EPF mandatory
Headlines 11:36
IMPHAL, June 25: The Employees’ Provident Fund Organisation (EPFO) has today issued a press release informing the employers of Manipur to note the following points: ‘if you are employing 20 or more employees who may be casual, daily rated or on contract etc, contact nearest EPFO immediately. Non-payment of PF dues is punishable with imprisonment up to one year.
It said that the EPF & MP Act 1952 applies with its own force and the employer is not allowed to wait for a notice from the Commissioner.
The application of the Act does not depend upon the will of the employer of the employee and is mandatory in the establishments where the Act applies, it said.
Employers should deduct 12% from the employee’s salary subject to a maximum limit of Rs 6500 (at present) and contribute a matching amount, it said.
On payment of dues, the money can be recovered by the recovery officer of EPFO by attachment and sale of movable and immovable property of the establishment and the employer, the statement continued.
The EPF & MP Act gives the employee the triple benefit of Provident Fund, Pension and Insurance, it said before adding that an employee who has contributed ten years which may be in one or more than one establishment combined together will get pension from EPFO after attaining 58 years of age, the statement said.
In case of death of an employee under the Act, pension is given to widow for lifelong and two children at a time up to 25 years of age, it said.
The formula for calculating pension after 16/11/95 is Pension = pensionable salary multiplies pensionable service and divided by 70, the statement said.
“Employees can see their PF statement online by registering at members portal (download your e-passbook) in our website www.epfindia.gov.in . Employee can register their grievance/complain at EPFICMS (register your grievance) facility provided by the EPF website”, it said.
It said that the EPF & MP Act 1952 applies with its own force and the employer is not allowed to wait for a notice from the Commissioner.
The application of the Act does not depend upon the will of the employer of the employee and is mandatory in the establishments where the Act applies, it said.
Employers should deduct 12% from the employee’s salary subject to a maximum limit of Rs 6500 (at present) and contribute a matching amount, it said.
On payment of dues, the money can be recovered by the recovery officer of EPFO by attachment and sale of movable and immovable property of the establishment and the employer, the statement continued.
The EPF & MP Act gives the employee the triple benefit of Provident Fund, Pension and Insurance, it said before adding that an employee who has contributed ten years which may be in one or more than one establishment combined together will get pension from EPFO after attaining 58 years of age, the statement said.
In case of death of an employee under the Act, pension is given to widow for lifelong and two children at a time up to 25 years of age, it said.
The formula for calculating pension after 16/11/95 is Pension = pensionable salary multiplies pensionable service and divided by 70, the statement said.
“Employees can see their PF statement online by registering at members portal (download your e-passbook) in our website www.epfindia.gov.in . Employee can register their grievance/complain at EPFICMS (register your grievance) facility provided by the EPF website”, it said.
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