With effect from November 2009, the National Floor Level of Minimum Wage has been increased to Rs 100 per day from Rs 80 per day (which was in effect since 2007).
Enrolment: An employee is eligible for membership from the day he joins the covered establishment.
If the employee’s emoluments exceed Rs. 6,500/- per month, he has the option to join the Scheme(s) with the consent of employer.
Declare previous employment details, if any, in Form No. 11 to the employer.
On becoming a member of the Schemes file details in Form No. 2 ( family particulars/ nominations) through the employer.
Rate of contribution payable by a member shall be @ 12% of his emoluments.
A member can contribute statutarily over and above the prescribed rate.
A member is entitled to various benefits & facilities such as withdrawals, advances, pensions, death insurance etc.