In a plan to provide more take home salary to employees and also to give relief to employers in payment of Provident Fund dues,
Statutory PF contribution of both employer and employee will be reduced to 10% each from existing 12% each for all establishments covered by EPFO for next 3 months.
CPSEs and State PSUs will however continue to contribute 12% as employer contribution.
This scheme will be applicable for workers who are not eligible for 24% EPF support under PM Garib Kalyan Package and its extension.
Content Source- https://pib.gov.in/PressReleasePage.aspx?PRID=1623585