Centre to Pay EPF Contribution of the Employee as well as Employer
GUWAHATI: Finance Minister Nirmala Sitharaman addressing to the media in New Delhi said that Government of India (GOI) will pay the Employees Provident Fund (EPF) contribution of the employee as well as the employer (24%) for the next three months.
In Organised sector, GOI will provide 12 percent for employer and employee will be paid for 3 months in EPF account.
The minister also said that those establishments which have up to 100 employees and 90% earn less than 15000 a month, Government will pay the PF.
Meanwhile, the PF scheme regulation will be amended and with that under organized sector 80 lakh employees to benefit and workers can draw up to 75% of their money in PF or get 3 months wager, whichever is lower and 4.8 crore workers will be benefited.
- Nirmala Sitharaman
- Employees Provident Fund (EPF)
- EPF Contribution