Rajesh Dalmia Hey Rajesh,,,,, its certainly nice of you to keep yourself abreast on the recent happenings around... and sensitising us on this...... As of now the limit is Rs. 6500/- however a bill is raised to extent it to Rs. 7500/- in the parliament, which is not yet approved. This i got clarrified from my close friend in RPFO. Kind Regards, Jagdish
From India, Mumbai
1From India, Mumbai
Here is the link to the article, that has the reference to the EPF limit. Wage ceiling for Employees Provident Fund may go- Finance-Economy-News-The Economic Times
From India, Calcutta
From India, Calcutta
Hi, Official notification has not been received about the hike. As of now, for PF ceiling, (Basic+DA) continues to be at Rs.6500/- only. Chandru Chennai
From India, Madras
From India, Madras
EMPLOYER CONTRIBUTION TO PF IS TOTAL OF 12% SPLITTED INTO 8.33% FOR FAMILY PENSION SCHEME AND BALANCE TO EMPLOYEES PROVIDEND FUND. THE CEILING AMOUNT OF FPS CONTRIBUTION IS 541(6500*8.33%=541) THE CALCULATION SPECIMEN IS HEREUNDER: WAGES RS.5000 EMPLOYER CONTRIBUTION TO FPS =417 (5000*8.33% - ROUNDED TO NEAREST RUPEE) EMPLOYER CONTRIBUTION TO EPF = 183 (5000*12% =600 LESS FPS CONTRIBUTION 417) WAGES RS.6500 EMPLOYER CONTRIBUTION TO FPS =541 (6500*8.33% - ROUNDED TO NEAREST RUPEE) EMPLOYER CONTRIBUTION TO EPF = 239 (6500*12% =780 LESS FPS CONTRIBUTION 541)
From India, Madras
From India, Madras
No, i think its still 6500/- only. If it increases then we would get some message from PF Department. As such we didnt get any message from them as of now. Thanks, KP
From India, Hyderabad
From India, Hyderabad
It not increased to Rs.7,500/-. Till date it only Rs6,500/- only but EPFO in planning to increase the ceiling up to Rs.7,500/-.
From India, Madras
From India, Madras
Hi Dalmia, This may clear your doubt. With the aim of widening the base of those eligible for provident fund from the current four crore-odd subscribers, the government is mulling doing away completely with the employee wage ceiling of Rs 7,500 per month. At present, employees with salary of Rs 7,500 are covered under the Employees Provident Fund and Miscellaneous Provisions Act. EPFO commissioner A Vishwanathan told ET, “The proposal may come up for discussion in the next board meeting.” The implementation of this proposal may require an amendment to the Employees Provident Fund and Miscellaneous Provisions Act. While eligibility for the Employees State Insurance Act is now already set at Rs 10,000 per month from the earlier Rs 7,500 per month, recent amendments to the Payment of Bonus Act has also facilitated a rise in the eligibility limit for bonus payment from Rs 3,500 per month to Rs 10,000 per month. Regs, Nithya P Corporate HR
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Epf SC-judgment-eps exceeding cealing limit.pdf