Epf Contribution Rate 2019 20 Notification

With this 172 categories of industries establishments out of 177 categories notified were to pay provident fund contribution 10 w e f.

Epf contribution rate 2019 20 notification. Settlement of death claims on priority basis in events of industrial accidents etc. Notification dated 9th april 1997 was issued enhancing provident fund contribution rate from 8 33 to 10. Notification regarding employees provident fund assistant section officer probationers examination scheme 2020 ho no. The increased ceiling limit notification of epf wages was released on 29 august 2014 and became effective from 1 september 2014.

22 09 1997 onwards 10 enhanced rate 12 a establishment paying contribution 8 33 to. As part of the government s atma nirbhar bharat package in may 2020 finance minister nirmala sitharaman announced that monthly epf contributions of both employers and employees was to be reduced from 24 per cent to 20 per cent for the months of may june and july 2020. The latest contribution rate for employees and employers effective january 2019 salary wage can be referred in the third schedule epf act 1991 click to download. The epf receives and manages retirement savings for all its members encompassing mandatory contributions by employees of the private and non pensionable public sectors as well as voluntary contributions by those in the informal sector.

Revised esi contribution rates employer 3 25 employee 0 75. A 31011 1 2020 exam 14 dated 20 07 2020 256 5kb 41. 121 e dated the 15th february 2019 as. Monthly contribution rate third schedule the latest contribution rate for employees and employers effective january 2019 salary wage can be referred in thethird schedule epf act 1991 employers are required to remit epf contributions based on this schedule.

A series of legislative interventions were made in this direction including the employees provident funds miscellaneous provisions act 1952. The existing rate of contribution by both employee and employer is 12. 423 e whereas a draft containing certain rules further to amend the employees state insurance central rules 1950 were published in the gazette of india extraordinary part ii section 3 sub section i vide number g s r. The move which comes days after finance minister nirmala sitharaman announced the reduction in pf rates for three.

Mole goi notification dt. Edli 3 39 som 2020 246 dated 17 07 2020 243 8kb 40. Employees provident fund contribution rate. The epf mp act 1952 was enacted by parliament and came into force with effect from 4th march 1952.

Since the reduced employees provident fund epf contribution amount was for three months till july from august.