New to the Knitting Industry? Need Help Understanding Recent PF Rule Changes?

Hi Friends,

I recently joined the knitting industry and was unaware of the recent amendments in the provident fund. While browsing this site, I came across the amendment in the PF rules. Could you please help me understand the details about the amendment?

Regards,
Prasanta

Hi Prashant,

PF is calculated on your basic as follows:
Employees' contribution:
- 12% of Basic goes towards EPF

Employer's contribution:
- 3.67% of Basic towards EPF
- 8.33% of Basic towards FPF

Thank you.