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EPF Limit increased to Rs. 15000 from Rs. 6500 wef 01.09.2014

Vide notification dated 22.08.2014 Ministry of Labour and Employment has increased  Employee Provident Fund (EPF) Limit  to Rs. 15000 from existing Rs. 6500 wef 01.09.2014.

MINISTRY OF LABOUR AND EMPLOYMENT 

NOTIFICATION 

New Delhi, the 22nd August, 2014 

G.S.R. 608 (E).—In exercise of the powers conferred by section 5 read with Sub-section(1) of Section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby-makes the following Scheme, further to amend the Employees’ Provident Funds Scheme. 1952, namely:-

I (1) This Scheme may be called the Employees’ Provident Funds (Amendment) Scheme, 2014.

(2) It shall come into force on and from the Ist day of September, 2014.

2. In the Employees’ Provident Funds Scheme, 1952,-

(a) in paragraph 2, in clause (1), in sub-clause (ii), for the words “six thousand and five hundred rupees”, the words ” fifteen thousand rupees” shall be substituted;

(b) in paragraph 26. in sub- paragraph (6), for the words “six thousand and five hundred rupees’`. the words “fifteen thousand rupees” shall be substituted;

(c) in paragraph 26A, in sub-paragraph (2), in the proviso, for the words “six thousand and five hundred rupees”, wherever they occur, the words “fifteen thousand rupees” shall be substituted.

[F. No. S-35012/112012-SS.11] 

ARUN KUMAR SINHA. Addl. Secy, 

———————————–

NOTIFICATION 

New Delhi, the 22nd August, 2014 

609(E),— In exercise of powers conferred by section 6A read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Pension Scheme, 1995. namely:—

I, (1) This Scheme may be called the Employees’ Pension (Amendment) Scheme, 2014.

(2) It shall come into force on and from the 1stday of September, 2014.

2, In the Employees’ Pension Scheme, 1995, (hereinafter referred to as the principal Scheme). in paragraph 3, in  sub-paragraph 2, in the proviso, for the words “rupees six thousand and five hundred”, wherever they occur, !he words “fifteen thousand rupees” shall be substituted.

3. In the principal Scheme, in paragraph 6, in clause (a), after the words. figures and letter “or 27A of the

Employees’ Provident Funds Scheme, L952″, the words “and whose pay on such dare is less than or equal to fifteen thousand rupees”, shall be inserted.

4. In the principal Scheme, in paragraph It,-

 (a) for sub-paragraph (1) and the proviso thereto, the following shall be substituted, namely:-

11) The pensionable salary shall be the average monthly pay drawn in any manner including on piece rale basis during contributory period of service in the span of sixty months preceding the date of exit from the membership of the Pension Fund and the pensionable salary shall be determined on pro-rata basis for the pensionable service up to the V’ day of September, 2014, subject to a maximum of six thousand and five hundred rupees per month and for the period thereafter at the maximum of fifteen thousand rupees per month:

Provided that if a member was not in receipt of fun pay during the period of sixty months preceding the day he ceased to be the member of the Pension Fund, the average of previous sixty months full pay drawn by him during the period for which contribution to the pension fund was recovered, shall be taken into account as pensionable salary, for calculating pension;

(b) in sub-paragraph (2), for the figures and word “12 months”, wherever they occur, the words -sixty months” shall be substituted;

(c) in sub-paragraph (3),-

(i) for the words, letters and figures “rupees six thousand and five hundred/Rs, 6500”, the words “fifteen thousand rupees” shall be substituted;

(ii) the proviso shall be omitted.

(d) after sub-paragraph (3), the following sub-paragraph shall be inserted, namely:-

“(4) The existing members as on the 11′ day of September, 2014, who at the option of the employer and employee, had been contributing on salary exceeding six thousand and five hundred rupees per month, may on a fresh option to be exercised jointly by the employer and employee continue to contribute on salary exceeding fifteen thousand rupees per month:

Provided that the aforesaid members have to contribute at the rate of 1.16 per cent on salary exceeding fifteen thousand rupees as art additional contribution from and out of the contributions payable by the employees for each month under the provisions of the Act or the rules made thereunder:

Provided further that the fresh option shall be exercised by the member within a period of six months from the I g day of September, 2014:

Provided also that the period specified in the second proviso may, on sufficient cause being shown by the member, be extended by the Regional Provident Fund Commissioner for a further period not exceeding six months:

Provided also that if no option is exercised by the member within such period (including the extended period), it shall be deemed that the member has not opted for contribution over wage ceiling and the contributions to the Pension Fund made over the wage ceiling in respect of the member shall be diverted to the Provident Fund account of the member along with interest as declared under the Employees’ Provident Fund Scheme from time to time,

5. In the principal Scheme in paragraph 12, in sub-paragraph (2), the following proviso shall be inserted. namely:-

“Provided that the members’ monthly pension shall be determined on a pro-rata basis for the pensionable service up to the day of September, 2014 at the maximum pensionable salary of six thousand and live hundred rupees per month and for the period thereafter at the maximum pensionable salary of fifteen thousand rupees per month”.

