EPF contribution reduced, take-home pay to go up1 min read 13 May 2020, 04:57 PM IST
The government also announced an extension by another three months a scheme under which the government pays the EPF contribution of employees and employers.
To increase take-home salary for employees and to give relief to employers in payment of provident fund, Finance Minister Nirmala Sitharaman today said that for next three months EPF or employee provident fund contribution will be 10% each for employees and employers as compared to the statutory obligation of 12%. Experts welcomed the move.
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