Dear Friends,
One of our employee has attained the age of 58 on 15.12.24 (DOB 15.12.1966). We want to keep him continuing his job and he is also willing to work. Now my question is:
1. Can we fully stop his PF contribution after 15.12.24 and still keep him on the salary sheet for the Dec’24 month and onwards or a separate sheet has to be made after 15.12.24 (two sheets one before retirement and one after)
2. The pension fund for the month of Dec’24 has to be calculated till 14.12.24 or 15.12.24.
3. Is it mandatory to keep deducting PF if an employee is continuing his job after 58 yrs or we can stop it and still show in our salary sheet since he has attained the retirement age. I know that the EPS contribution will cease and 12% will be fully contributed to PF.
Thanks.
Kirti Bisht
From India, undefined
One of our employee has attained the age of 58 on 15.12.24 (DOB 15.12.1966). We want to keep him continuing his job and he is also willing to work. Now my question is:
1. Can we fully stop his PF contribution after 15.12.24 and still keep him on the salary sheet for the Dec’24 month and onwards or a separate sheet has to be made after 15.12.24 (two sheets one before retirement and one after)
2. The pension fund for the month of Dec’24 has to be calculated till 14.12.24 or 15.12.24.
3. Is it mandatory to keep deducting PF if an employee is continuing his job after 58 yrs or we can stop it and still show in our salary sheet since he has attained the retirement age. I know that the EPS contribution will cease and 12% will be fully contributed to PF.
Thanks.
Kirti Bisht
From India, undefined
You should stop Pension Fund contribution from 15th December. That is, for this month contribution will be for 14 days, from 1st till 14th. If you keep in service, you can either stop PF contribution from 15th December OR shall contribute employer share of 12% fully to PF. For this month you should have separate treatment, ie, upto 14th, with Pension Fund contribution and from 15th without Pension Fund.
You can also exclude this employee from EPF because he can be declared as an excluded employee. An employee getting pension from EPFO, and a person who has withdrawn his PF accumulation on retirement at the age of 55 years shall be an excluded employee. There is nothing which stops from giving coverage but it is not mandatory. If given PF coverage, the employer contribution should be fully made only to PF without bifurcating it as 8.33% to Pension and the rest to PF.
From India, Kannur
4293You can also exclude this employee from EPF because he can be declared as an excluded employee. An employee getting pension from EPFO, and a person who has withdrawn his PF accumulation on retirement at the age of 55 years shall be an excluded employee. There is nothing which stops from giving coverage but it is not mandatory. If given PF coverage, the employer contribution should be fully made only to PF without bifurcating it as 8.33% to Pension and the rest to PF.
From India, Kannur
Any EPF member stands EPF covered employee till he get salary no matter of age , but after 58 year super annuaion full amount of boath the epf shares empyee and employer wil be depisted a/c no 1 and 2 and pension fund will nill( 0).
The member can not be treated excluded employee till hi finally withdraw his EPF balance and Marked EPF EXIT with date
From India, Chandigarh
The member can not be treated excluded employee till hi finally withdraw his EPF balance and Marked EPF EXIT with date
From India, Chandigarh
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf