Dear Sirs
Requesting your guidance please on EPFO joint option for higher pension calculation.
My salary is Rs. 45000.
My employer paying 12.00% employer contribution to EPFO as per ceiling i.e. Rs. 15000.
Now the 1.16% came into picture to avail higher pension.
Here my doubt is : For the ceiling limit of Rs. 15000 - 8.33% to be paid.
For additional contribution over and above Rs. 15000 mean - does the percentage @ 1.16% or @ 9.49% on Rs. 30000.
And is this calculation goes since from joining job or from 01st September 2014.
Requesting your guidance please.
CAclubindia
