Is the PF Contribution Rate Really 0.05% Now? Seeking Confirmation from Peers

PF Contribution Rate Update Inquiry

Has the current PF contribution rate been changed? I found a PDF file on Google (epfindia.com/pdf/contributionsRate.pdf) where 0.05% is being calculated on an individual round-off basis. Is this correct? Please confirm.

There is no change in the PF rate, the bifurcation is as below:

a) A/C No. 1 EPF (3.67% of employer share & 12% of employee contribution)

b) A/C No. 2 Administrative Charges (1.1% of salary on which EPF is deducted)

c) A/C No. 10 FPF (8.33% of employer share of contribution)

d) A/C No. 21 EDLI (0.5% of salary on which EPF deductions were made)

e) A/C No. 22 Admin. Charges on EDLI (0.01% of salary on which EPF deductions were made)

Thanking you,

Regards,
Ashish

Thank you, Ashish, but my query is not that. Actually, I want to know the procedure for calculating PF, which the file I am enclosing herewith explains. The PDF file can be found at epfindia.com/sites/pdf/contributionRate.pdf, and the Excel file that I am using for calculation is based on that rate.

Regards.

Both ESI & EPF contributions are calculated on a round-off basis. In EPF, if the calculation results in more than 0.25 Paise, then it should be rounded to the next Rupee. Whereas, in ESI Calculation, if the calculation results in more than 0.01 Paise, then it has to be rounded to the next Rupee.

Thank you.