Dear All,
Hereby i attached EPFO circular dated 28/08/2014 where in notification regarding enhanced statutory wage ceiling to Rs. 15,000/-, minimum Pension of Rs. 1,000/- per month and 20% additional relief on the amount of assurance benefit admissible under EDLI Scheme has been notified for implementation.
While increasing the ceiling the PF authorities should also think of small and medium sector entreprenears. Recently the ceiling was raised from rs 6500 to rs 15000 and since the employer contribution is 13 36% the PF authorities can increase the wage ceiling after five years or reduce the employer contribution to 4 .75% as in ESIC scheme the SME will suffer if the ceiling is revised at preasent after a recent revision
This revision can bye effected for organisation employing above 150 employees or those with turnover of 50crores and above
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