Notification Of Statutory wage ceilling

[Former Member]

Hi Folks,

I received gazette Notification from my user on enhancement of statutory wage ceiling to Rs. 15000/-, minimum pension of Rs. 1,000 per month and 20% additional relief on the amount of assurance benefit admissible under EDLI scheme, 1976 Regarding. Find the attached notification for you reference, is there any SAP Note released regarding this changes Please  Suggest.

 

Regards

Varma

[venkateshorusu · Accepted solution]

Statutory wage ceiling can be changed in table V_T511P - PFBAS PF eligible pay and this is a statutory change since SAP may release a note for the same.

Regards

Venkatesh

[Former Member · Accepted solution]

sir do v have to delimit the date?

[venkateshorusu · Accepted solution]

Yes with effective date delimit the record and create new record with revised statutory wage ceiling.

Regards

Venkatesh

[Former Member]

Hi Varma,

Sap was released Snote :  1913265 - INEPF : EPF minimum wage ceiling raised to Rs 15,000 per month, on yesterday.

Regards

Ratan

[venkateshorusu]

As far i understand this limit is to calculate Er pension /3F4 wage type since Er PF contribution should not get exceeded 12% which is including pension contribution 6500*8.33%(revised is 15000) = 541 the same you subtract from 12 % of PF basis any point of time it will not get exceed Er percentage defined in table V_T7INF3 this can be controlled in function INEPF.

Regards

Venkatesh

[Former Member]

Hi Friends,

I didn't understand one thing, is pension basis changed or pf basis changed ?

if you changed PFBAS from 6500 to 15000 you know how system will calculate the PF for both EE and ER

/3FA - 15000/-

/3F1 -  1800/-

/3F3 -  1800/-

/3F5 -  1800/-

/3F6 -  3900/- + 12600/-

can any one give clarity regarding this basis amount from 6500/- to 15000/- is for PF deduction or Pension scheme calculation ?

[Former Member]

Hi Praneeth,

Let's wait for SAP note till date by changing PFBAS is working fine.

Regards

Varma

[Former Member]

Hi Varma,

As suggested by sanjeev, delimit VV_511P_PFBAS from 1st October.

Regards

Ratan

[Former Member]

i am also looking for same. any notes released?

[Former Member]

Hi,

Change in the payroll constants  it will work and also apply Note after SAP releases it.

sanjeev

[Former Member]

Sanjeev,

Should we do changes in v_t511k or is it V_T511P, if yes then which field to be changed. kindly guide.

Radha

[Former Member]

Hi,

Do changes in V_T511P  Constant PFBAS,  apply note as and when SAP Releases

Sanjeev

[Former Member]

sir do we hav to delimit the date?