Hello all, I am new to EPFO and need suggestions specifically for employers. If someone joins the organization in the middle of the month with a monthly salary of up to 30k, once I create an employee registration in the EPFO portal, what would be the Monthly EPF Wages as of the joining date? Is the fixed amount 15k? Please provide guidance on this.
Thanks,
Regards, Jamna Patel
From India, Ahmedabad
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Thanks,
Regards, Jamna Patel
From India, Ahmedabad
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If you keep it at Rs 15,000, then put Rs 15,000 as PF wages. For the month of joining, since the number of days is less, let's say 15 days, you can show the wages earned as Rs 7,500 or whatever is payable in proportion to Rs 15,000.
From India, Kannur
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4510From India, Kannur
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Understanding PF Wages and EPFO Contributions
PF wages of 15,000/- per month at the EPFO portal mean the organization is contributing PF up to the ceiling limit, which is 15,000/-. However, the actual PF Gross is 30,000/- as mentioned in the original post.
If this is the first-time employment of the employee, he is an excluded employee. But the organization may voluntarily cover the employee under the EPFO Scheme. As the employee has joined in the middle of the month, his actual PF gross is 15,000/- for the joining month. For the rest of the months, his PF gross will be 30,000/-. After adjusting any Leave Without Pay (LWP), if the PF Gross is equal to or more than 15,000/- per month, the PF contribution should be on 15,000/- up to the ceiling limit until the PF Gross comes down below 15,000/- per month after adjusting LWP.
Regards, S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] USD HR Solutions - To strive towards excellence with effort and integrity
From India, New Delhi
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PF wages of 15,000/- per month at the EPFO portal mean the organization is contributing PF up to the ceiling limit, which is 15,000/-. However, the actual PF Gross is 30,000/- as mentioned in the original post.
If this is the first-time employment of the employee, he is an excluded employee. But the organization may voluntarily cover the employee under the EPFO Scheme. As the employee has joined in the middle of the month, his actual PF gross is 15,000/- for the joining month. For the rest of the months, his PF gross will be 30,000/-. After adjusting any Leave Without Pay (LWP), if the PF Gross is equal to or more than 15,000/- per month, the PF contribution should be on 15,000/- up to the ceiling limit until the PF Gross comes down below 15,000/- per month after adjusting LWP.
Regards, S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] USD HR Solutions - To strive towards excellence with effort and integrity
From India, New Delhi
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Provident Fund - Excluded Employee - Definition.pdf