EPF contribution rate cut from 12% to 10% for next 3 months if Salary above Rs 15,000

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Employee EPF contribution cut: Statutory PF contribution of both employer and employee will be reduced to 10% each from the existing 12% each for all establishments covered by EPFO for the next three months.

The finance minister informed that those earning a basic salary of more than Rs 15,000 a month can opt to pay 10 per cent instead of the mandatory 12 per cent contribution towards PF for the next 3 months.

The government has announced several measures for employees on Wednesday evening giving them some relief during the coronavirus crisis. Probably, the most important announcement came in the form of benefits announced for members of Employees’ Provident Fund (EPF).

The government has announced several measures for employees on Wednesday evening giving them some relief during the coronavirus crisis. Probably, the most important announcement came in the form of benefits announced for members of Employees’ Provident Fund (EPF).

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