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EPF contribution 24%: Extension of validity period from June to August 2020

EPF employer’s and employee’s contribution 24%: Extension of validity period for another three months from June to August 2020 – EPFO OM dated 14.07.2020

कर्मचारी भविष्य निधि संगठन
A EMPLOYEES’ PROVIDENT FUND ORGANISATION
e (Ministry of Labour & Employment, Govt. of India)
Head Office, Bhavishya Nidhi Bhawan,
14, Bhikaiji Cama Place, New Delhi – 110 066.

Date: 14/07/2020

OFFICE MEMORANDUM

Subject: Extension of validity period of Scheme for implementation of PMGKY package for credit of employer’s and employee’s contributions (24% of wages) by Government of India.

As part of the Pradhan Mantri Garib Kalyan Yojana (PMGKY) package, the Central Govt. had proposed to pay 24 percent of the monthly wages for three months into EPF accounts of Wage-earers below Rupees fifteen thousand per month, with a view to prevent disruption in the employment of low wage earning employees and support establishments employing up to one hundred employees, with 90% or more of such employees earning less than Rs.15,000/- monthly wages.

That Scheme guidelines approved by Ministry of Labour & Employment, Govt. of India to implement the above package was notified vide EPFO Office Memorandum no. C-I/Misc./2020-21/Vol.II/Pt./ dated 09.04.2020 wherein it was specified in clause 3 that the Scheme is valid for the wage months of March, 2020, April, 2020 and May, 2020.

That the competent authority has approved the extension of the existing benefit under the aforesaid Scheme for three months under the Aatmanirbhar Bharat Abhiyan. Therefore, the clause 3 of the Scheme is amended to the extent that the Scheme shall be in operation for wage months of March, 2020, April, 2020, May, 2020, June, 2020, July, 2020 and August, 2020.

(Authority: MoL& E, GOI, Letter no. S-35012/02/2020-SS-II(pt.), dated 08.07.2020)

(Pakaj Raman)
Addi. CPFC (Compliance)
EPFO, Head Office

To,
(As per the list)

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Also check the following links related to this topic:

Cabinet approved EPF contribution 24% from June to August 2020

EPFO adds 1.39 crore subscribers in last two financial years – PIB

Restoration of commuted value of pension after 15 years – EPFO

Lower rate of EPF subscription for salary months of May, June and July 2020

Employees of EPFO contribute Rs 2.5 crore to PM CARES fund

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