So, for every employee receiving a basic pay equal to Rs 15,000 or more, Rs 1,250 each month is diverted into EPS. Out of employer’s contribution of 12% or 10% (as the situation stands), 8.33% is directed to Employees’ Pension Scheme. If your organization employs less than 20 employees (along with certain other pre-requisites as per the EPFO rules), the contribution rate from both employee and the employer is limited to 10%. An equal contribution is paid by the employee also. The employer contribution is calculated as 12% of total of the following components - (basic wages + dearness allowance + retaining allowance). 15,000 per month, you are termed a non-eligible employee and it is not mandatory for you to become a member of the EPF, although you can still register with the consent of your employer and approval from the Assistant PF Commissioner. If you are drawing a salary higher than Rs. Organizations with 20 or more employees are required by law to register for the EPF scheme, while those with fewer than 20 employees can also register voluntarily.
15,000 per month, it is mandatory for you to be opened an EPF account by your employer. If you are a salaried employee with a (basic + dearness allowance) less than Rs.
Here’s a brief guide that will help you figure out whether you’re eligible, and how to apply. The Employee Provident Fund (EPF) is a scheme run by the Employees’ Provident Fund Organization (EPFO), which is aimed at providing social security and retirement benefits.
0 kommentar(er)
