Notes For All On Pf Notification 15000 - PDF Download

Dear All
Refer to attach Net Result & Opinion on PF Notification of enhancing limit to 15000

Dear Hiren ji,
Thank you very much Sir for your elaboration on PF new amendments with net results and your opinion on it.
I am bit confused on your Point E to NET RESULTS and OPINION. May I request you to kindly have a re-look on it?
Also, could you please explain where it is mentioned in the notification that the employees whose pay at the time of joining the establishment in case is over and above 15000 are only to join EPF and EDLI Scheme and shall not be eligible for joining pension scheme?

Dear Mr.Hiren,

The view raised by Mr.Keshav Korgaonkar on your Point E of NET RESULTS and OPINION seems to be confusing.

In my opinion, the Employer's contribution of 8.33% on Rs. 15000/- towards EPS would be Rs.1250/- and balance of Rs. 550/- will be remitted to Employer's PF contribution.

We need to seek clarifications from Provident Fund Commissioner about the employees whose pay at the time of joining the establishment in case is over and above 15000 are only to join EPF and EDLI Scheme and shall not be eligible for joining pension scheme, since there was a mail from Esewa about the salient features, which is enumerated below :

__________________________________________________ _____________________

From: Employer Esewa [mailto:employeresewa@epfoservices.in]

Sent: Thursday, August 28, 2014 10:01 AM

To: Epfo

Subject: Increase in Wage Ceiling- EPF ACT Amendments

The EPF Act and Scheme Amended w.e.f 01-09-2014;

Salient Features are;

1. Wages Ceiling of EPF increase to Rs. 15000.

2. Minimum pension Rs. 1000 for 2014-15.

3. EDLI benefit increase by 20 percent.

4. Fresh option to be exercise within 6 months for contributions beyond Rs. 15000.

5. No fresh membership to EPS for employees Above Rs. 15,000 at time of joining.

__________________________________________________ _______________________________

In case of any information from Provident Fund Officials, shall share the same with the members.

Regards,

Satishkumar

Dear Seniors,
Greeting of the day to all !!
I'm searching answer for my my queries many places, but unfortunately could not get it. Hence requesting you all to help me on this.
My query is, if any employer make delay payment of Employees Provident Fund (Both the Contribution and Deduction), is it effects the interest on part of employee or employees will get full interest from when contribution is supposed to be paid.

Dear All,
How the calculations will be done for employee whose basic is Rs. 100000/- and was contributing on entire basic till 31.08.2014?
As the fresh consent is required for employees contributing on more than 15000/- salary; can they discontinue being a member under PF?
Regards,

Paragraph 11 and clause 7 of attached circular states the same as you mentioned.
employees whose pay at the time of joining the establishment in case is over and above 15000 are only to join EPF and EDLI Scheme and shall not be eligible for joining pension scheme