Instructing-for-regulating-joint-request-under-para-26(6)-of-EPF-Scheme-1952-Karma-Global

Instructing for regulating joint request under para 26(6) of EPF Scheme 1952

 

Contents News/Article Date: 2nd June 2023

Relating to which Act: The Employees Provident Funds & Miscellaneous Provisions Act, 1952; The Employees’ State Insurance (ESI) Act, 1948          

Penalty under the Act: Whoever, for the purpose of avoiding any payment to be made by himself under this Act [the Scheme, the [Pension] Scheme] or the Insurance Scheme] or of enabling any other person to avoid such payment knowingly makes or causes to be made any false statement or false representation shall be punishable with imprisonment for a term which may extend to one year, or with fine of five thousand rupees, or with both].

Applicable to which State: All the States and Establishments to be covered by these Acts 

Type: EPFO HO, Ministry of Labour & Employment, Circular No. WSU/2023/19/Para 26(6) – E 108547 dated 2/6/2023 issued by V Ranganath – ACC (WSU) 

Pertains to: PF registered establishments and members

Relevance of this news: Karma Global is in the business of HR Services, Payroll, Outsourcing and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.

Karma Global has set up its offices in UK, USA, UAE, Canada and South East Asia and is fully into providing solutions for workplace issues, employment law advice, immigration and negotiation, representation in employment tribunals and involvement in leading cases, addressing HR issues in line with Labour Laws, payroll, staffing and talent acquisition.

And in the current instance: 1. Paragraph 26 (6) of the Employees’ Provident Funds Scheme, 1952 (“Scheme”, hereafter), provides for the enrolment of an employee as a member of the Scheme whose monthly pay is more than the statutory wage ceiling (presently Rs. 15,000/- per month), i.e. who is excluded from the mandatory membership of the Scheme. The paragraph also enables a member of the Scheme to contribute on actual (higher) pay in a specified manner.

  1. Joint requests under Paragraph 26 (6) will henceforth be made and allowed as follows:
  2. Any employee who intends to become a member of the Scheme and contribute to it on actual (higher) pay exceeding the statutory limit (presently Rs. 15,000/- p.m.) shall submit a joint request with his employer in the attached pro forma application.
  3. The said joint request will be made through the employer to the jurisdictional Regional Office.
  4. The employer shall, further, undertake in the attached pro forma application to pay the administrative charges as payable on actual (higher) pay and to comply with all statutory provisions in respect of such employee.

Subject: Instructing for regulating joint request under para 26(6) of EPF Scheme 1952

 

Attached is the notification

 

Instructing-for-regulating-joint-request-under-para-26(6)-of-EPF-Scheme-1952-Karma-Global

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