Retirement fund body EPFO has cut the administrative fee it charges from nearly eight lakh employers coming under the ambit of its social security schemes, effective from January 1 this year.
The administrative charges has been reduced to 0.85 per cent of basic wage from 1.10 per cent, as per a Labour Ministry Notification.
The decision in this regard was taken by the EPFO's apex decision making body, the Central Board of Trustees (CBT), in February last year in its meeting. ..
From India, Madras