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Budget 2021: Labour Ministry Recommends Reduced EPF Contribution - Exclusive
A cut in contribution from employees and employers may be on the cards in the upcoming budget.
08 Jan 2021, 02:01 PM IST
The Ministry of Labour and Employment has suggested bringing down the rate of contribution by companies towards the pension and provident fund schemes administered by the Employees’ Provident Fund Organisation in the upcoming Union Budget.The ministry has proposed decreasing the rate of contribution made by both employers and employees from 12% to 10% each of the latter’s monthly wage, as one of its proposals to the ministry of finan...
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