share less INR 1250)
A/c 02: Admin Charges (0.5% of basic pay)
A/c 10: EPS (8.33% of employer share to a max of Rs. 1250 pm)
A/c 21: EDLI (0.5% of basic pay to a max of INR 75 pm)
A/c 22: Admin charge on EDLI
Regards
Rahul
Thanks Rahul Sir,
That would of great help. Thanks for sharing knowledge
Dear Shreesh,
Whatever has been mentioned by Mr. Chhabra, I would like to add one additional thing as per PF circular dated 29.08.2014 and clause - 8 of that circular :-
"" As EPS will henceforth apply only to EPF members whose pay at the time of becoming PF member is not more than Rs.15,000/- per month on or after 01.09.2014 the entire employer and employee contribution shall remain in the Provident Fund and no diversion to EPS shall be made for all new PF members on or after 01.09.2014 having salary more than 15,000/- at the time of joining. This must be ensured as any negligence on this issue may lead to unwarranted litigations.""
I have noticed that there are organizations who have not noticed this circular and till date depositing to EPS though the employees are not eligible for EPS membership.
Thanks & Regards,
S K Bandyopadhyay ( Howrah, West Bengal)
+91 98310 81531

Well, that was something I wasnt aware about. Is there anything same related to ESIC as well?
ESIC has its own rule i.e contribution period and coverage limit. Please go through the ESIC rules.
S K Bandyopadhyay( Howrah, West Bengal)
Dear Nanu1953 / S K Bandyopadhyay,
Do you have the official notification?
Regarding non coverage under EPS (those employees whose pay at the time of becoming PF member is not more than Rs.15,000/- per month). All new PF members on or after 01.09.2014 having salary more than 15,000/- at the time of joining, the entire employer and employee contribution shall remain in the Provident Fund and no diversion to EPS shall be made.
In our company there are many new joiners whose salary is more than 15k, but both PF and Pension deducted and deposited.
Thanks.
Dear Mr. Pan Singh,
Please visit to EPFO site. Go to menu office circular and notices. Select 2014-15 financial year. Select date 29.08.2014. There are probably few circulars. Select the correct one. You will find the Official notification. There are many organizations who have unnoticed the specific circular/notification.
Please initiate action from current month and talk to your PF regional office for recovery of the money already deposited to EPS account.
Thanks & Regards
S K Bandyopadhyay( Howrah, WB)
+91 98310 81531

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