PF new rule 10% deduction

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amruth (Querist)
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25 May 2020 Hi All

Now government of India reduced PF from 12% to 10% for both employer and employee.

My question is 2% of employer and 2% of employee saving amount should be credited to employee bank account every month.

And another question is in our PF account 2% employer and 2% employee this 4% government will credit the PF account to become 24% means Indian Government helping us 4% for three months May, June and July 2020

Thanking you
Amruth Kumar

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 May 2020 1 No need of 4% credit to employees bank account. Deduct 10% pf and add 10% of employer contribution and pay to EPF.
2 Indian government will not pay 4%.

amruth

amruth (Querist)
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27 May 2020 Thanks Sir i got it.

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