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CONTRIBUTION | |||
| 41 | Is it possible for an employee to contribute at a higher rate than 12 % ?
Yes, This is called voluntary contribution. If an employee desires to contribute an amount at a higher rate than 12 % of basic salary then they can do so but it does not become obligatory for the employer to pay anything above than 12 %. A Joint Declaration Form needs to be filled up where the employer and the employee both have to give a declaration as to the rate at which PF would be deducted. |
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| 42 | Is it possible for an employee to contribute at a higher rate than 12 % ?
Yes, This is called voluntary contribution. If an employee desires to contribute an amount at a higher rate than 12 % of basic salary then they can do so but it does not become obligatory for the employer to pay anything above than 12 %. A Joint Declaration Form needs to be filled up where the employer and the employee both have to give a declaration as to the rate at which PF would be deducted. |
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| 43 | What component of wages/salary are used to calculate PF?
The monthly pay shall be the pay as specified under Para 29 of the EPF Scheme, 1952, which covers: • Basic wages (all emoluments paid or payable in cash while on duty or on leave / holiday except Dearness allowance, House rent allowance, overtime allowance, bonus, commission or any other similar allowance payable in respect of employment and any presents made by the employer) • Dearness allowance (all cash payments by whatever name called paid to an employee on account of a rise in the cost of living) • Retaining allowance • Cash value of any food concession |
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| 44 | What component of wages/salary are used to calculate PF?
The monthly pay shall be the pay as specified under Para 29 of the EPF Scheme, 1952, which covers: • Basic wages (all emoluments paid or payable in cash while on duty or on leave / holiday except Dearness allowance, House rent allowance, overtime allowance, bonus, commission or any other similar allowance payable in respect of employment and any presents made by the employer) • Dearness allowance (all cash payments by whatever name called paid to an employee on account of a rise in the cost of living) • Retaining allowance • Cash value of any food concession |
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COVERAGE | |||
| 45 | What is a covered establishment?
Covered establishment is an establishment belonging to the class of industries / other establishments, which has been listed in the schedule appended to the Employees' Provident Fund and Miscellaneous Provisions Act 1952 and where 20 or more persons are employed. |
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| 46 | What is a covered establishment?
Covered establishment is an establishment belonging to the class of industries / other establishments, which has been listed in the schedule appended to the Employees' Provident Fund and Miscellaneous Provisions Act 1952 and where 20 or more persons are employed. |
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| 47 | How many years service is required to be eligible to receive member pension?
Minimum 10 years eligible service will entitle for member pension. |
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| 48 | How many years service is required to be eligible to receive member pension?
Minimum 10 years eligible service will entitle for member pension. |
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| 49 | When does an employee become eligible to become a member of Employees' Provident Fund Scheme, 1952 and Employees' Deposit Linked Insurance Scheme, 1976?
An employee becomes a member of Employees Provident Fund (Employees' Provident Fund) Scheme, 1952 / Employees Deposit Linked Insurance (Employees' Deposit Linked Insurance) Scheme, 1976 immediately on joining an establishment covered under the Employees Provident Funds & Miscellaneous Provision Act, 1952. |
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| 50 | When does an employee become eligible to become a member of Employees' Provident Fund Scheme, 1952 and Employees' Deposit Linked Insurance Scheme, 1976?
An employee becomes a member of Employees Provident Fund (Employees' Provident Fund) Scheme, 1952 / Employees Deposit Linked Insurance (Employees' Deposit Linked Insurance) Scheme, 1976 immediately on joining an establishment covered under the Employees Provident Funds & Miscellaneous Provision Act, 1952. |
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