EPF Ceiling Limit Update: What Does the New Rs. 15,000 Gazette Mean for You?

EPF Ceiling Limit Update

Please find the EPF Ceiling Limit of Rs. 6,500 - 15,000 Gazette for your information.

Regards,

Will the contribution be calculated up to Rs. 15,000, or will it be deducted on Rs. 6,500? What will be the limit of the pension fund?

Regards,
Dinesh Kumar

Thank you for providing the gazette notification. Please guide us on how we will calculate the salary as shown in the example below:

Salary Breakdown Example

- Salary: $11,000/-
- HRA: $5,000/-
- Other Allowance: $3,000/-
- Conveyance: $800/-

Kindly advise on how we should deduct these amounts from the employee's salary.

Thanks & regards,

Vinod Kr. Sood

[Phone Number Removed For Privacy Reasons]

Earlier, employees who were enjoying the benefit of EPF should continue if their basic salary rose above Rs. 15,000 or less. In that case, compliance should be based on the actual basic salary or on Rs. 15,000. The administrative charges should remain the same as before. Instead of Rs. 6,500 (EPF/EDLI ceiling), Rs. 15,000 should be considered for EPS/EDLI.

A/C 1: 12% (+VPF) + 3.67% of EPF salary.
A/C 2: 1.1% of EPF salary, not less than Rs. 5.
A/C 10: 8.33% of EPS salary (ceiling is Rs. 15,000), not more than Rs. 1,250 each.
A/C 21: 0.5% of EDLI salary (ceiling is Rs. 15,000), not more than Rs. 75 each.
A/C 22: 0.01% of EDLI/EPS salary (ceiling should be Rs. 15,000), not less than Rs. 2.

Thanks & Regards,
Sumit Kumar Saxena

Sir,

If workmen's payment is more than $16,500 per month, will PF be deducted or not?

Hi All,

I have a doubt regarding PF. On what amount is the PF applicable? I know it's Rs. 15,000. Can anyone explain how the process works?