Account Nos 01,01,10,21 and 22 are maintained by EPF Organisation to which the employer has to credit the amounts in TOTAL in respect of the entire employees. It has nothing to do with individual employees. However, you have to prepare a separate statement showing individuals salary, Employees contribution to EPF, Employer's contribution (8.33%) to PF and EPF (3.67%) in respect of individual employees so that preparation of contribution crad and annual statement will be easy. Deposit of the amount will be made in total for one month.
Once an employee is covered under the scheme, he continues to be covered irrespective of his salary.
Presently most of the firms do cover employees irespective of their starting salary, though only those whose salary AT THE TIME OF ENTERING is not more than 6500 is covered. In the case of ESI, however, when the salary exceeds 10000, he becomes out of coverage from the next contribution period. That is, if salary exceeds 10000 in May, then till Sept, he has to contribute the prescribed contribution, ie, 1.75% and employer too at 4.75%, but from the next contribution period onwards, ie, from Oct he becomes uncovered.
Regards,
Madhu.T.K
Regards
Once an employee is covered under the scheme, he continues to be covered irrespective of his salary.
Presently most of the firms do cover employees irespective of their starting salary, though only those whose salary AT THE TIME OF ENTERING is not more than 6500 is covered. In the case of ESI, however, when the salary exceeds 10000, he becomes out of coverage from the next contribution period. That is, if salary exceeds 10000 in May, then till Sept, he has to contribute the prescribed contribution, ie, 1.75% and employer too at 4.75%, but from the next contribution period onwards, ie, from Oct he becomes uncovered.
Regards,
Madhu.T.K
Regards