Dear All, Pl find attached PF amendment circular dated 14/07/2014 of Provident Fund Enhancement of Wage Celling from Rs. 6500/- to 15000/-. This is for your kind information pl.
From India, Nasik
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48From India, Nasik
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Hi, Still we need to wait final notification will come, this is only the amendment and the enhancement on wage ceiling.
From India, Mumbai
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From India, Mumbai
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Thanks, Mr. Ganesh, for the update. Going by the circular attached by Mr. Ganesh, it's reliably known that EPFO is on track to issue the necessary notification. In all probability, it's going to be with prospective effect only. Therefore, all the employers and employees may start working out the financial implications respectively.
Regards
From India, Bangalore
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From India, Bangalore
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Thanks for the circular uploaded. However, the circular is internally issued from department to department, so please do not misguide the employers.
Note for Employers
Employers should wait until notifications are issued by the local concerned regions.
Thank you.
From India, Bangalore
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Note for Employers
Employers should wait until notifications are issued by the local concerned regions.
Thank you.
From India, Bangalore
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Hi All, As per the new notification what would be the PF deduction from employee is his Basic + DA is 17000. Please confirm Vinod Krishnadas
From India, Trivandrum
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From India, Trivandrum
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Thanks Ganesh, Finance minister also increased minimum EPF pension to 1000. Any one who come across notification on minimum pension, please share it on this forum.
From India, Thane
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From India, Thane
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EPFO Members to Get Portable Universal Account Number (UAN)
The Labour Ministry informed the Lok Sabha yesterday that all active contributors of the EPFO will receive a portable Universal Account Number (UAN) very soon, preferably by 15th October 2014. This UAN portability will be effective throughout the working career of the EPFO member and can be used anywhere in India.
Attached herewith is the news article for reference.
Thanks,
Anil Sharma
From India, Pune
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The Labour Ministry informed the Lok Sabha yesterday that all active contributors of the EPFO will receive a portable Universal Account Number (UAN) very soon, preferably by 15th October 2014. This UAN portability will be effective throughout the working career of the EPFO member and can be used anywhere in India.
Attached herewith is the news article for reference.
Thanks,
Anil Sharma
From India, Pune
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Hi can any one clarify me about our net salary affect because of epf wages increases to 15000.. Will employee suffer on his take home salary or not?? Please give clear explanation.
From India, Chennai
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From India, Chennai
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Once the PF ceiling is raised from Rs 6,500 to Rs 15,000 per month, as per the notification to be issued by the PF department soon, the employee whose salary is Rs 17,000 per month (Basic & DA) will have the PF deduction from both the employee and employer based on Rs 15,000 per month at 12% and 13.61% respectively. Therefore, the total contribution (25.61%) will be deposited, amounting to Rs 3,842 per month. Hope this is clear to you.
Regards
From India, Calcutta
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From India, Calcutta
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As per my information, this is the proposed ceiling figure that needs approval by the Rajya Sabha, the Upper House of the Parliament of India, followed by the President's approval too. Correct me if I am wrong.
From India, Calcutta
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From India, Calcutta
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UAN Allotment for EPF Members
Now, UANs are allotted to all EPF members by the PF Department. You can check the UANs of all your employees through your EPFO login. EPFO has issued a notice for all employers, which is attached here. The complete process is available on the EPFO website.
Thank you.
From India, New Delhi
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Now, UANs are allotted to all EPF members by the PF Department. You can check the UANs of all your employees through your EPFO login. EPFO has issued a notice for all employers, which is attached here. The complete process is available on the EPFO website.
Thank you.
From India, New Delhi
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Thanks for update regarding the enhancement of PF deduction limit up to Rs.15,000/- . We have to wait for Notification on this behalf. Sudhir Bhardwaj
From India, Delhi
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From India, Delhi
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What are the ways to ensure people still don’t fight for increasing their salary as they have PF deductions happening due to latest changes in the PF guidelines
From India, Delhi
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From India, Delhi
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Dear Senior,
As we all know, if an employee's count exceeds 19, PF registration is essential. However, if our employee count is 14 and we are going to do business with any agency, then we require the PF number. What will be the procedure for PF registration? Your reply is essential for me.
Thank you.
From India, Delhi
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As we all know, if an employee's count exceeds 19, PF registration is essential. However, if our employee count is 14 and we are going to do business with any agency, then we require the PF number. What will be the procedure for PF registration? Your reply is essential for me.
Thank you.
From India, Delhi
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Hi, your question is whether, with a staff strength of 14, you are required to get registration under the PF Act. You have also informed that your company is going to do business with an agency.
As far as your company is concerned, you do not require PF registration under the PF Act since the total strength is less than 20.
Now let me address your second point. It is clear that you are going to deal with an agency business. In that case, you will be appointed by the principal company to work on their behalf dealing with agency business.
If the principal company is covered and has registration under the PF Act, they will insist that you obtain PF registration for your company. Furthermore, I would like to add that PF registration can be taken voluntarily by your company even if the number of staff members is less than 20.
Instead of obtaining PF registration, if the principal company agrees to deposit PF contributions on behalf of your staff members, then it will be acceptable. The amount of PF contribution deposited by the principal company will be deducted from your bill. Please take note of this.
Ultimately, the decision lies with the principal company.
Regards,
From India, Calcutta
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As far as your company is concerned, you do not require PF registration under the PF Act since the total strength is less than 20.
Now let me address your second point. It is clear that you are going to deal with an agency business. In that case, you will be appointed by the principal company to work on their behalf dealing with agency business.
If the principal company is covered and has registration under the PF Act, they will insist that you obtain PF registration for your company. Furthermore, I would like to add that PF registration can be taken voluntarily by your company even if the number of staff members is less than 20.
Instead of obtaining PF registration, if the principal company agrees to deposit PF contributions on behalf of your staff members, then it will be acceptable. The amount of PF contribution deposited by the principal company will be deducted from your bill. Please take note of this.
Ultimately, the decision lies with the principal company.
Regards,
From India, Calcutta
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No notification in this regard has been issued by the EPF department, so the effective date is not known. EPFO is working on preparatory activities. Please wait for the notification. In my estimate, the ceiling limit may be Rs. 15,000/- on the gross monthly salary (including all components) instead of the current ceiling limit of Rs. 6,500/- (Basic+D.A). I hope it will be effective from 01.04.2014, or the notification will be declared shortly.
Best Regards,
Mohan Nair.
From India, Mumbai
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Best Regards,
Mohan Nair.
From India, Mumbai
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Wage-ceiling-ep f-6500-15000-ci rcular-circular .pdf