Confused About Employer's 10% Contribution Split for May-July? Let's Figure It Out Together

Dear Learned Members,

As we all know, the government has reduced the contribution rates for the months of May, June, and July from 12% to 10%. My question is, "What will be the breakup of the employer's share?" Earlier, it was 3.67% for account 1 and 8.33% for account 10, but if I maintain the same ratio, the jar file does not accept it. How can we determine the correct ratio? Do we need to contribute 12% for both employee and employer shares, and will the EPF department refund the additional 2% from each?

There is no clarification regarding the above subject. Any guidance would be greatly appreciated.

Thanks & Regards,
Jayesh

Dear Jayesh,

You need to contribute 10% + 10%.

There is no refund of 2% + 2%.

There is no change in any other rate of contribution by the employer, i.e., EPS, EPF admin charge, and EDLI.

Dear Member,

Out of the 10% employer contribution, 8.33% goes to Account No. 10, i.e., Employees' Pension Scheme, and the rest of 1.67% goes to Account No. 1, i.e., Employees' Provident Fund.

N. LOKANADHA BABU Sr. Manager-HR