6, in the principal Scheme, for paragraph 14 the following paragraph shall be substituted, namely.-

“14. Benefits on leaving service before being eligible for monthly member’s pension.- if a member has not rendered the eligible service specified in sub-paragraph t I) of paragraph 12 on the date of exit, or on mining the 58 years of age, whichever is earlier, such member shall be entitled to a withdrawal benefit as laid down in Table ‘V or may opt to receive the Scheme certificate provided on the date he has not attained 58 years of age:

Provided that for calculating such withdrawal benefit, the wages at exit shall be the weighted average of his wages at the end of every wage ceiling period:

Provided further that an existing member shall receive additional return of contributions for his past service under the Employees’ Family Pension Scheme, 1971, computed as withdrawal-cum-retirement benefits as per Table ‘A’ multiplied by the factor given in Table ‘8’ “.

[F.No. S-35012/1/2012-SS-111]

ARUN KUMAR SINHA, Addl. Secy. 

Note: The principal Scheme was published in the Gazette of India. Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 748 (E), dated the 16th November, 1995 and last amended vide notification number G.S.R. 80(E) dated the 14th February, 2013.

————————————-

NOTIFICATION

New Delhi, the 22nd August, 2014

G.S.R. 610 (E). —In exercise of the powers conferred by nation 6C read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following scheme further to amend the Employees’ Deposit-Linked Insurance Scheme,1976, namely:-

1. (l) This Scheme may be called the Employees’ Deposit-Linked Insurance (Amendment) Scheme, 2014.

(2) It shall come into force on and from the l’ day of September, 2014.

2. In the Employees’ Deposit-Linked Insurance Scheme, 1976 (hereinafter referred to as the principal S&me), in  paragraph 7, in sub-paragraph (1), for the words “six thousand five hundred rupees”, the words “fifteen thousand rupees” shall be substituted.

3. In the principal Scheme, in paragraph 22, in sub-paragraph (3),-

(a) in clause (i), for the words “six thousand five hundred rupees”, the words. -fifteen thousand rupees” shall be substituted;

(b) in the Explanation, for the words “rupees six thousand five hundred”, the words “fifteen thousand rupees” shall be substituted.

4. In the principal Scheme, in paragraph 22, after sub-paragraph (3), the following sub-paragraph shall be inserted, namely:-

14) The benefit under this Scheme shall be further increased by twenty percent in addition to the benefits admissible under sub-paragraph (1), (2) or (3) of paragraph 22, as the case may be.”.

[F. No. S-35012/112012-SS.111]

ARUN KUMAR SINHA, Addl. Secy. 

 ———————-

MINISTRY OF LABOUR AND EMPLOYMENT 

NOTIFICATION 

New Delhi, the 19th August, 2014, 

GSA. 593 (E).— In exercise of the powers conferred by section 6A, read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Pension Scheme,1995, namely:-

1. (1) This Scheme may be called the Employees’ Pension (Second Amendment) Scheme, 2014,

(2) It shall come into force on the 1st day of September, 2014.

In the Employees’ Pension Scheme, 1995 (hereinafter referred to as the principal Scheme), in paragraph 12, after sub-paragraph (7), the following sub-paragraph shall be inserted, namely:-

17A) The monthly member’s pension including any relief payable to any existing or future member under this paragraph shall not be less than one thousand rupees for the financial year 2014-15.”.

3. In the principal Scheme, in paragraph 15, for the words, brackets and figures “sub-paragraphs (2) to (5) of paragraph 12, as the case may be,”, the word and figures ” paragraph i 2″ shall be substituted.

