Clarification on Employee Pension scheme (EPS) will be applicable or not
Respected Seniors,
I am writing this post with reference to the above subject, Please clarify - Those joined EPF for first time after 1 Sep 2014 and earning more than 15,000 Rs in basic and DA will not be contributing to the Pension scheme (EPS).
For new members joining the EPF scheme on or after 1 September 2014, the contribution is required to be made only under the PF and are not eligible for membership for insurance scheme(EPS). Both the employer’s and employee’s share, 12% of salary each will be allocated fully to the PF (A/c 1).
Please find the below attached EPF Gazette Notification (Refer page 2 & 3, points 7 & 8).
I request a favourable reply from from your end sir.
Thank You.
Yours Sincerely
Austin
Respected Seniors,
I am writing this post with reference to the above subject, Please clarify - Those joined EPF for first time after 1 Sep 2014 and earning more than 15,000 Rs in basic and DA will not be contributing to the Pension scheme (EPS).
For new members joining the EPF scheme on or after 1 September 2014, the contribution is required to be made only under the PF and are not eligible for membership for insurance scheme(EPS). Both the employer’s and employee’s share, 12% of salary each will be allocated fully to the PF (A/c 1).
Please find the below attached EPF Gazette Notification (Refer page 2 & 3, points 7 & 8).
I request a favourable reply from from your end sir.
Thank You.
Yours Sincerely
Austin
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