EPFO Reduces Administrative Fee
The retirement fund body EPFO has reduced the administrative fee it charges from nearly eight lakh employers under its social security schemes, effective from January 1 of this year. The administrative charges have been decreased to 0.85% of the basic wage from 1.10%, as stated in a Labour Ministry Notification.
This decision was made by the EPFO's apex decision-making body, the Central Board of Trustees (CBT), during its meeting in February of last year.
Regards,
Sudharshanan
From India, Madras
Acknowledge(3)
Amend(0)
18The retirement fund body EPFO has reduced the administrative fee it charges from nearly eight lakh employers under its social security schemes, effective from January 1 of this year. The administrative charges have been decreased to 0.85% of the basic wage from 1.10%, as stated in a Labour Ministry Notification.
This decision was made by the EPFO's apex decision-making body, the Central Board of Trustees (CBT), during its meeting in February of last year.
Regards,
Sudharshanan
From India, Madras
Acknowledge(3)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.
Changes in Administrative Charges - w.e.f 1st Jan'15.pdf