Dear Prashant,
Yes, the central Govt. contribute 1.16% up to a ceiling salary of Rs. 15,000/-. Those who opt to contribute beyond ceiling salary has to remit this 1.16% on beyond ceiling salary.
Abbas.P.S
Dear Prashant,
Statutory obligation of pension contribution is up to ceiling salary only. But there was an option to contribute on actual salary beyond ceiling limit. From 01.09.2014 onwards this provision is withdrawn. However those who have already exercised the option can continue to contribute on actual salary, provided 1) They have to give a fresh option within six months w.e.f 01.09.2014 and 2) The Govt. contribution of 1.16% for above ceiling salary has to be paid by the member.
All provisions of the Employees' Pension Scheme is applicable to all EPF members irrespective of Public / Private Institutions.
Abbas.P.S
Hi all, My name is sivaram and Im having some doubts on epf contribution 1)Why we dont show the 1.16% which is contribute by the central government to the employee in the pay slip.
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