Employers Contribution Under PF Voluntary Coverage

PriyankaDasgupta
1.What is the percentage break up of employers contribution under PF voluntary coverage like EPF ,EPS and Admin charges as per the new amendments in the act? As per my knowledge the contribution is 10% but what will be the break up or there is any changes as per the new amendments?
2. A fixed amount of Rs 1500(10% of Rs 15,000) will work in this scenario for every employee or it should be variable for each employee as per 10% of their basic salary?
prathapsvumba
Dear Priyanka,
As PF Ceiling increased from 6500/- to 15000/- from 01.09.2014, Employer Contribution under PF Voluntary coverage also increases.
Previously
EPF Employees share 6500 x 12% 780
EPS Employer share 6500 x 8.33% 541
EPF employer share 6500 x 3.67% 239
EDLI charges 6500 x 0.5% 33
EPF Admin charges 6500 x 1.1% 72
EDLI Admin charges 6500 x 0.01% 0.65 ( Round up to Rs 1/-)
As per new Ceiling
EPF Employees share 15000 x 12% 18000
EPS Employer share 15000 x 8.33% 1249.5
EPF employer share 15000 x 3.67% 550.5
EDLI charges 15000 x 0.5% 75
EPF Admin charges 6500 x 1.1% 161
EDLI Admin charges 6500 x 0.01% 1.5 ( Round up to Rs 2/-).
I hope, I clarified your doubt, Please let me know if you have any queries.
T.Prathap,
HR Executive, Human Resource Department,
Narayana Health Group of Hospitals
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