EPF contribution reduced for Business & Workers for 3 months [Special Economic Package to support Indian economy in fight against COVID-19 ]

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

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