Dear Learned Members,
As we all know, the government has reduced the contribution rates for the months of May, June, and July from 12% to 10%. My question is, "what will be the breakup of the employer's share?" Earlier, it was 3.67% for account 1 and 8.33% for account 10, but if I maintain the same ratio, the jar file does not accept it. How can we determine the correct ratio? Do we need to contribute 12% for both employee and employer shares, and will the EPF department refund the additional 2% from each?
There is no clarification regarding the above subject. Any guidance would be greatly appreciated.
Thanks & Regards,
Jayesh
From India, Mumbai
6As we all know, the government has reduced the contribution rates for the months of May, June, and July from 12% to 10%. My question is, "what will be the breakup of the employer's share?" Earlier, it was 3.67% for account 1 and 8.33% for account 10, but if I maintain the same ratio, the jar file does not accept it. How can we determine the correct ratio? Do we need to contribute 12% for both employee and employer shares, and will the EPF department refund the additional 2% from each?
There is no clarification regarding the above subject. Any guidance would be greatly appreciated.
Thanks & Regards,
Jayesh
From India, Mumbai
Built for Indian HR leaders, our payroll system supports multiple pay structures, variable pay cycles, and region-specific tax rules. See It In Action - Book Your Demo
Dear Jayesh, You need to contribute 10% + 10 %.; There is no refund of 2%+2%; There is no change in any other rate of contribution by employer i.e. EPS , EPF Admn chg and EDLI.
From India, Mumbai
From India, Mumbai
Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
