PRESENT RATES OF CONTRIBUTION BY CONTRIBUTIONACCOUNTS ADMINISTRATIONACCOUNTS
EPF EPS EDLI EPF @@ EDLI @@
EMPLOYEE 12% /10% ## 0 0 0 0
EMPLOYER Difference of EE
share and Pension
8.33% ## 0.5% ## 0.85% !!
10% rate is applicable for
Any establishment in which less than 20 employees are employed.
Any sick industrial company and which has been declared as such by the Board for Industrial and Financial
Any establishment which has at the end of any financial year, accumulated losses equal to or exceeding
its entire net worth and
with regard to PF on gross the Madras High court has given the judgement in one of cases that Exclude the HRA all the allowances shall be the part of Wages for the chargability of PF however the review petition has been filed in supreme court. Hence this issue is awaiting on supreme court judgement whether PF contribution shall be mede inclusive allowances exclude the HRA or not. till then follow the existing wages definition as per sec 2(b) of the said act. charge PF on Basic plus DA?
Thanks & Regards
HR & Labour, Corporate Laws Advisor
Latest contribution of epf sharing ratio as given below-
A/c No 1 =12% EE
A/c No 1 =3.67% ER
A/C No10 =8.33%
A/c No 2 =0.65% w.e.f 01.04.2017
A/c No 21=0.5%
A/c No 22=0.01%
Minimum Admin Charge=500/- A/c No-02
Min. Inspection Charge = 200/- A/c No 22
Non Contribution min. admin & Inspection Charge =75/- & 25/-
Greetings of the Day!
I want one more help from you guyz. Actually I m working in a company where about 100 Employees works.
And the company is telling me to provide best scheme regarding PF and ESI contribution. Can anybody help me regarding the scheme. (i.e. How can I help the company with lowest expenses on PF contribution ?)
I mean how can I include less employee in PF contribution?