Confused About EPS Contribution Error? Let's Figure Out This Calculation Issue Together

Please help, sir.

Error: EPS Contribution Remitted: Max is equal to rounded 8.33% of EPS Wages added with rounded 1.16% of the EPS Wages above 15000/-. Found on line numbers: [7, 8, 10, 17, 18, 22, 23, 25, 27, 29, 30, 31, 33, 34, 42, 43, 44, 45, 46, 49, 55, 56, 57, 60, 64, 69, 70, 73, 78, 81, 83, 84, 85, 86, 90, 91, 95, 96, 101, 102].

Rounding Values in ECR and Specified Lines

Under ECR and specified lines, the values are rounded UP, which must be either rounded down or rounded up. Reduce the EPS by Rs 1/- and increase the difference by Rs 1/- in the mentioned lines. It will get uploaded without error.

Tested Example

Tested in line 7, the amount should be Rs 814/- and Rs 359/-, totaling Rs 1,117, and so on.

Here, the ECR is rectified only in EPS and difference values; balances are not touched. Please try with this file.

Dear Sir, good morning. Error EPS Contribution Remitted: The maximum contribution is equal to the rounded 8.33% of EPS wages added with the rounded 1.16% of the EPS wages above 15000/- found on line numbers: [3, 6]. Please let me know if you need any further assistance. Thank you.

Error: EPS Contribution Remitted: Max is equal to rounded 8.33% of EPS Wages added with rounded 1.16% of the EPS Wages above 15000/- found on line numbers.

Error EPS Contribution Remitted: The issue mentioned in the discussion pertains to the calculation of the EPS (Employee Pension Scheme) contribution. As per the error message, the maximum EPS contribution remitted should be equal to the rounded sum of 8.33% of EPS wages along with 1.16% of EPS wages above 15000/-. The error seems to be related to the calculation methodology regarding EPS wages and the corresponding contribution percentages. To address this error, it is crucial to ensure accurate computation of EPS wages and apply the correct contribution percentages. Checking the calculation logic and verifying the values used for EPS wages will be essential in rectifying this issue. Additionally, validating the rounding-off methods applied for the percentages mentioned in the error message is necessary to ensure compliance with relevant labor laws and policies. If there are specific guidelines provided by the EPF (Employees' Provident Fund) authorities regarding EPS contribution calculations, referring to those guidelines can help in resolving the error accurately.