Can anyone clarify me that if wages for an employee will be Rs.15000/-, then will he/she be eligible for pension in EPF act? Or both employee and employer contribution will be transferred to EPF?
From India, Jabalpur
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1From India, Jabalpur
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Yes! If the employee’s salary is up to Rs.15000 per month he/she will be eligible for EPF and EPS.
From India, Delhi
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From India, Delhi
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If the employee was not an EPF member earlier and at the time of the first enrollment under the EPF Act, his salary/wages are more than 15,000/-, then he is eligible only for EPF, not for EPS. However, if the member was previously a member of EPF, then he will continue to contribute to both EPF and EPS. EPS contributions will be limited to 15,000/-. Please refer to the notification from the Government of India regarding the same. Attached here is the notification.
From India, Rudarpur
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From India, Rudarpur
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EPF Pension.xls
EPF - Pension contribution is zero WHY.jpg