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
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7As 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
Acknowledge(0)Amend(0)
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
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From India, Mumbai
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ESI contribution rates lowering.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx