Hi. I am working with a hospital in Bangalore and seeks clarification on the waiver being given by government for new employees wherein employer contribution is being paid by the government for three years and in case of new female employees contribution rate has been reduced from 12% to 8%. I seek clarification on this and would appreciate to get the latest PF circular on these changes.
From India, Mumbai
1From India, Mumbai
There is Pradhan mantri rojgar protsahan yojana, under this scheme government will pay 12% of employer contribution of all new employees becoming the member of EPFO for the 1st time for the 1st 3 years of their employment. Also only those employees who are earning less than 15000 (Gross salary) are covered under this scheme. I have attached the file which carries all the details of PNRPY. You can read more about this yojana on PF site as well.
From India, Pune
From India, Pune
Madhummenon,
We have not come across or heard that PF contribution has reduced from 12ver% to 8% for female employees. However, there is an amendment for PMPRY wherein the entire employer's contribution of 12% (earlier 8.33%) will be reimbursed under the PMPRY Scheme with effect from 1st April, 2018. Circular attached.
Suresh
From India, Thane
We have not come across or heard that PF contribution has reduced from 12ver% to 8% for female employees. However, there is an amendment for PMPRY wherein the entire employer's contribution of 12% (earlier 8.33%) will be reimbursed under the PMPRY Scheme with effect from 1st April, 2018. Circular attached.
Suresh
From India, Thane
The circular as above is very clear in stating that the government will reimburse 8.33% which is payable by the employer towards EPS (the pension scheme) for those new employees who did not have a PF A/c as on 2016. The rate of PF contribution by the employer and employee remains 12% for all employees. Thanks, Suresh 2511, for the circular.
From India, Kolkata
From India, Kolkata
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Provident fund.zip
PROVIDENT FUND.rar
PROVIDENT FUND.doc