Understanding PF Calculation for PMRPY on 3rd Party Payroll: Can Anyone Explain?

Can anybody guide me on how the calculation is done for those who are registered under the Pradhan Mantri Rozgar Protsahan Yojana on the 3rd Party Payroll? Does the principal employee need to contribute 3.67% of the employee's share, and the rest will be contributed by the PM fund? If anyone has the calculation, kindly share.

1) 8.67% in every industry, as well as 12% of employer share in value-added industry, is marked in the attachment.

2) Applicable to new joiners who were not earlier members of PF.

3) Salary/wages processing before the 10th of every month.

4) Remarks on the base year in the scheme are currently omitted.

Step-by-step process is already mentioned on pmrpy.gov.in website.

Who is eligible for PMRPY benefit, labor contractors, or principal employers?

Who is eligible for PMRPY benefit: labour contractors or principal employers?

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Hi,

The Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) is a government initiative aimed at encouraging employers to create new employment opportunities. Under this scheme, employers are incentivized for contributing to the Employee Provident Fund (EPF) of eligible employees.

Now, the question arises: who can avail of the PMRPY benefit - labour contractors or principal employers?

To clarify, both labour contractors and principal employers can avail of the PMRPY benefit, provided they meet the eligibility criteria set by the scheme. It's essential to understand the specific guidelines and conditions outlined by the PMRPY to ensure compliance and maximize the benefits for both employers and employees.

If you have any further questions or need more information on the PMRPY scheme, feel free to reach out.