According to the EPFO Gazette Notification in connection with the wage ceiling of Rs. 15,000/-, there is no diversion to EPS for all new PF members whose pay/salary is more than Rs. 15,000/- per month at the time of becoming a PF member, i.e., on or after 01.09.2014. Here, pay/salary refers to Basic+DA or Gross Salary. How do they determine whether the salary/pay of the PF member exceeds Rs. 15,000/- per month or not? Please clarify.
From India, Tirumala%20-%20Tirupati
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Pay/salary refers to the PF contribution wages, which include Basic, DA, and Retaining allowances. The decision regarding these components is not ours to make, but it is essential for us to understand them. We are responsible for maintaining the salary statements, ensuring that they provide a clear breakdown of the various components mentioned.
From India, Bangalore
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An employee (New Employee) joining the organization with a Basic+DA of more than 15,000 Rupees (ceiling) is exempted from becoming a member of the EPF. Therefore, there is no need for both employee and employer contributions towards EPF and EPS. You mentioned "THEY," which refers to the Employee Provident Fund Corporation (EPFC), correct? If I am right, my answer is: They won't decide; it is the employer who enrolls employees under this scheme, making those eligible to become EPF members and not enrolling those who are ineligible to become PF members.
From India, Chennai
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From India, Chennai
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Wage-ceiling-ep f-6500-15000-ci rcular-circular .pdf