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Provident fund

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Tanvi Patel

Deputy Accounts Manager

59 Points Posted on 15 May 2020

Hello all c

Which companies are covered for reduced rate of pf from 12 pecent to 10 percent

Can anyone explain in detail regarding pf rules for three months of Jun July and august

Replies (4)

Quick Summary

The government temporarily reduced the statutory Employee Provident Fund (EPF) contribution for private sector employers and employees from 12% to 10% for three months: June, July, and August 2020. This measure was introduced as a COVID-19 relief effort. While PSU employers' contributions remain at 12%, PSU employees can opt to pay 10%. The reduction applies to all establishments covered by the EPFO.

suraj zanwar

Student CA IPC / IPCC

144 Points Posted on 15 May 2020

Government has reduced statutory EPF contribution of private sector employers and employees from the current mandated 12% to 10% for next 3 months, in an attempt to provide relief against coronavirus.

The EPF cut will be applicable for the month of June, July and August 2020. However, for government PSUs the employers contribution will remain at 12% but PSU employees can pay 10%.

This was one of the covid relief measures announced by finance minister at a press conference dated May 13, 2020.

Thanks