pf pensioners age is 58 years please clarify.As we entered in the pf software for the employee whose date of birth 22.08.1954 it automatically
shown nil in 8.33% coloumn it gone directly to epf employers contribution
From India, Bangalore
shown nil in 8.33% coloumn it gone directly to epf employers contribution
From India, Bangalore
This is because after 58 years of age if an employee continues in employment, the employer's contribution in respect of him should be put in provident fund alone without dividing it (12%) as 8.33% to Pension Fund and 3.67% in Provident Fund.
For Provident Fund contribution there is no age limit whereas Pension Fund contribution will be accepted only till the employee attains 58 years of age.
Madhu.T.K
From India, Kannur
3891For Provident Fund contribution there is no age limit whereas Pension Fund contribution will be accepted only till the employee attains 58 years of age.
Madhu.T.K
From India, Kannur
Dear Mr. kudayakumarshetty;
As is pensionable age is 58 yrs, so after attending the age of 58 yrs the EPF Member is need not to contribute is Pension Fund as per the EPF & MP Act. Thats why all of the employer contribution (12%) goes to his/her Provident Fund A/c.
Hope you doubt is clear.
From India, Delhi
As is pensionable age is 58 yrs, so after attending the age of 58 yrs the EPF Member is need not to contribute is Pension Fund as per the EPF & MP Act. Thats why all of the employer contribution (12%) goes to his/her Provident Fund A/c.
Hope you doubt is clear.
From India, Delhi
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Circular-Min pension 1000 and limit enhanced to 15000.pdf