placements.fortune.pune
Is it official that PF administrative charges have been reduced to 0.85% from 1.10%? Is there an official circular/notification? If yes, please could anyone forward it to me.
From India, Mumbai
prghr
18

Dear Sir/Madam I have attached the notification regarding PF Administrative Charges.
From India, Delhi
Attached Files (Download Requires Membership)
File Type: pdf WSU Admin Charges Reduction.pdf (167.6 KB, 511 views)

vasili.kirankumar
Dear All,

With reference to the above circular dated 02nd March, 2015, the EPFO has come up with a circular for changing the Admin Charge(A/c No 2) for an establishment from the existing 1.10% to 0.85% of Basic Wages + DA + Cash Value of Food Concession, thereby resulting in reduction by 25 basis points. The amendment is made effective from 01 Jan, 2015. As a result of the amendment, the Employer Share of PF has changed from 13.61% to 13.36%.
However, the department has set a limit for minimum charges for A/c No. 2 (Admin Charges on PF) and A/c No 22 (Admin Charges on EDLI) – as given below

Date of Effect : 01 January, 2015

Category of Establishment: At-least 1 PF member (Employee)

Before Amendment
A/c No 2 : Admin Charges on PF : 1.10% of Basic Wages + DA + Cash Value of Food Concession
A/c No 22 : Admin Charges on EDLI : 0.01% of Basic Wages + DA + Cash Value of Food Concession

After Amendment
A/c No 2 :0.84% subject to minimum Rs.500
A/c No 22:0.01% subject to minimum Rs.200

Category of Establishment : Non-functional establishment having no PF member (Employee)

Before Amendment
A/c No 2 : Admin Charges on PF : Rs. 5
A/c No 22 : Admin Charges on EDLI Rs. 2

After Amendment
A/c No 2 :Rs. 75
A/c No. 22 :Rs. 25

To conclude, if the amount payable for a month falls below Rs.500 (for A/c No 2) or Rs.200 (for A/c No 22), then Rs.500 and Rs.200 will be payable in A/c No. 2 and 22, respectively. Effectively, PF liability will increase for employers with low Aggregate Wages and will decrease for employers with higher Aggregate Wages.

Note: Nothing contained in above notification shall affect the administrative charges payable in respect of the period upto and inclusive of 31st Dec 2014

From India, Delhi
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