Employees Provident Fund charges revised with effect from 1st June 2018.
Revised rates are:
Provident contribution and charges:
Contribution Rates (%)
|
Employee’s Contribution rates (%)
|
Employer’s Contribution Rates (%)
|
A/C No 1: PF
contribution A/c
|
12
|
3.67
|
A/C No 2: PF
admin A/c
|
0
|
0.50
|
A/C No 10:
EPS A/c
|
0
|
8.33
|
A/C No 21:
EDLI A/c
|
0
|
0.50
|
Total Contribution
|
12
|
13
|
PF administration charges calculation:
Example: considering employee salary (Basic+DA) Rs. 15000/-
pm
Accounts of
PF Challan
|
Employer
contribution
|
Calculation
|
A/C no 1: PF
contribution account
|
3.67%
|
Rs.15000*0.0367=550.5
|
A/C no 2: PF
admin account
|
0.5%
|
Rs. 15000*0.005=75
|
A/C no 10:
EPS account
|
8.33%
|
Rs. 15000*0.0833=1249.5
|
A/C no 21:
EDLI account
|
0.5%
|
Rs. 15000*0.005=75
|
Total
|
Rs. 1950
|
Revised notification enclosed: Revised EPF Admin Charges/Notification
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