An employees completes 58 yrs in the month of Jan'14. While depositing his pf in the month of Feb'14 for Jan'14, the entire 12% of employer's share goes into PF as the contribution towards pension fund becomes ZERO.
But what about the EDLI (0.5% of PF salary) and EDLI Admin. charges (0.01% of PF salary). Will the EDLI continue or like pension it will also become zero after attainment of 58 yrs. i.e. whether the total contribution towards pf becomes 25.1% (12% employees pf share, 12% employer's pf share and 1.1% pf admin. charges) or it remains as 25.61% (12% employees pf share, 12% employer's pf share, 1.1% pf admin. charges, 0.5% edli and 0.01% edli admin.charges).
pl. revert with your inputs....
But what about the EDLI (0.5% of PF salary) and EDLI Admin. charges (0.01% of PF salary). Will the EDLI continue or like pension it will also become zero after attainment of 58 yrs. i.e. whether the total contribution towards pf becomes 25.1% (12% employees pf share, 12% employer's pf share and 1.1% pf admin. charges) or it remains as 25.61% (12% employees pf share, 12% employer's pf share, 1.1% pf admin. charges, 0.5% edli and 0.01% edli admin.charges).
pl. revert with your inputs....