enhanced pension
with respect to the latest supreme court judgement on EPF, can all members start contributing @ 8.33% of actual salary even if not done till date. i have been contributing only 12% on Rs 15000/-. My employer has also contributed equally. But, can i start contributing on actual basic & DA from now. Please clarify more
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Factors you should consider before opting for higher pension under EPS scheme - http://www.ecoti.in/2pivSY11 Regards, Arvind Patel > On 05-Apr-2019, at 5:40 PM, Srividya RAMAKRISHNAN wrote: > > > > > Srividya RAMAKRISHNAN > Srividya RAMAKRISHNAN posted a message in "myEPF ". > Subject: enhanced pension. > with respect to the latest supreme court judgement on EPF, can all members start contributing @ 8.33% of actual salary even if not done till date. i have been contributing only 12% on Rs 15000/-. My employer has also contributed equally. But, can i start contributing on actual basic & DA from now. Please clarify > Reply Reply to this email to post a comment. > > If you believe that this post is inappropriate for this Circle, report it. > If you don't want to receive emails from us in future, please Unsubscribe. > more
Apr 08
SC has ruled that Pension is payable on the full salary provided the retired personnel from various private and public sector organisations pay/remit the difference in contribution with interest to PF office. I don't understand the modalilites to calculate the difference by those who retired long back and have no records to calculate. Will the respective employers do the calculation on behalf of the retired employees and inform them the differential amount to be paid by such employees to PF office?. Any one who can help in this.......please. more
Apr 07
In view of SC ruling in Marthwada Garamina bank Karmachari Sangatan case in SLP No.1205/2009, the EPFO has issued a circular to its Departmental Officers not press the employee to contribute on Salary more than Rs.15000 p.m vide. Circular No. c-I/1/112/2017 (Tech Mahendra Ref)/22486 dt.03/01/2018. Accordingly, No employee/employer is obliged to contribute on wages above Rs.15000 P.M. (Except both employee & employer wants to contribute on higher wages voluntarily.) more
Apr 07
Now as per statutory, you will contribute 12% on your salary(basic+DA) and equal contribution to be done by your employer towards P F.. Out of employer's contribution, 8.33% of Rs 15,000/- I.e ₹1250/- goes to pension fund I.e EPS'95 from which you will get pension after 58 years of age. Now govt. to give orders for increasing of allowable salary. The SC judgement is for old cases before 2014. more
Apr 07
what will be the situation if the employer does not want to contribute on actual salary? more
Apr 08
The Orders silent on various aspects. However as an individual it is good that you save whatever you can in EPF for your old age requirements. The money is safe so for. more
Apr 06
