Will the EPS amount from organization A be merged with the current company?

Juana123
Hello everyone, There is a rule after 2014 Sep, an employee with a salary of more than 15000 is not eligible for EPS.

I worked in an organization A in 2017-2018 with PF and EPS, my salary was more than 15000. I withdrew PF during 2018. They shouldnt have created EPS, I didnt know that then.
Now I transferred EPS to the current organization and the organization A service is transferred to the current company.

The current company has also created PF and EPS, current company confirmed they will raise from 3 to merge PF and EPS.

My question is, will the EPS amount from organization A be merged with the current company?
drsivaglobalhr
Dear Colleague,

There is no such rule that for persons drawing above 15K EPS is not applicable. The clarity is that a member for the first time who was not previously member in PF if he joins in a company he may be exempted from coverage under PF as well as EPS etc and he is called " Exempted employee"

- However it is not that they shall not be covered under PF / EPS. In case of employees drawing more than 15k also PF and EPS can be deducted if the employer and employee are willing,

-In this case some companies restrict the contribution to 15K only for PF/EPS.

-Some companies contribute for the entire salary like consolidated pay or Basic Pay and DA without any restriction to 15K as a welfare measure.

- In your case the EPS accumulations can be transferred to your current organization as your Universal Account Number remains same despite your PF/ EPS Account number changes from organization to origination. ( may be you would have closed some PF in some companies but EPS would still remain)

- You may furnish all you PF/ESP number to your current employer/ HR who will support you in this process.
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