New EPF Rules 2021 | Latest Amendments

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• Is there any sealing of Rs.15000/month salary to be entitled for EPF?

• Is there any sealing limit of Rs.6000/month irrespective of amount calculated w.r.t Basic+DA?

• Sir what's eligibility to withdraw EPS

  • Dear Chandan,
    Below are the options for EPS withdrawals ;

    If you have worked for less than 10 years and have been unemployed for more than 2 months then you can withdraw entire EPS balance (through Form 10c) along with EPF balance (Form 19).
    If you have worked for more than 10 years then you can not withdraw full EPS balance. You can apply for Pension which starts either at 50 (early pension) or 58 years of your age.
    In case, you resign from a job and join a new employer who does not offer EPF scheme then you can either withdraw EPS balance (if service history is less than 10 years) or apply for Scheme Certificate from EPFO.
    You can submit this certificate when you join an EPF-covered organisation in future. If you do so, your service history gets carried forward.
    If you don’t join an organisation and reach 50 or 58 years of age, you can submit these certificates (if employed with multiple employers) to the EPF field office under whose jurisdiction your last employer was covered and apply (Form 10D) for monthly pension.
    In case, you resign from your current job and join a new organization where EPF scheme is offered, you can just submit Form-11 form to your new employer. Under this scenario, your EPF and EPS get transferred.

    You may go through this article : What happens to EPS on Transfer of EPF account (or) when you switch Jobs?

• Employee who joins as a fresh PF member on or after 1-Sep-2014 and the basic is above Rs.15000/- he or she cannot opt for EPS scheme. Is there any change in this scheme? If yes can share change please. If no the employee resigns from the present organization and joins another organization where the employee basic is less than Rs.15000/- or restricted PF of Rs.1800/- per month will the employee can become a Pension member?

  • Dear Chandrasekaran,
    There is no change with respect to EPS elgibility criterion.
    New EPF members enrolled on or after September 1, 2014, and having a salary of more than INR 15,000 month at the time of joining, will not become members of the EPS. Accordingly, the entire contribution of 24% (from the employee and employer) will go to the provident fund account of the employee.

    I belive - if an employee at the time of joining the EPF scheme had a basic salary exceeding Rs 15,000 per month, then they cannot join the EPS at a later point too.

    " So, if your salary is more than ₹15,000 per month, you will have to make an additional voluntary contribution to the EPS to get a higher pension". 11th july 2023 was the deadline.

• Dear Sir,
  I have school running. What are criteria for PF registration like number of employees and their salaries. How much PF deduction from Employee salary and Employer Contribution and what are due date of deduction and submission of payment in PF Funds. Kindly guide me please ...thanks

  • Dear Sanjay,
    Request you to kindly engage a Chartered Accountant in this regard.

    Organizations with 20 or more employees are required by law to register for the EPF scheme, while those with fewer than 20 employees can also register voluntarily.

• Dear Srikant,

  Can you please inform me that
  1) What are the components on which EPF will be calculate?
  2) Basic wages = Minimum Wages or not,
  3) Rs 9804 is the current MW for west Bengal then what will be the minimum basic?

  Samrat Chakraborty

• incase a married male person died mother, father is also eligible for EDLI

  • Dear sankaramma,
    You may kindly go through this detailed article - How to make EPF Death Claim by Nominee of a Subscriber? | EPF/EPS/EDLI Scheme Benefits

• what is the contribution of epf if 12% from employee and 12% from employer if 12% contribution is Rs.1153?

• in case a person leave the job for 12 months, can he claim the complete EPF? that is Employer and Employee contribution both?

  • Dear Kamal,
    An EPF subscriber who is unemployed for 2 months or not contributing to EPF for more than 2 months, can withdraw full PF.

    Read : Tax Implications of EPF, PPF & NPS Withdrawals (Full / Partial) & Maturity proceeds

• Dear Srikanth ..I saw a comment from you that APY is not available to NRIs. I think that is wrong. The fact is , APY is not available to non citizens of India. NRIs still continue to be citizens till they surrender their citizenship which middle east NRIs do not do. Hence the question asked was can APY payments be deducted from an NRE account or NRO account , since NRIs are not permitted to open Resident SB account ?

  • Dear Safin,
    Thank you so much for highlighting this point!

    I stand corrected.

    "Yes, NRI in the age group 18-40 years of age having a bank account with APY POP is eligible to open APY account."

    After opening of APY account, what will happen if a subscriber becomes non-citizen of the country?

    The scheme is open to the Indian citizens only. Hence, in that event the APY account will be closed and the net actual interest earned on his contributions (after deducting the account maintenance charges) will be refunded, whereas, the Government co-contribution, and the interest earned on the Government co-contribution, shall not be returned to such subscribers.

    • Thanks Sreekanth.