Hi. I am working with a hospital in Bangalore and seek clarification on the waiver being given by the government for new employees, wherein the employer contribution is being paid by the government for three years. In the case of new female employees, the contribution rate has been reduced from 12% to 8%. I seek clarification on this and would appreciate getting the latest PF circular on these changes.
From India, Mumbai
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1From India, Mumbai
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There is Pradhan Mantri Rojgar Protsahan Yojana. Under this scheme, the government will pay 12% of the employer contribution of all new employees becoming members of EPFO for the first time for the first 3 years of their employment. Also, only those employees earning less than ₹15,000 (Gross salary) are covered under this scheme. I have attached the file containing all the details of PNRPY. You can read more about this yojana on the PF site as well.
From India, Pune
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From India, Pune
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Madhummenon,
We have not come across or heard that PF contribution has reduced from 12% 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
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We have not come across or heard that PF contribution has reduced from 12% 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
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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 account as of 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
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Thanks, Suresh 2511, for the circular.
From India, Kolkata
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Provident fund.zip
PROVIDENT FUND.rar
PROVIDENT FUND.doc