4. In the principal Scheme, in paragraph 1b,-

 (a) in sub-paragraph (2), in clause (a), after sub-clause (iv), the following sub-clause shall be inserted. namely:-

“(v) in all the cases, where the monthly widow pension including relief, if any, is less than one thousand rupees per month, the amount of monthly widow pension in such cases shall be enhanced to one thousand rupees per month for the financial year 2014-2015.”;

(b) in sub-paragraph (3), for clause (b), the following clause shall be substituted, namely:-

“(b) Monthly children pension for each child shall be equal to 25 per cent of the amount admissible to the widow of the deceased member as monthly widow pension payable under clause (a) of sub-paragraph (2):

Provided that the minimum monthly children pension including relief, it’ any, for each child of the deceased member shall not be less than two hundred and fifty rupees per month for the financial year 2014-2015.”;

(c) in sub-paragraph (4), for clause (a), the following clause shall be substituted, namely:-

“(a) if the deceased member is not survived by any widow, but is survived by children falling within the definition of family or if the widow pension is not payable, the children shall be entitled to a monthly orphan pension equal to 75 per cent of the amount of the monthly widow pension as payable under clause (a) of sub-paragraph (2):

Provided that the minimum monthly orphan pension including relief, if any, for each orphan shall not be less than seven hundred and fifty rupees per month for the financial year 2014-15.”,

[F. No. 11-15025/312007.SS-11/PUII

Foot Note.- The Employees’ Pension Scheme, 1995 was published in the Gazette of India vide notification number G.S.R. 748(E), dated the 16th November, 1995 and was lastly amended vide notification number G.S.R. 80(E), dated the 11th February, 2013.

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136 Comments

  1. Koushik says:

    Hi, Can someone let me know what should be minimum Basic to be considered out of CTC. Currently we are following 40% on CTC and i understand that basic should be minimum 15000 per month to meet the minimum PF contribution of 1800 (which we followed in previous organisation). Assume candidate CTC is 3.5 lakh and monthly gross is coming to 23319 and HRA is 5000 Gross – HRA = 18319. In the above case, PF contribution should be 1800 per month since the monthly earnings are more than PF ceiling limit 15000…? Your quick response on this is much appreciated.

    IF PF contribution should be 1800 then request you to please share the related notification as well . thank you.

  2. pravinkulthia says:

    Gross per month is 40000, employer capped the same Rs. 15000 for employer contribution (as per act). Suppose he worked for 15 days. What will be the Gross for PF 15000/26*15 or 20000 or 15000??

  3. Shubham Sharma says:

    In my previous organization my basic on 01/09/2014 was 12000 INR and total PF deduction (1440+1440) (Employee + Company) share.
    And on 01/10/2017 my basic increased to 20,000, PF deduction (1800+1800) (Employee + Company) share.
    3600-2800=720 INR total deduction
    Total months from (01/09/2014 – 01/10/2017) = 25 months.
    Total amount= 720×25= 18000 INR
    My previous employer is stating that they have submitted the total amount to EPFO on May 2018, but it is not reflected in our PF passbook till date.
    I want to know following points.
    1. Is it possible to have a special entry of missing amount in passbook.
    2. How can I validate that employer have submitted the amount.
    3. Is there any legal procedure to get this information from EPFO office.

  4. Sambhaji B Patil says:

    Hi ,

    If my Gross salary is 25000/-, how much company should consider my Basic + DA? (I.e. what % of gross salary to consider as basic+DA)

  5. Richie Pal Singh says:

    Can you please tell me that it’s legal or illegal??

    My basic salary is Rs 40,000/- , earlier my current employer deducts 12% of 40,000( Rs4800) as PF but now they have reduced as 12% of 15000 (Rs1800/-) even though my basic salary is 40,000.

    Is this a part of Provident fund deduction policy ?

  6. Vasudev Phutane says:

    I am surprised about difference between Atal Pension Scheme & EPF Pension Scheme.
    In Atal pension scheme we have received pension whole life after contribution & after death scheme
    refunded contributed amount with interest but in epf scheme it does not refund any contributed amount after death of member.Why epf can’t give contributed amount after death to nominee.

  7. SELVAM says:

    Dear Sir,

    Now i am claiming PF amount my past employer, i was working 3 year from that company. not complete 5 year it will come the total amount around 75000.00 it will go to above 30000.00 now tds will applicable for the claiming amount. now my question is, in this 10% of the tds amount can i claim in income tax. if its possible to claim.how can i show the pf amount its a income or others. i have complete query on that. please explain on this thank you by selvam. G

  8. vijay singh Rawat says:

    Iam a member of epf but now i want not to deduct any amount.Please guide in tis respect.

