Hi Friends,
please find the details on the amendments made to EPF contribution of International Workers.
Regards kml
please find the details on the amendments made to EPF contribution of International Workers.
- Provident Fund withdrawal is not possible until the International Worker retires or reaches 58 years of age, whichever is later (except under specific circumstances).
- Bank account in India has been made a pre-requisite for obtaining refund from Provident Fund Authorities (except where the assignee is covered under a Social Security Agreement).
- Employer's contribution allocated to Pension will no longer be capped at 8.33% of Rs. 6,500 per month.
- No pension benefit will be available to International Workers under the Pension Scheme (except where the assignee is covered under a Social Security Agreement or has rendered more than 10 years of service in India).
Regards kml
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