How to get enhanced pension for in-service employees?
How much does one need to contribute as per the recent Supreme Court order? Is there a specific formula for self-contribution based on the recent pay (Salary + DA)? What if the employee is not paying the salary as per the current DA rates of 139%? Is the current deduction of 1800/- by the employer and 1800/- by the employee towards pension (in my case) justified? I submitted a letter for enhanced pension to the Regional PF Commissioner 15-20 days ago, but no response has been received. Please provide necessary guidance in this regard.
From India, Pune
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How much does one need to contribute as per the recent Supreme Court order? Is there a specific formula for self-contribution based on the recent pay (Salary + DA)? What if the employee is not paying the salary as per the current DA rates of 139%? Is the current deduction of 1800/- by the employer and 1800/- by the employee towards pension (in my case) justified? I submitted a letter for enhanced pension to the Regional PF Commissioner 15-20 days ago, but no response has been received. Please provide necessary guidance in this regard.
From India, Pune
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Current EPS Contribution Limitations
At present, if the EPS is fixed at ₹15,000/- and it is complex to contribute over ₹15,000 in the EPS account, the employer remits over ₹15,000, but the EDLI and EPS freeze at ₹15,000, and the balance contribution is credited to Account 1. EPF may consider such requests from the employer side only, provided the employer is ready to cover all employees in enhanced pension. The procedure is a bit complex for deductions, as all employees have to receive less in Account No. 1 and bear the administrative charges on enhanced pension contributions.
For a single employee or part of an employee group, the department does not entertain requests because, in such cases, the whole file of the establishment has to be shifted to a special range.
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651At present, if the EPS is fixed at ₹15,000/- and it is complex to contribute over ₹15,000 in the EPS account, the employer remits over ₹15,000, but the EDLI and EPS freeze at ₹15,000, and the balance contribution is credited to Account 1. EPF may consider such requests from the employer side only, provided the employer is ready to cover all employees in enhanced pension. The procedure is a bit complex for deductions, as all employees have to receive less in Account No. 1 and bear the administrative charges on enhanced pension contributions.
For a single employee or part of an employee group, the department does not entertain requests because, in such cases, the whole file of the establishment has to be shifted to a special range.
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Is it advisable to approach a lawyer and seek enhanced pension by filing a case in the High Court, or is the PF Commissioner bound to provide assistance and increase all support for enhanced pension? I am willing to contribute the required amount to the pension fund as per EPF 95 rules for enhanced pension. I have submitted an application to the regional PF Commissioner (NAGPUR) but have not received any response to date.
From India, Pune
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From India, Pune
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EPF Pension.xls
EPF - Pension contribution is zero WHY.jpg