The provident fund contribution was fixed at 10 percent of salary with effect from 17th May 1989 and remained at 10% until 21st September 1997. The EPF scheme was launched on 16th November 1995. What was the employer's contribution to the Pension Fund from 16th November 1995 to 21st September 1997? Please elaborate.
Regards,
Kwatra
From India, Delhi
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1Regards,
Kwatra
From India, Delhi
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EPS Scheme and Employer Contribution
The EPS scheme (not EPF as you mentioned) was launched with effect from 16.11.1995. The Employer Contribution has been 8.33% since then.
A few more facts:
- The earlier Pension Scheme FPF was not compulsory.
- In the earlier FPF Scheme, the contribution ratio was 1.16% Employer, 1.16% Employee, 1.16% Govt.
Regards,
S. Sethupathy,
Erode
From India, Selam
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The EPS scheme (not EPF as you mentioned) was launched with effect from 16.11.1995. The Employer Contribution has been 8.33% since then.
A few more facts:
- The earlier Pension Scheme FPF was not compulsory.
- In the earlier FPF Scheme, the contribution ratio was 1.16% Employer, 1.16% Employee, 1.16% Govt.
Regards,
S. Sethupathy,
Erode
From India, Selam
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I would like to mention one more thing here. During the above-mentioned period, the pay ceiling was Rs. 5000, which was later raised to Rs. 6500. Therefore, the maximum EPS contribution was Rs. 417 only in those days. For accuracy, please link the dates of amendments to the pay ceiling.
Thank you.
From India, Pune
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Thank you.
From India, Pune
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EPF - Pension contribution is zero WHY.jpg
PF Pension fund contribution beyond 58 years of age.pdf
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(Fact Checked)-The user's reply is correct. The amendment regarding the pay ceiling and its impact on the maximum EPS contribution during the specified period is accurate. (1 Acknowledge point)