Dear All,
This is our first month of PF contribution, and we want to follow restricted PF i.e., a maximum of 1,800 PF contributions.
My Query is:
1. Monthly EPF wages as on joining - One of our employees' Gross is 40k & basic is 20k. Whether we need to mention EPF wages as on joining as 20k or do we need to mention 15k due to restricted PF? As this is his first-time employment, to exclude from EPS, what EPF wages should be mentioned while adding an employee. Please advise.
2. Another employee is already a UAN holder and a member under EPS; his basic salary is 25k. Do we need to mention 25k or 15k as monthly EPF wages as on joining? Please advise.
Thank you.
From India, Mangalore
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This is our first month of PF contribution, and we want to follow restricted PF i.e., a maximum of 1,800 PF contributions.
My Query is:
1. Monthly EPF wages as on joining - One of our employees' Gross is 40k & basic is 20k. Whether we need to mention EPF wages as on joining as 20k or do we need to mention 15k due to restricted PF? As this is his first-time employment, to exclude from EPS, what EPF wages should be mentioned while adding an employee. Please advise.
2. Another employee is already a UAN holder and a member under EPS; his basic salary is 25k. Do we need to mention 25k or 15k as monthly EPF wages as on joining? Please advise.
Thank you.
From India, Mangalore
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Hi,
1. During UAN registration of the first employee (first-time employment), please update his monthly PF wage as on joining to be 20K so that he will be eligible only for EPF and not EPS. In the Monthly contribution (ECR upload), you can show his EPF wages ("employer contribution") as 15000, and his EPF amount will be 1800, with EPS at 0.
2. In the second case, you can show his actual PF wage (25K) while registering the employee since he is already under EPS. You can limit the employer contribution to 15000, with EPF at 1250 and EPS at 550.
Kiran Raj
From India, Mumbai
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41. During UAN registration of the first employee (first-time employment), please update his monthly PF wage as on joining to be 20K so that he will be eligible only for EPF and not EPS. In the Monthly contribution (ECR upload), you can show his EPF wages ("employer contribution") as 15000, and his EPF amount will be 1800, with EPS at 0.
2. In the second case, you can show his actual PF wage (25K) while registering the employee since he is already under EPS. You can limit the employer contribution to 15000, with EPF at 1250 and EPS at 550.
Kiran Raj
From India, Mumbai
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Dear Sir,
Thank you for your valuable advice; we will follow accordingly.
One clarification: How can we know whether an existing UAN holder is under EPS or not? Is there any way to find out? Please advise.
Also, what are the EPF wages to be shown while adding an employee for "existing UAN members without EPS cases"?
Thank you.
From India, Mangalore
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Thank you for your valuable advice; we will follow accordingly.
One clarification: How can we know whether an existing UAN holder is under EPS or not? Is there any way to find out? Please advise.
Also, what are the EPF wages to be shown while adding an employee for "existing UAN members without EPS cases"?
Thank you.
From India, Mangalore
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Hi, If you do not know whether the existing UAN holder is under EPS or not, please ask him to produce his passbook prior to his current employment. If you find that the member is not availing EPS account prior to the current employment, please update his monthly PF wage as on joining to 25K.
From India, Mumbai
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From India, Mumbai
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