Understanding EPFO's New Circular: Can Higher Earners Opt for Voluntary Scheme Membership?

The EPFO Head Office in New Delhi, via their circular no. WSU/2023/19/para 26(6)(E-108547) dated 02.06.2023, provides for the enrollment of an employee as a member of the scheme whose monthly pay exceeds the statutory wage ceiling (currently INR 15,000 per month), i.e., those who are excluded from mandatory membership of the scheme. The paragraph also allows a scheme member to contribute based on actual (higher) pay in a specified manner with a joint request.

Regards,
Suresh

Can you kindly elaborate on which scheme the provision relates to?

We know that a member enrolled after September 2014 and having a basic salary above 15,000/- cannot become a member under the PF pension scheme.

Regards,

Dear Subhash Krishnan,

Please read the last points, numbers 11 and 12, of the attached EPFO Pension final circular dated 29.12.2022. In such cases, you need to submit a joint declaration.

Regards,

Sna