Gazette Notification in respect of EPF contribution of private sector employers and employees from the current mandated 12% to 10% for next 3 months, May, June and July 2020.
=============================
Government has *reduced statutory EPF contribution of private sector employers and employees from the current mandated 12% to 10% for next 3 months*, in an attempt to provide relief against coronavirus. The *EPF cut will be applicable only for the month of May, June and July 2020
PF Distribution for next 3 months with reduced rate of contribution
*A/c No. 01 PF Contribution*
11.67%
(Employee 10% + Employer 1.67%)
*A/c No. 10 Pension Contribution*
8.33%
*A/c No. 02 PF Admin Charges*
0.5%
*A/c No. 21 EDLI Contribution*
0.5%
*Total*
21%
=============================
Government has *reduced statutory EPF contribution of private sector employers and employees from the current mandated 12% to 10% for next 3 months*, in an attempt to provide relief against coronavirus. The *EPF cut will be applicable only for the month of May, June and July 2020
PF Distribution for next 3 months with reduced rate of contribution
*A/c No. 01 PF Contribution*
11.67%
(Employee 10% + Employer 1.67%)
*A/c No. 10 Pension Contribution*
8.33%
*A/c No. 02 PF Admin Charges*
0.5%
*A/c No. 21 EDLI Contribution*
0.5%
*Total*
21%
Comments
Post a Comment