Provident Fund Ceiling Limit Enhanced
The Ministry of Labour & Employment has issued a Notification by which the contribution ceiling limit has been increased to INR 15,000 from INR 6,500 in respect of the schemes framed under the Employee’s Provident Fund & Miscellaneous Provisions Act, 1952. The Notification takes effect from September 01, 2014.
Also the pension payable in terms of the Employee’s Pension Scheme, 1995 has been revised to a minimum of INR 1,000.