No Contribution On Salary Exceeding Statutory Limit Under EPS

EPFO Update on EPS Contributions

EPFO has stated that henceforth no permission will be accorded for contributions under EPS on wages higher than the statutory limit under Para 11(3) of the Scheme. A copy of the circular dated 8.11.2013 in this regard is attached for your information.

Thanks

EPFO Circular on Retrospective Salary Effect

Please refer to another circular issued by EPFO on 8.11.2013 (copy attached), which states that retrospective effect can be given to a higher salary in the case of EPS if interest and damages are paid.

Thanks

Truly, PF Office has passed a joke of the day by sending circular numbers 528 and 529 dated 8-11-2013, which appear to be contradictory. One circular says that contributions on higher wages are permitted by retrospective effect, while the other circular states that contributions on higher salary are not allowed. However, it may be pointed out that contributions on a higher salary will not be allowed henceforth. This means that those who are currently contributing on a higher salary can continue to do so, but no new cases will be permitted. Now, regarding the circular on retrospective effect, it essentially allows you to contribute on a higher salary by paying interest and damages from a backdate, effectively nullifying the restriction of the earlier circular.

I believe the PF Office has made a joke of the year. It appears that a new laughter service has been initiated by EPFO.

In view of the enclosed Kerala High Court order and Supreme Court confirming the Kerala High Court order, PF authorities have to permit members to contribute based on their higher salary.

FPF Membership from 01/12/1973 to 16/11/1995 will be taken into consideration at the time of deciding Pensionable Service. EPS Membership from 1995 until the date of retirement or attaining the age of 60 years will also be taken into consideration for deciding Pensionable Service.

You have mentioned the Date of Retirement as 31-10-1953. What is this? Further, what is your Contribution to EPS (EPS Wages beyond 15000)?

Regards,

Age Limit in the EPF Act

Is there any age limit mentioned in the EPF Act?

Management Contribution After Retirement

Is management contribution necessary after the retirement age of 60?