Tuesday, September 30, 2025
spot_img

EPF contribution reduced to 10% for the next 3 months

spot_img
- Advertisement -

Union Finance Minister Nirmala Sitharaman announced details for the total Rs 20 lakh crore stimulus package in a press conference on Wednesday. To increase the demand in the country and more take-home salary, the government has decided that EPF contribution for business entities and workers for the next three months will be reduced to 10 percent from the current 12 percent.

EPF contribution reduced for business and workers for 3 months

  • Statutory PF contribution of both employer and employee will be reduced to 10% each from the existing 12% each for all establishments covered by EPFO for the next three months.
  • CPSEs and State PSUs will, however, continue to contribute 12% as an employer contribution.
  • This scheme will be applicable for workers who are not eligible for 24% EPF support under the PM Garib Kalyan Package and its extension.
  • This scheme will provide relief to about 6.5 lakh establishments covered under EPFO and about 4.3 crore employees.
  • Earlier under PMGKP, payment of 12 percent of employer and employee contributions was made into EPF accounts for companies employing up to 100 workers from March to May. Now, this support is extended for June, July, and August as well.

Subscribe to our newsletter!

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Mark Zuckerberg-led Meta begins layoffs today

According to the Wall Street Journal reports Mark Zuckerberg-led...

Wipro is hiring over 100 Management Trainees, other jobs in India

An Indian multinational corporation, IT giant, Wipro in India is hiring...

ADM appoints Jennifer Weber as new CHRO

ADM appoints Jennifer Weber as new Chief Human Resources...

Govt increased Dearness Relief to 28% for pensioners & family pensioners

Department of Pension and Pensioners’ Welfare has issued an...

Global capability centres (GCCs) to hire 500,000 people in India

According to ET reports, Global capability centres (GCCs) of...

IndiGo appoints Sukhjit S Pasricha as Group CHRO

India’s largest passenger airline, IndiGo appoints Sukhjit S Pasricha as the...

Infosys plans to hire 20,000 freshers in FY25

India's second largest, IT services provider company Infosys looking...

Karnataka Bank appoints ex-HDFC Niranjan Kumar as CHRO

As per the exchange filing, an Indian private sector...

Related Articles

SightsIn Plus
SightsIn Plushttps://sightsinplus.com/
SightsIn Plus is an India’s leading high-quality people-focused monthly HR Magazine and provides up-to-date HR News, Leadership Announcements, Best HR Practices and Insights by Global CHROs, CEOs, HR Advisors, Business Managers and HR Heads on topics of interest to HR professionals. To subscribe SightsIn Plus, HR Magazine please visit- https://sightsinplus.com/subscribe/