EPFO Lowers Administrative Fees: How Will This Impact Employers and Employees?

EPFO Reduces Administrative Fee

The retirement fund body EPFO has reduced the administrative fee it charges from nearly eight lakh employers under its social security schemes, effective from January 1 of this year. The administrative charges have been decreased to 0.85% of the basic wage from 1.10%, as stated in a Labour Ministry Notification.

This decision was made by the EPFO's apex decision-making body, the Central Board of Trustees (CBT), during its meeting in February of last year.

Regards,
Sudharshanan

Kindly send us the new notification that administrative charges have been reduced to 0.65 percent of basic wage from 0.85 percent.