Dear seniors, does central government contribute 1.16% in eps? If you have more information about the same please do share.
From India, Pune
Acknowledge(0)
Amend(0)
470From India, Pune
Acknowledge(0)Amend(0)
Dear Prashant,
Yes, the central government contributes 1.16% up to a ceiling salary of Rs. 15,000. Those who opt to contribute beyond the ceiling salary have to remit this 1.16% on the amount beyond the ceiling salary.
Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
Yes, the central government contributes 1.16% up to a ceiling salary of Rs. 15,000. Those who opt to contribute beyond the ceiling salary have to remit this 1.16% on the amount beyond the ceiling salary.
Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
Dear Prashant,
The statutory obligation of pension contribution is up to the ceiling salary only. However, there was an option to contribute based on the actual salary beyond the ceiling limit. As of 01.09.2014, this provision has been withdrawn. Those who have already exercised the option can continue to contribute based on the actual salary, provided that: 1) They must submit a fresh option within six months starting from 01.09.2014, and 2) The Government contribution of 1.16% for the above-ceiling salary must be paid by the member.
All provisions of the Employees' Pension Scheme are applicable to all EPF members, regardless of whether they belong to public or private institutions.
Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
The statutory obligation of pension contribution is up to the ceiling salary only. However, there was an option to contribute based on the actual salary beyond the ceiling limit. As of 01.09.2014, this provision has been withdrawn. Those who have already exercised the option can continue to contribute based on the actual salary, provided that: 1) They must submit a fresh option within six months starting from 01.09.2014, and 2) The Government contribution of 1.16% for the above-ceiling salary must be paid by the member.
All provisions of the Employees' Pension Scheme are applicable to all EPF members, regardless of whether they belong to public or private institutions.
Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)Join Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
Central-Governm ent- of-India-Holida y-List 2016.pdf
Central-Governm ent- of-India-Holida y-List 2016-page-001.j pg