Need Clarification EPS Contribution for Members having Basic More than 15000/-

Dear Sir/Madam,

Please be informed that in our company, we are paying a 12% employer contribution to EPF members' accounts irrespective of the basic amount. Now, the question pertains to changes in the EPF Act effective September 1st, 2014.

According to the amendment in September 2014, employees receiving a basic salary exceeding 15,000/- and if it's their first-time employment are not eligible to receive the EPS contribution from the employer's portion. The full 12% contribution must be remitted to Account No. 1.

However, we have made a mistake and not followed the rules. This means we have remitted the EPS amount for all employees.

Kindly suggest how we can correct this now.

This can be corrected from the PF Office. Normally, such incorrect contributions will be automatically corrected by the system itself. However, you can personally visit the PF Office to have it corrected.

My employer has done the same thing. The entire amount was supposed to be credited to PF, but they credited some into EPS.

Please update on what the resolution was.