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
From India, Mumbai
Acknowledge(0)
Amend(0)
6As 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
From India, Mumbai
Acknowledge(0)Amend(0)
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 employer i.e. EPS , EPF Admn chg and EDLI.
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)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.
EPF - Pension contribution is zero WHY.jpg
Official gazatte notification for revision of ESIC contribution reduction July 2019 (1).pdf