GConnect is now available on Google Play Store. Download now!!
Translate this page:
Note: This is machine translation and therefore may not be very accurate.

Employees’ and Employers’ contributions to Employees Provident Funds (EPF) – Rajya Sabha Q&A

Government intends to mandate reductions in employees’ and employers’ contributions to Employees Provident Funds (EPF) – Rajya Sabha Q&A

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT

RAJYA SABHA

UNSTARRED QUESTION NO. 268

TO BE ANSWERED ON 03.02.2021

EMPLOYEES’ AND EMPLOYERS’ CONTRIBUTIONS TO EPF

268. SHRI MAHESH PODDAR:
Will the Minister of Labour and Employment be pleased to state:

(a) whether it is a fact that Government intends to mandate reductions in employees’ and employers’ contributions to Employees Provident Funds (EPF);

(b) if so, whether percentage contributed by employees and employers will reduce by the same amount and from when it is expected;

(c) for how long does Government intend to keep the reduction in place; and

(d) whether Government will take any steps to ensure that employers do not unduly reduce their contributions under the garb of this proposed move?

ANSWER

MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI SANTOSH KUMAR GANGWAR)

(a) to (d): There is no proposal for reduction of the rate of contributions under section 6 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. However, due to Covid-19 pandemic and to provide liquidity in the hands of the employers and employees, statutory rate of contributions was reduced from 12% of wages to 10% of wages for three wage months from May, 2020 to July, 2020, as specified vide notification number S.O. 1513(E) dated the 18th May, 2020.

Source: Rajya Sabha

You might also like
Comments
Loading...