Good morning,
I would like to ask a question about the PF contribution process through the PF portal. It has surprisingly shown that one of our new employees is not entitled or eligible for the Pension scheme. I would also like to inform you that the UAN number of the said employee has been generated by his previous company. In this situation, we have paid both his shares to his EPF account. Could you please guide me on how we can properly submit his Pension share?
From India, Kolkata
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4I would like to ask a question about the PF contribution process through the PF portal. It has surprisingly shown that one of our new employees is not entitled or eligible for the Pension scheme. I would also like to inform you that the UAN number of the said employee has been generated by his previous company. In this situation, we have paid both his shares to his EPF account. Could you please guide me on how we can properly submit his Pension share?
From India, Kolkata
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If this employee had joined an establishment for the first time after September 2014 with a salary of more than Rs 15,000, he would be out of the purview of the Pension Scheme. Such an employee could either be treated as an Excluded employee for EPF also but EPF being an investment which will give tax benefits along with savings, if the employee and the employer had decided that the employee should be given coverage to EPF, he could be registered under the Provident Fund scheme and a Universal Account Number (UAN) generated.
Since he would be covered by EPF but not by the pension scheme and the employer's contribution in respect of him should be contributed exclusively to the Provident Fund without a contribution (8.33% of wages) to the Pension Fund. When he changes employment, the same should be followed. Therefore, there is nothing wrong in it but you can continue to contribute both the employee's share and your share to EPF alone.
From India, Kannur
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Since he would be covered by EPF but not by the pension scheme and the employer's contribution in respect of him should be contributed exclusively to the Provident Fund without a contribution (8.33% of wages) to the Pension Fund. When he changes employment, the same should be followed. Therefore, there is nothing wrong in it but you can continue to contribute both the employee's share and your share to EPF alone.
From India, Kannur
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