dear sir/madam
my self haresh an i working with last 3 years as a Hr Executive , our company workers 15 only in last year but this year 40 employees new join so our company has started PF & ESIC from all employees but 1 query our company old employees crossing the age of 58 years, so please tell me can i given to him PF Or ESIC facilities
From India, Mumbai
my self haresh an i working with last 3 years as a Hr Executive , our company workers 15 only in last year but this year 40 employees new join so our company has started PF & ESIC from all employees but 1 query our company old employees crossing the age of 58 years, so please tell me can i given to him PF Or ESIC facilities
From India, Mumbai
632
Once employee is covered under EPF then there is no option for exemption even he/she crossing the age of 58 years but you can exclude from EPS.
Even for EPS now there is provision as you can exclude at the age of 58 years or 60 years. If he/she is covered till the age of 60 years then he/she will get more pension benefits
How ever he is covered under EPF till he/she retires. In this case if you exclude both 12% of EE 7 12% of ER = 24% shall be accounted to EPF only & no EPS
From India, Bangalore
Even for EPS now there is provision as you can exclude at the age of 58 years or 60 years. If he/she is covered till the age of 60 years then he/she will get more pension benefits
How ever he is covered under EPF till he/she retires. In this case if you exclude both 12% of EE 7 12% of ER = 24% shall be accounted to EPF only & no EPS
From India, Bangalore
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