EPFO Reiterates Guidelines Regulating EPS Entitlement Of Members Having Multiple Account Numbers

The Employees’ Provident Fund Organisation (EPFO) has vide letter dated January 29^th, 2024 bearing No.: e-597452/4406 reiterated the guidelines issued by it vide a circular dated November 30^th, 1998. In the event that an EPS member possesses multiple account numbers for concurrent employment, simultaneously in two or more establishments, it is essential to take note of the following procedure:

1. Pension from each establishment has to be worked out at the date of exit on actual basis;
2. Pension payable from all establishments shall be aggregated provided that aggregate of pensionable salaries at any point of time shall not exceed wage ceiling, and as and when it exceeds wage ceiling, the contribution received on such excess salary shall be diverted to the PF account;
3. The minimum pension criteria will be applied to the aggregated pension i.e., only on the total pension amount.
4. When a member of EPS on account of his joining being not more than the wage ceiling of INR 15,000/-, upon his joining another establishment without exiting from the first establishment, the RO where other establishment is covered shall be responsible to ensure that the total contribution into EPS shall not exceed contribution payable on wage ceiling of INR 15,000/-. Further, from September 1^st, 2014, it shall be ensured that if the wages in a single establishment exceeds INR 15,000/- or aggregate of wages at the time of joining exceeds INR 15,000/- in multiple establishments (concurrently and simultaneously), the full 24% PF contribution shall be retained in the Provident Fund account only, as in such cases, the member shall not be eligible for membership of EPS, 1995.