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Reduction in Rate of Administrative Charges from 1.10°/o to 0.85°/o of the pay:

The Ministry of Labour and Employment, Government of India, has issued a notificationNo. S.O. 323(E) and S.O. 324(E) both dated 02.02.2015, to revise the rate of administrative charges under the Employees’ Provident Funds Scheme, 1952. New charges will be effective from 1st January 2015.

And according to the notification, the minimum monthly administrative charges will be Rs 25 for every non-functional firm having no (PF) contributing member and Rs 200 for any other establishments.

Summarised Table of PF rates

Various accounts of PF Challan

OLD Rate

New rates W.e.f 1-Jan-15

Employee

Employer

Employee

Employer

A/c No 1: PF contribution Account

12%

3.67%

12%

3.67%

A/c No 2: PF Admin account

1.10%

0.85%

A/c No 10: EPS account

8.33%

8.33%

A/c No 21: EDLIS account

o.50%

o.50%

A/c No 22: EDLIS admin account

0.01%

0.01%

Net Rate

12%

13.61%*

12%

13.36%*

*Additional contribution by employer has to pay is: 1.36 (old 1.61%) of basic.


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Category Corporate Law, Other Articles by - Member (Account Deleted) 



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