Hi Paul
Admin charges % rate is same as before. But the value increase because of change in slab.
The increase will happen if you had restricted PF to Rs.6500/- only (even if your basic would have been more than Rs.6500/-)
If you were to be paying PF on full basic, then admin charges will not differ.
For example, if your basic were to be Rs.20000/- but paying PF on Rs.6500/- then admin charges was Rs.6500*1.61%
Now it will be Rs.15000*1.61%
If you were to be paying PF on full Rs.20000/- then your admin charges were to be Rs.20000*1.61%
Now also it will be Rs.20000*1.61%. Only EPS will change from Rs.541/- to Rs.1250/-
Thanks
Mahesh.H.M.M
Admin charges % rate is same as before. But the value increase because of change in slab.
The increase will happen if you had restricted PF to Rs.6500/- only (even if your basic would have been more than Rs.6500/-)
If you were to be paying PF on full basic, then admin charges will not differ.
For example, if your basic were to be Rs.20000/- but paying PF on Rs.6500/- then admin charges was Rs.6500*1.61%
Now it will be Rs.15000*1.61%
If you were to be paying PF on full Rs.20000/- then your admin charges were to be Rs.20000*1.61%
Now also it will be Rs.20000*1.61%. Only EPS will change from Rs.541/- to Rs.1250/-
Thanks
Mahesh.H.M.M