Dear All, Pl find attached PF amendment circular dated 14/07/2014 of Provident Fund Enhancement of Wage Celling from Rs. 6500/- to 15000/-. This is for your kind information pl.
From India, Nasik
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48From India, Nasik
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Hi, Still we need to wait final notification will come, this is only the amendment and the enhancement on wage ceiling.
From India, Mumbai
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From India, Mumbai
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Dear Sir, Please confirm the date of applicable of the notice.
From India, Kumar
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From India, Kumar
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Dear friends,
Thanks, Mr. Ganesh for the update. Going by the circular attached by Mr. Ganesh, it's reliably known that EPFO is on track to issue the necessary notification. In all probability, it's going to be with prospective effect only. Therefore, all the employers and employees may start working out the financial implications respectively.
From India, Bangalore
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Thanks, Mr. Ganesh for the update. Going by the circular attached by Mr. Ganesh, it's reliably known that EPFO is on track to issue the necessary notification. In all probability, it's going to be with prospective effect only. Therefore, all the employers and employees may start working out the financial implications respectively.
From India, Bangalore
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Mr. Ganesh,
Thanks for the circular uploaded. However, the circular is internally issued from department to department, so please do not misguide the employers.
Aside: Employers should wait until notifications are issued by the local concerned regions.
Thank you.
From India, Bangalore
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Thanks for the circular uploaded. However, the circular is internally issued from department to department, so please do not misguide the employers.
Aside: Employers should wait until notifications are issued by the local concerned regions.
Thank you.
From India, Bangalore
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Hi All, As per the new notification what would be the PF deduction from employee is his Basic + DA is 17000. Please confirm Vinod Krishnadas
From India, Trivandrum
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From India, Trivandrum
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Thanks Ganesh, Finance minister also increased minimum EPF pension to 1000. Any one who come across notification on minimum pension, please share it on this forum.
From India, Thane
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From India, Thane
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Dear HR Fraternity,
Sub: EPFO members to get portable Universal Account Number (UAN)
The Labour Ministry informed the Lok Sabha yesterday that all active contributors of EPFO will receive a portable Universal Account Number (UAN) very soon, preferably by 15th October 2014. This UAN portability will be effective throughout the working career of the EPFO member and can be used anywhere in India.
Attached herewith is the news article for reference.
Thanks,
Anil Sharma
From India, Pune
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Sub: EPFO members to get portable Universal Account Number (UAN)
The Labour Ministry informed the Lok Sabha yesterday that all active contributors of EPFO will receive a portable Universal Account Number (UAN) very soon, preferably by 15th October 2014. This UAN portability will be effective throughout the working career of the EPFO member and can be used anywhere in India.
Attached herewith is the news article for reference.
Thanks,
Anil Sharma
From India, Pune
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Hi can any one clarify me about our net salary affect because of epf wages increases to 15000.. Will employee suffer on his take home salary or not?? Please give clear explanation.
From India, Chennai
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From India, Chennai
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Dear Vinod,
Once the PF ceiling is raised from Rs 6500 to Rs 15000 per month, as per the notification to be issued by the PF department soon, the employee whose salary is Rs 17000 per month (Basic & DA), the PF deduction from the employee and employer will be on Rs 15000 per month at 12% and 13.61% respectively. So, the total contribution (25.61%) will be deposited, i.e., Rs 3842 per month.
Hope this is clear to you.
From India, Calcutta
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Once the PF ceiling is raised from Rs 6500 to Rs 15000 per month, as per the notification to be issued by the PF department soon, the employee whose salary is Rs 17000 per month (Basic & DA), the PF deduction from the employee and employer will be on Rs 15000 per month at 12% and 13.61% respectively. So, the total contribution (25.61%) will be deposited, i.e., Rs 3842 per month.
Hope this is clear to you.
From India, Calcutta
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Ganesh,
As per my information, this is the proposed ceiling figure that needs approval by the Rajya Sabha, the Upper House of the Parliament of India, followed by the President's approval too. Correct me if I am wrong.
From India, Calcutta
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As per my information, this is the proposed ceiling figure that needs approval by the Rajya Sabha, the Upper House of the Parliament of India, followed by the President's approval too. Correct me if I am wrong.
From India, Calcutta
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Dear All,
Now, UANs are allotted to all EPF members by the PF Department. You can check the UANs of all your employees through your EPFO login. EPFO has issued a notice for all employers, which is attached here. The complete process is available on the EPFO website.
Thank you.
From India, New Delhi
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Now, UANs are allotted to all EPF members by the PF Department. You can check the UANs of all your employees through your EPFO login. EPFO has issued a notice for all employers, which is attached here. The complete process is available on the EPFO website.
Thank you.
