New Delhi: The recent changes in the rules are important for employees covered by the Employees’ Pension Scheme (EPS). Eligible employees with a basic salary of up to ₹25,000 are now covered by the EPS. Therefore, if an employer is not making the required EPS contribution, the employee can complain. Under the new EPFO rules, the salary threshold for mandatory coverage has been raised from ₹15,000 to ₹25,000 per month. This has increased EPF, EPS, and EDLI coverage for eligible employees earning between ₹15,000 and ₹25,000. However, individual employee eligibility will depend on their salary, membership, and applicable rules.
According to the new rules, employers are also required to make applicable EPS contributions for eligible employees earning ₹25,000 or less. Employees should periodically check their PF passbooks and contribution information.
What to do if company is not depositing money?
If an employee is eligible but the employer is not making the required EPS contribution, the first step is to inquire with the company’s HR or relevant department. The EPFO also advises employees to raise such concerns with their employers first.
If the issue remains unresolved after complaining to the company, the employee can file a complaint online on the EPFiGMS portal. PF members can register complaints using their UAN on this portal and can also check their status later.
Documents needed to file a complaint?
When filing a complaint online, it’s helpful to have your UAN, PF account information, and relevant documents ready. Once a complaint is filed with EPFiGMS, you receive a registration number that can be used to track the status of your complaint.
If EPS contributions have been incorrectly deducted or missed, the employer should contact the EPFO to have them corrected, as per EPFO guidelines. Incorrect contributions can lead to problems later on when filing pension or other claims.
What does the ₹25,000 limit mean?
It is important to understand that the increase in the limit to ₹25,000 does not mean that every employee’s pension will automatically be determined based on a salary of ₹25,000. The EPFO coverage limit and the EPS pension calculation rules apply under different provisions. Therefore, employees should check their membership and contribution records.
The rules say that ir order to be eligible for EPS, an employee must be registered members of the Employees’ Provident Fund Organisation and must have completed at least 10 years of service.
