Covid-19 PF Relief

[Abhi9959]

PF relief would be applicable for the month of August ??

[Jhansi]

No…As per, Finance Minister announcement that monthly EPF contributions (of both employers and employees) was reduced from 24 per cent to 20 per cent for three months of May, June and July 2020 only
From August onwards the EPF contribution will get deducted at 24 per cent again (i.e., 12 per cent each by the employee and the employer) and it will reflect in August Payroll

[Vidyaranjan]

Hi @Abhi9959 @Jhansi ,

Welcome to the greytHR community & Congratulations on your first post!

Thanks @Jhansi for quickly helping out a fellow member. Commendable community practice!

Including one related conversation on this topic here in the community.

[Important: Statutory Update] - PF contribution is rolled back!

Starting from Aug’20 payroll, the Employee & Employer PF contribution is rolled back to the old rate of 12% ​Dear Customer, As we all know, the Covid-19 pandemic pushed the Indian economy into a significant financial crisis. To battle against the pandemic, the Ministry of Labour and Employment came up with many relaxation measures. One of the crucial measures was to provide an option to reduce PF contribution to 10% for employees and employers. The statutory PF relaxation period provided was …

Thanks.