From India, New Delhi
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Thanks for update regarding the enhancement of PF deduction limit up to Rs.15,000/- . We have to wait for Notification on this behalf. Sudhir Bhardwaj
From India, Delhi
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From India, Delhi
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What are the ways to ensure people still don’t fight for increasing their salary as they have PF deductions happening due to latest changes in the PF guidelines
From India, Delhi
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From India, Delhi
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Dear Senior,
As we all know, if an employee's count exceeds 19, PF registration is essential. However, if our employee count is 14 and we are going to do business with any agency, then we require the PF number. What will be the procedure for PF registration? Your reply is essential for me.
Thank you.
From India, Delhi
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As we all know, if an employee's count exceeds 19, PF registration is essential. However, if our employee count is 14 and we are going to do business with any agency, then we require the PF number. What will be the procedure for PF registration? Your reply is essential for me.
Thank you.
From India, Delhi
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Hi,
Your question is if staff strength is 14, whether you are required to get registration under the PF Act. You have also informed that your company is going to do business with an Agency.
As far as your company is concerned, you do not require PF Registration under the PF Act since the total strength is less than 20.
Now let me address your second point. It is clear that you are going to deal with an Agency business. In that case, you will be appointed by the principal company to work on their behalf dealing with Agency business.
If the principal company is covered and has registration under the PF Act, they will insist that you obtain PF registration for your company. Furthermore, I would like to add that PF registration can be taken VOLUNTARILY by your company even if the number of staff members is less than 20.
Instead of obtaining PF registration, if the principal company agrees to deposit PF contributions on behalf of your staff members, then it will be acceptable. The amount of PF contribution deposited by the principal company will be deducted from your bill. Please take note of this.
Ultimately, the decision lies with the principal company.
Regards,
From India, Calcutta
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Your question is if staff strength is 14, whether you are required to get registration under the PF Act. You have also informed that your company is going to do business with an Agency.
As far as your company is concerned, you do not require PF Registration under the PF Act since the total strength is less than 20.
Now let me address your second point. It is clear that you are going to deal with an Agency business. In that case, you will be appointed by the principal company to work on their behalf dealing with Agency business.
If the principal company is covered and has registration under the PF Act, they will insist that you obtain PF registration for your company. Furthermore, I would like to add that PF registration can be taken VOLUNTARILY by your company even if the number of staff members is less than 20.
Instead of obtaining PF registration, if the principal company agrees to deposit PF contributions on behalf of your staff members, then it will be acceptable. The amount of PF contribution deposited by the principal company will be deducted from your bill. Please take note of this.
Ultimately, the decision lies with the principal company.
Regards,
From India, Calcutta
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Dear HR friends,
No notification in this regard has been issued by the EPF department, so the effective date is not known. EPFO is working on preparatory activities. Please wait for the notification. In my estimate, the ceiling limit may be Rs. 15,000/- on the gross monthly salary (including all components) instead of the current ceiling limit of Rs. 6,500/- (Basic+D.A). I hope it will be effective from 01.04.2014, or the notification will be declared shortly.
Best Regards,
Mohan Nair.
From India, Mumbai
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No notification in this regard has been issued by the EPF department, so the effective date is not known. EPFO is working on preparatory activities. Please wait for the notification. In my estimate, the ceiling limit may be Rs. 15,000/- on the gross monthly salary (including all components) instead of the current ceiling limit of Rs. 6,500/- (Basic+D.A). I hope it will be effective from 01.04.2014, or the notification will be declared shortly.
Best Regards,
Mohan Nair.
From India, Mumbai
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Dear Friends,
Pending notification, I believe only enrollment up to 15,000 may be actioned. However, the contribution limit may not be raised much beyond $6,500. It will lead to the government facing a lot of resistance from employers.
Thank you.
From India, Mumbai
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Pending notification, I believe only enrollment up to 15,000 may be actioned. However, the contribution limit may not be raised much beyond $6,500. It will lead to the government facing a lot of resistance from employers.
Thank you.
From India, Mumbai
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Dear Friends,
There may not be much increase in the contribution limit beyond 6500/-. It will have a lot of burden on some employers from 5 lacs to 50 lacs per annum. For outsourced employees with low salaries, the take-home pay will be lesser, leading to a very unacceptable situation. I hope the PF authorities understand this. If you are looking for services, please contact us:
Diwyesh Dave, D'HUBB HR & Business Solutions
From India, Mumbai
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There may not be much increase in the contribution limit beyond 6500/-. It will have a lot of burden on some employers from 5 lacs to 50 lacs per annum. For outsourced employees with low salaries, the take-home pay will be lesser, leading to a very unacceptable situation. I hope the PF authorities understand this. If you are looking for services, please contact us:
Diwyesh Dave, D'HUBB HR & Business Solutions
From India, Mumbai
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Wage-ceiling-ep f-6500-15000-ci rcular-circular .pdf