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An employee is hired by an Organization at the age of 60 by the virtue of his experience. After 6 months he is enrolled in EPF Scheme. He contributes Rs.1800/month and the Organization with like amount. Now it is almost more than a year. If he continues to serve and stop working after 5 full years of service, what are the benefits he is supposed to get by joining EPF Scheme ?
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Hello Karikalan,
Pl.go thru' the discussion took place on the subject in this link -
The Employees’ Provident Fund Contribution should be paid till the date of his leaving the service, irrespective of the age of the member. However, Employees who ceases to be EPS(pension) member will get Employer's 8.33% contribution in PF a/c.
After retirement if the person works or reemployed with principal employer then PF & ESI deduction is a liability on employer. No upper limit of age prescribed by the act. All contribution amount goes to PF account only. But no EPS contribution. EPS - Upper age limit is 58 years (enhanced to 60 yrs.now?).
But if ESI involved - The ESIC act has not prescribed any upper limit of age so you have to deduct & add employer's contribution and remit to ESI as his emoluments is within Rs.21,000/-.
Read more at: Eligibility of PF and ESIC after retirement - PF & ESI - Labour & Service Law
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