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Investment Simplified > EPF > EPF Wages
EPF

EPF Wages

Monika Mohan
Monika Mohan May 12, 2022 4 Min Read
Updated 2022/11/17 at 10:53 AM
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Nowadays, a very common query is circulating among the members of EPFO – “what is EPF Wage?”. So, what exactly do we mean by EPF wages? Simply said, EPF wage is more of a layman’s term for EPF contribution by employee and employer which is double the employee’s contribution (12% or 10%). Therefore, to understand what is EPF wage, you just need to understand EPF contribution.

Contents
EPF Wages and EPS WagesEPF Wages in PassbookEPF Wage CeilingFAQ

EPF Wages and EPS Wages

Under the Employee’s Provident Scheme by the EPFO, there is a sub-section of EPS or Employee’s Pension Scheme as well. Employee’s contribution goes to the EPF scheme only but the employer’s contribution goes partly to EPF and partly to EPS (8.33% of total employer’s contribution).

Refer the table below to understand the difference between EPF wages and EPS wages:

ParticularsEPFEPS
Employee’s Contribution12% or 10%–
Employer’s Contribution3.67%8.33%

EPF Wages in Passbook

Employees can check their EPF contribution in their EPF passbook, i.e. employer and employee contribution for each month. This passbook is a statement which contains detailed classification of EPF contribution, commonly known as EPF wages. PF passbook can be obtained online from the EPFO website or using the Umang mobile app.

EPF Wage Ceiling

As per EPFO, EPF contribution of 10% or 12% is based on the maximum wage ceiling of Rs. 15,000. This means that employee will contribution 12% of maximum Rs. 15,000 of wage and likewise, employer will match this amount to be credited in the PF account of the employee. That said, it is being proposed to increase this ceiling – maximum wage ceiling of Rs 21,000.

Look at the data tabulated below to understand how EPF wage ceiling has been increased since the commencement of the EPF scheme, 1952:

PeriodEPF Wages per month
01.11.1952 to 31.05.1957Rs. 300
01.06.1957 to 30.12.1962Rs. 500
31.12.1962 to 10.12.1976Rs. 1,000
11.12.1976 to 31.08.1985Rs. 1,600
01.09.1985 to 31.10.1990Rs. 2,500
01.11.1990 to 30.09.1994Rs. 3,500
01.10.1994 to 31.05.2001Rs. 5,000
01.06.2001 to 31.08.2014Rs. 6,500
Read more about EPF:
EPF Balance Check EPF Correction Form EPF Passbook
EPF Calculator EPF Interest Rate EPF Pension
EPF Contribution EPF Online Claim EPF Premature Withdrawal
Read more about UAN:
UAN UAN Activation
Read more about EPFO:
EPFO E-Sewa EPFO Online Payment EPFO KYC Online Update
EPFO Establishment EPFO Member Portal EPFO Registration Process
Read more about EPF Forms:
EPF Form 10C EPF Form 19 EPF Withdrawal Form 31

FAQ

Is DA included when calculating EPF wages?

Yes. EPF wages or simply EPF contribution is calculated on the employer’s basic salary + DA.

What are basic wages under EPF Act 1952?

As per the EPF Act 1952, basic wages mean – all remunerations are earned by an employee while in service which are paid or payable in cash to him. It does NOT include food allowances (concessions), HRA, overtime allowance, DA, bonus, gifts by employer.

Are EPF Wages and basic wages the same things?

No. EPF wages are basically the contribution made to the employee’s EPF account. Whereas, basic wages are the remuneration earned by the employee for their work and is paid by the employer.

Are basic wage and basic salary the same things when calculating EPF contribution?

No. Basic salary is the amount on which EPF contribution is calculated and it includes the dearness allowance (DA). Basic wages do not include DA.

Is EDLI contribution added in EPF wages?

A part of the employer’s contribution to their employee’s PF account is directed to EDLI, i.e. 0.5%. So yes, EDLI can be taken as a part of EPF wages.

What does EDLI wages mean in EPF?

A part of the employer’s contribution (0.5%) goes to the insurance cover provided under the EPF scheme. This scheme is called as EDLI (Employee’s Deposit Linked Insurance). So technically, there is no term like EDLI wages. It can simply mean the contribution done towards the EDLI scheme.

What is the difference between EPF and EPS?

EPS is a scheme to provide pension to the employees enrolled under the EPF scheme of the EPFO. Where EPF is the umbrella scheme, EPS is a part of it.

What is the full form of EPS?

EPS full form: Employee Pension Scheme.

Who contributes towards the EPS?

Employer contributes to the EPS fund of the employee. This is 8.33% of the total EPF contribution made by the employer into their employee’s EPF account.  

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Posted by Monika Mohan
Monika Mohan is a writing enthusiast who has luckily turned her passion into profession. For the greens, she has an established foot in the personal finance sector and likes to put forth complex topics in an easy-to-understand manner, minus the jargons. Outside the penny lane, it’s all about poetry, mountains and single-malts.
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