Respected seniors,
This is Ramu working as DM-HR in manufacturing industry. As per the latest judgment as well as published in the news papers recently that Pension can be contributed more than Rs.15000/-. Accordingly all our employees are approaching us to ascertain the procedure. My queries are that From which date it is to be effected ? Whether we have to pay any additional amount for this ?
Whether we have to give any joint declaration (Employee & Employer )?
Kindly advice me on this issue.
Ramu
From India, Vijayawada
5This is Ramu working as DM-HR in manufacturing industry. As per the latest judgment as well as published in the news papers recently that Pension can be contributed more than Rs.15000/-. Accordingly all our employees are approaching us to ascertain the procedure. My queries are that From which date it is to be effected ? Whether we have to pay any additional amount for this ?
Whether we have to give any joint declaration (Employee & Employer )?
Kindly advice me on this issue.
Ramu
From India, Vijayawada
Dear RAmu Sir,
This is yet to be declared. also, in today's scenario if some one has 2ok as basic then as a employee share 12 % i.e. 2400/- is contribution however, as employers share first pension amount is calculated out of 12 % , 8.33 % of 15k i.e. 1250/- and rest goes in PF i.e. 2400-1250= 1150/-.
Now the point is even if the slab for pension goes up employer has to pay the same amount however less employer share of PF will be deposited because more amount will go to pension fund.
From India, Pune
This is yet to be declared. also, in today's scenario if some one has 2ok as basic then as a employee share 12 % i.e. 2400/- is contribution however, as employers share first pension amount is calculated out of 12 % , 8.33 % of 15k i.e. 1250/- and rest goes in PF i.e. 2400-1250= 1150/-.
Now the point is even if the slab for pension goes up employer has to pay the same amount however less employer share of PF will be deposited because more amount will go to pension fund.
From India, Pune
The PF Act has been amended from 1st Sept. 2014 and the wage ceiling has been revised to Rs. 15,000/- and the EPS'95 has been amended to restrict pension contribution to be 8.33% of the employer share based on max. of Rs. 15000/- i.e. Rs. 1250/- . But with effect from September 1,
2014, wherever the employer and employees have opted to contribute on a salary exceeding INR 6,500/ month, such an employer and employee will have to exercise a fresh option (within 6
months or such an extended period by the authorities) to contribute on a salary exceeding INR 15,000/ month, subject to the condition that such a member would have to contribute the Central Government’s share of contribution at 1.16% on the salary exceeding INR 15,000/ month from his/ her share of contribution. In case of failure, contribution to the EPS will be limited to 8.33% of INR 15,000/ month effective September 1, 2014.
Although there was some report in circulation in whatsup circles that this time limit is relaxed and the contribution could be revised to actual salary even now but there no such change made in the official version of EPS. So till further clarity is obtained the provision will continue to be @ Rs. 1250/-. In case it is further relaxed you may get to know full details including the date of revision
From India, Mumbai
2014, wherever the employer and employees have opted to contribute on a salary exceeding INR 6,500/ month, such an employer and employee will have to exercise a fresh option (within 6
months or such an extended period by the authorities) to contribute on a salary exceeding INR 15,000/ month, subject to the condition that such a member would have to contribute the Central Government’s share of contribution at 1.16% on the salary exceeding INR 15,000/ month from his/ her share of contribution. In case of failure, contribution to the EPS will be limited to 8.33% of INR 15,000/ month effective September 1, 2014.
Although there was some report in circulation in whatsup circles that this time limit is relaxed and the contribution could be revised to actual salary even now but there no such change made in the official version of EPS. So till further clarity is obtained the provision will continue to be @ Rs. 1250/-. In case it is further relaxed you may get to know full details including the date of revision
From India, Mumbai
All responses must be sent through the Labor Consultant/Recruiters to Total Group Nigeria via email: 
Attn: Sir,
Subject: JOB VACANCY NOTIFICATION.
This is to inform you that we have many job opportunities in Total Oil and Gas Nigeria; The Community Relations Officer/Specialist at Total oil and gas yesterday has decided to fill up all the positions with foreign international reputable and experienced applicants with values integrity, trust, diversity and ingenuity as a company to hires full-time employees .
If you are interested, Kindly submit your most recent resume and certificates via e-mail above and salary expected
We are looking forward to your response.
Best Regards
Dr Steven Ahmed
From Nigeria, Lagos
Attn: Sir,
Subject: JOB VACANCY NOTIFICATION.
This is to inform you that we have many job opportunities in Total Oil and Gas Nigeria; The Community Relations Officer/Specialist at Total oil and gas yesterday has decided to fill up all the positions with foreign international reputable and experienced applicants with values integrity, trust, diversity and ingenuity as a company to hires full-time employees .
If you are interested, Kindly submit your most recent resume and certificates via e-mail above and salary expected
We are looking forward to your response.
Best Regards
Dr Steven Ahmed
From Nigeria, Lagos
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PF Pension fund contribution beyond 58 years of age.pdf