EPFO Administrative Charges Update: What Do the New Rates Mean for You?

Dear Folks,

Revised administrative charges for EPFO effective 1st April 2017 are 0.65 percent (zero point six five percent).

Hi Mr. Mudassar,

Could you please explain how I should implement the administrative charges calculation in my payroll Excel sheet? Currently, I am calculating based on the total employer PF share as follows: 8.33% (EPS contr.) + 3.67% (EPF contri.) + 1.36% (admin charges).

Additionally, could you help me understand the Rs. 75/- payable for what type of non-contributory member as mentioned in the notification?

Looking forward to your response!

Regards,
Rohan Gupta
Bangalore

Hi Seniors,

Can anyone explain in detail payroll calculation with PF, ESIC, Gratuity, TDS, Admin charges, and including both challans in Excel?

Thanks,
Isha

Details of EPF Contribution Payable with Effect from April 2017

A/C 1 EE - Employee Contribution @ 12%
A/C 1 ER - Employer Contribution @ 3.67%
A/C 2 Administrative Charges @ 0.65% or a Minimum of Rs 500/-, whichever is higher on EPF Wages
A/C 10 Employees Pension Fund @ 8.33% (Maximum up to Rs 15,000/-)
A/C 21 EDLI Contribution @ 0.50% (Maximum up to Rs 15,000/- including for Non-EPS Members)
A/C 22 EDLI Administrative Charges: Nil CONTRIBUTION

Total Employee Contribution @ 12%
Total Employer Contribution @ 13.15%
Last Date for Remittance of Contributions: Before the 15th of the Month

Establishments (Non-Functional/Closed) Not Having Any EPF Covered Employees on Its Roll

A/C 2 Administrative Charges: @ Rs 75/-
A/C 22 EDLI Administrative Charges: Nil CONTRIBUTION
Last Date for Remittance of Contributions: Before the 15th of the Month