PF Contribution Rate Update Inquiry
Has the current PF contribution rate been changed? I found a PDF file on Google (epfindia.com/pdf/contributionsRate.pdf) where 0.05% is being calculated on an individual round-off basis. Is this correct? Please confirm.
From India, Bangalore
Acknowledge(0)
Amend(0)
3Has the current PF contribution rate been changed? I found a PDF file on Google (epfindia.com/pdf/contributionsRate.pdf) where 0.05% is being calculated on an individual round-off basis. Is this correct? Please confirm.
From India, Bangalore
Acknowledge(0)Amend(0)
There is no change in the PF rate, the bifurcation is as below:
a) A/C No. 1 EPF (3.67% of employer share & 12% of employee contribution)
b) A/C No. 2 Administrative Charges (1.1% of salary on which EPF is deducted)
c) A/C No. 10 FPF (8.33% of employer share of contribution)
d) A/C No. 21 EDLI (0.5% of salary on which EPF deductions were made)
e) A/C No. 22 Admin. Charges on EDLI (0.01% of salary on which EPF deductions were made)
Thanking you,
Regards,
Ashish
From India, Pune
Acknowledge(1)
Amend(0)
a) A/C No. 1 EPF (3.67% of employer share & 12% of employee contribution)
b) A/C No. 2 Administrative Charges (1.1% of salary on which EPF is deducted)
c) A/C No. 10 FPF (8.33% of employer share of contribution)
d) A/C No. 21 EDLI (0.5% of salary on which EPF deductions were made)
e) A/C No. 22 Admin. Charges on EDLI (0.01% of salary on which EPF deductions were made)
Thanking you,
Regards,
Ashish
From India, Pune
Acknowledge(1)Amend(0)
Thank you, Ashish, but my query is not that. Actually, I want to know the procedure for calculating PF, which the file I am enclosing herewith explains. The PDF file can be found at epfindia.com/sites/pdf/contributionRate.pdf, and the Excel file that I am using for calculation is based on that rate.
Regards.
From India, Bangalore
Acknowledge(1)Amend(0)
Regards.
From India, Bangalore
Acknowledge(1)Amend(0)
Both ESI & EPF contributions are calculated on a round-off basis. In EPF, if the calculation results in more than 0.25 Paise, then it should be rounded to the next Rupee. Whereas, in ESI Calculation, if the calculation results in more than 0.01 Paise, then it has to be rounded to the next Rupee.
Thank you.
From India, Delhi
Acknowledge(1)Amend(0)
Thank you.
From India, Delhi
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF Notification for 10% Contribution Rate for 3 Months.pdf