My employee's salary details are as follows:
- Basic + DA = 15000
- HRA = 6000
- Conveyance Allowance = 1000
- Total Gross = 22000
Question: He is a new member, registering for EPF for the first time and has never been under EPF before. Is he eligible for EPS? Will the whole 12% employer contribution go to the EPF account?
Please guide me on the above matter in accordance with the notification released on September 1, 2014, for EPS wages of 15000.
From India
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- Basic + DA = 15000
- HRA = 6000
- Conveyance Allowance = 1000
- Total Gross = 22000
Question: He is a new member, registering for EPF for the first time and has never been under EPF before. Is he eligible for EPS? Will the whole 12% employer contribution go to the EPF account?
Please guide me on the above matter in accordance with the notification released on September 1, 2014, for EPS wages of 15000.
From India
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Eligibility for EPS Membership
The employee is eligible for EPS membership. On and after September 1, 2014, if any employee joins as a fresh candidate, they will be eligible for EPS membership up to Basic & DA ₹15,000/-. If the Basic and DA exceed ₹15,000 per month, then the entire contribution will be deposited into the PF account only.
There is a circular from EPFO in August 2014 regarding the above subject. One may search on the EPFO site to find the same.
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions
From India, New Delhi
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367The employee is eligible for EPS membership. On and after September 1, 2014, if any employee joins as a fresh candidate, they will be eligible for EPS membership up to Basic & DA ₹15,000/-. If the Basic and DA exceed ₹15,000 per month, then the entire contribution will be deposited into the PF account only.
There is a circular from EPFO in August 2014 regarding the above subject. One may search on the EPFO site to find the same.
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions
From India, New Delhi
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EPF-Circular-da ted-23-May-2011 -Splitting-of-M inimum-Wages-fo r-the-Purpose-o f-PF-Contributi on-Not.pdf
Calcu. pf Emp.eps.epf sample sheet for HR site..xls