Hello everyone, There is a rule after 2014 Sep, an employee with a salary of more than 15000 is not eligible for EPS.

I worked in an organization A in 2017-2018 with PF and EPS, my salary was more than 15000. I withdrew PF during 2018. They shouldnt have created EPS, I didnt know that then.
Now I transferred EPS to the current organization and the organization A service is transferred to the current company.

The current company has also created PF and EPS, current company confirmed they will raise from 3 to merge PF and EPS.

My question is, will the EPS amount from organization A be merged with the current company?

From India, Bengaluru
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Drsivaglobalhr
Doctor Siva Global Hr

Dear Colleague,

There is no such rule that for persons drawing above 15K EPS is not applicable. The clarity is that a member for the first time who was not previously member in PF if he joins in a company he may be exempted from coverage under PF as well as EPS etc and he is called " Exempted employee"

- However it is not that they shall not be covered under PF / EPS. In case of employees drawing more than 15k also PF and EPS can be deducted if the employer and employee are willing,

-In this case some companies restrict the contribution to 15K only for PF/EPS.

-Some companies contribute for the entire salary like consolidated pay or Basic Pay and DA without any restriction to 15K as a welfare measure.

- In your case the EPS accumulations can be transferred to your current organization as your Universal Account Number remains same despite your PF/ EPS Account number changes from organization to origination. ( may be you would have closed some PF in some companies but EPS would still remain)

- You may furnish all you PF/ESP number to your current employer/ HR who will support you in this process.

From India, Chennai

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