EPFO Circular on Basic Salary 15000 Ceiling Limit

If you are looking for EPF wages ceiling notification of 15000 Rs then here you can download it, maybe it is a very old notification but sometimes we need to have a copy of EPFO circular. Before September 2014 the eligible basic wage to became a part of EPF is 6500 Rs, but after 1 September 2014, the eligible basic wage limit increased from 6500 to 15000 Rs. The increased ceiling limit notification of EPF wages was released on 29 August 2014 and became effective from 1 September 2014.

EPFO Circular on Basic Salary 15000 Ceiling Limit

Download EPFO Circular on Basic Salary 15000

As per the above notification, every employee whose monthly basic salary + DA is less than or equal to 15000 Rs will become eligible for employee provident fund scheme. When an employee becomes a member of the employee provident fund scheme then he/she will become a part of the employee pension scheme also. Every employee will contribute 12% of their basic wage and employer will also contribute another 12% of employee basic wage towards EPF account of the member.

Basic wage definition as per EPF act 1952

“Basic wages” means all emoluments which are earned by an employee while on duty or on leave or on holidays with wages in either
case in accordance with the terms of the contract of employment and which are paid or payable in cash to him, but does not include-
(i) The cash value of any food concession;
(ii) Any dearness allowance, that is to say, all cash payments by whatever name called paid to an employee on account of a rise in the
cost of living, house-rent allowance, overtime allowance, bonus, commission or any other similar allowance payable to the employee in
respect of his employment or of work done in such employment;
(iii) Any presents made by the employer

Here is the details of EPF Contribution as on 2019

All the below percentages will be calculated on the basic wage of the employee.

Employee contribution: 12%

Employer contribution

Toward PF account of employee: 3.67%

Towards pension account of employee: 8.33%

PF admin charges: 0.50%

EDLI (Employee Deposit Linked Insurance Charges): 0.01%

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