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Released Date: 31st May, 2017

Central

Clarification On Allowing EPS Members Benefit Of Actual Salary In The Fund

As per EPFO circular dated 31st may 2017, the EPFO has clarified that the benefit of full coverage on wages is only applicable for the accounts maintained by EPFO for which remittances have been made for the salary above the applicable wage ceiling limit. Employees who are part of exempted establishments also will get benefit of actual wages provided they have contributed on actual wages to the EPF Trust. The final decision regarding the benefits to be given to those employees is pending before the CBT (Central Board of Trustees) as EPFO feels that account adjustments for the difference in contribution from the trust and EPFO is practically impossible. In the interim, it is advised that no member of the EPS, 1995 whose contribution on full salary has not been received in the account of the EPFO at the respective periods of the contribution, shall be eligible for the benefits contemplated in the judgment as per Hon'ble Supreme Court Order

Effective Date: 31st May, 2017

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