The labour Ministry on Tuesday said employees can contribute more than the newly set limit of 10 per cent of basic wages to their provident fund (PF) for the next three months, but employers don’t need to match the higher contribution.
In a statement, the ministry said, “Under the EPF Scheme, 1952, any member has the option to contribute at a rate higher than statutory rate (10 per cent) and employer can restrict his contributions 10 per cent in respect of such employee.”
On Tuesday, the Ministry of Labour & Employment has implemented the decision to cut employees’ provident fund (EPF) contributions to 10 per cent from the existing 12 per cent for three months till July.
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