EMPLOYEES PROVIDENT FUND ORGANISATION MINISTRY OF LABOUR AND EMPLOYMENT, GOVERNMENT OF INDIA, DELHI Ref. No. LC(637)2009/Vol.I/203- Dated: 27.05.2014 Subject: Filing of Review Petition against judgement of Hon’ble Supreme Court of India in SIP No. 1205/2009 in the matter of Marathwada Gramin Bank Employees Union Vs. Management of Marathwada Gramin Bank – regarding. Reference: This office letter No. LC-2(637)2009/MH/12780 dated 08.10.2013 Please refer to the above Cited letter wherein views on the issue of filing Review Petition/implementation of the order dated 09.09.2011 of the Hon’ble Supreme Court of India in SLP No. 1205/2009 in the matter of Marathwada Gramin Bank Karamchari Sangathan & Ors. Vs. Management of Marathwada Gramin Bank, were called for. 2. The views expressed by the Zonal Addl. Central Provident Fund Commissioners as to whether review petition need to be filed or not has been examined at Head Office. Having analysing the pros and cons of the issue, Competent Authority felt that there is no point in going for review against the said judgement of Hon’ble Supreme Court of India. 3. All the Regional Provident Fund Commissioners-In-charge of Regional /Sub-Regional Offices are, therefore, directed not to force employers to contribute over and above the statutory wage ceiling in respect of their employees. However, option is available for the employees to contribute beyond the statutory wage ceiling if they so desire subject to the conditions enumerated under para 26(6) of the Employees’ Provident Funds Scheme, 1952. Yours faithfully, (P.K.UDGATA) Addl. Central Provident Fund Commissioner (Compliance) Tei.: 011-26172672
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From: Pravesh
To: undisclosed-recipients:; Subject: PF Contribution Capped at Rs.6500 Date: Mon, 02 Jun 2014 13:13:16 IST
Dear All, The Provident Fund Office has allowed companies to cap their monthly Provident Fund contribution to employees at Rs. 6,500. At present, companies contribute an amount equal to at least 12 per cent of an employee’s basicsalary towards his/her PF. Now, when an employer deducts and deposits Employees’ PF contributions upon more than the prescribed salary, it can be reduced to Rs. 6,500 per month and in that event, section 12 of the Employees’ Provident Funds & Miscellaneous Provisions Act providing bar for not reducing wages will not be attracted unless the terms of the employment specifically provide so. The full text of the circular is enclosed. Hope you find the update useful. Note: The above update is just for reference. User discretion and professional assistance is highly recommended before acting on the above.
Warm Regards, CA. Pravesh Kumar M Pravesh Kumar & Associates| Chartered Accountants Office: +91 44 25380059 | Mobile : +91 -9840323522 Email : [email protected] Regd Office: #37, Kasi Chetty Street, Manish Market, Second Floor, Chennai 600 079. Admin Office: # 5, Sambayar Street, Second Floor, George Town, Chennai - 600 001. http://praveshkumarassociates.icai.org.in Please consider the environmental impact before printing mails. The information transmitted, including any attachments, is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited, and all liability arising therefrom is disclaimed. If you received this in error, please contact the sender and delete the material from any computer.
6/2/2014 4:37 PM