    VIJAY SINGH RAWAT RISHIKESH

  9. S Ramya says:

    Dear Sir,

    Para for ref as in notification dated 29.08.2014 (8th Point)

    AS EPS will henceforth apply only to EPF member whose pay at the time of becoming PF member is not more than Rs.15,000/-per month on after 01.09.2014 the entrie employer and employee contribution shall remain in the provident fund and no deversion to EPS shall be made for all new PF member on or after 01.09.2014 having salary more than 15,000/-at the time of joining. This must be ensured as any negligence on this issue may lead to unwarranted litigations.

    According TO this Para: 1)Who is a new EPF member?
    2)Is the new EPF member is one who has fresh
    graduate joining to a new empyoment or It includes the
    person who is working previously in other company and
    have changed the job?
    3) If So then what will be the effect of the amount of
    EPS deducted till now in previous Company?

  10. Vijendra Singh says:

    Sir
    Kindly let me know the calculation / formula of PF pension for the increased limit of Rs.15000/-. Whether the same formulae of 6500/- i.e. number of years of services x 6500 (now 15000) divided by 70 will be applicable or different.
    Vijendra

  11. B.G.Ashoka says:

    Please re-name “EMPLOYEES PENSION SCHEME -1995″ as ” EMPLOYEES TENSION SCHEME-1995″ No employees want this useless scheme
    Thanking you,
    Yours faithfully,

  12. B.G.Ashoka says:

    I am ashame of the pension I am receiving. Please S C R A P this bleady EPF-1995 pension Scheme dispurse the subscription recovered from the employees along with bank interest. SANDYA SURAKSHA SCHEME PENSION is better than this One of the worst scheme is EPF-1995 THIS IS 8TH WONDER OF THE WORLD

  13. dhanasekaran says:

    My CTC salary is 14500 rs per month.how much amount will be deduct pf amount as per new roule.i request please give the detail for me

  14. moorthy says:

    please help me
    if my basic salary above 15000 as per rule pf deducted r note
    and then employer only decided this case deducted r non deducted help me

  15. visagan s says:

    Sir,

    i have a query about pf contribution.

    1. if an employee earning gross wages 15500/-, the pf deduction will attract the same or not.

    2. ‘existing employee’ means what ? it will indicates he earned more than Rs.15,000/- or any other things.

    3. there was any notes regarding the above in P.F. Acts, please send me the same for which is very useful for me.

    also if an employee monthly salary fixed by us 15,000/- including hra as 4500/- and we will go to deduct pf for 15000/- or 10,500/-.

    kindly clarify the above & oblige.

    visagan.
    98415 15744
    visagansundar@gmail.com

  16. Naseera.K says:

    Sir, i am working in a central PSU and an active member of EPF since July 2012.Now i am earning(basic+DA)more than Rs15000, but still i want to continue my membership in pension fund and i am ready to contribute the additional 1.16%. What steps i have to take to continue my membership, i could understand that the time for opting this is already lapsed, is there any extended time available?if possible what is the procedure…Kindly let me know….Thanking you…

  17. M.Subrahmanya Sarma says:

    I M.Sbrahmanya Sarma.myself getting P.F.penstion No:p.p.ono.aphyd00049055,received the penstion up tooct-2014 at Rs.758/- per month.on3-11-2014an amount ofRs.868/- credited to my S.B acct with Andhra bank Srinivasapuram,Hydarabad and alsocredited an amount of Rs.12118/- on6-11-2014.I have not received any details about th above amounts as the central government anounced minium penstionof Rs1000/-.and also anounced for caluclatin of penstion wages are anhanced from Rs.6500/- to Rs.15000/- am I elegeble for that are not My S.B acct No:111010011009025.Irequest the officels to informe me to adress given.M.S.Sarma,D.No:3-10-94/1,gokhale nagar,Ramantapur,Hydarabad-500013 and also given my email address sarmams47@gmail.com

  18. Gagan Mittal says:

    I started my first service in July’09. I left first company in June’13 i.e EPF was deducted for 4 years. My basic was 18000/month at time of leaving.

    In new company my basic was 36000/month. Company gave option to me, whether deduct EPF or not. I opted for not. (No EPF deducted from July’13 to June’14). In June’14 I voluntarily asked company to deduct my EPF and now it continuing.
    Please let me know is break of one year (not contributing EPF from July’13 to June’14) will impact any legal/financial or any complication while withdrawal or transfer of EPF.

    Gagan Mittal

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