Is contribution to the pension fund mandatory if the basic salary is more than Rs. 15,000/- and the Provident fund contribution amount is higher than Rs. 1800/- pm;
From India, Mumbai
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From India, Mumbai
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In respect of employees who joined later than September 2014, contribution to the Pension Fund is not required. However, for employees who became PF members earlier than September 2014, you must contribute to the Pension Fund even if their salary exceeds Rs 15,000. This rule applies to new employees joining your establishment who were PF members before September 2014.
From India, Kannur
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4769From India, Kannur
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Hi,
Some amendments took place in connection with the effect from September 2014.
If the Date of Joining (DOJ) of the employee is before September 2014 and the employee is already a contributing member to PF/Pension, then the current employer should continue to contribute to the pension even if the PF wages exceed Rs. 15,000. For employees who joined employment after September 2014 with no PF history, they are not eligible for pension contributions. Please note that the PF Pension contribution ceiling is limited to Rs. 1,250. Any contributions exceeding Rs. 1,250 should be credited to the PF account.
From India, Madras
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Some amendments took place in connection with the effect from September 2014.
If the Date of Joining (DOJ) of the employee is before September 2014 and the employee is already a contributing member to PF/Pension, then the current employer should continue to contribute to the pension even if the PF wages exceed Rs. 15,000. For employees who joined employment after September 2014 with no PF history, they are not eligible for pension contributions. Please note that the PF Pension contribution ceiling is limited to Rs. 1,250. Any contributions exceeding Rs. 1,250 should be credited to the PF account.
From India, Madras
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Thank you. If the UAN number is created after September 2014, and the provident fund contribution is higher than Rs. 1800 (as 12% of the complete basic amount is considered for PF contribution by the organization) and also contributions towards the pension fund are made, is this correct? If not, how can I correct it? I am facing problems transferring my previous company's PF to my current company.
From India, Mumbai
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From India, Mumbai
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This is to be sorted out by the previous employer only. As this is only a technical error, you can write to the employer to do the needful. If they are not responding, you can involve the PF Organisation. Anyway, it is a complicated matter for us, though the EPFO can do it easily but they will not do it because they work for themselves and not for the members who are the beneficiaries. This has become worse with the blow that the EPFO has received from the various courts, including the Supreme Court, on higher pension verdicts.
From India, Kannur
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From India, Kannur
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From the above discussion, I found one more query. If a person joins after September 2014, let's say in 2024, completely fresh with no EPF membership earlier at all. Salary above 15000/-, let's say 50000/- per month. If the employee is willing to be an EPF member voluntarily and the employer also agrees, under such circumstances, is family pension membership compulsory or can both contributions be deposited only in EPF.
From India, Pune
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From India, Pune
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ESI contribution rates lowering.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx