Recent changes in EPF
EPF Rules Changed from Sept. 1, 2014.
- EPF compulsory contribution now mandatory for all whose salary is below Rs 15000 per month. (Earlier limit was Rs 6500 per month).
- EPF monthly contribution of Employer now fixed at 8.33% of Rs 15000 = Rs 1250, irrespective of how much lesser than Rs 15000 you are paid.
- Minimum Monthly Pension now is Rs 1000 per month.
- Earlier EPS membership compulsory Insurance coverage now increased from 156,000 now is Rs 300,000.
Lesser take home, compulsory investment towards EPF for future benefits is in force!