EPFO : EPF Limit Employees 20 or more registration mandatory

EPF CONTRIBUTION RATE

Employers contribute towards their Employees’ Provident Fund (EPF) at the rate of 12% of the basic salary from which 8.33% of their individual monthly salaries goes into the Employees’ Pension Scheme (EPS). However, this contribution cannot exceed Rs 1,250 i.e. 8.33% of Rs. 15,000 per month in the EPS Scheme.

0.5% of the total income of an employee, up to a maximum of Rs. 15,000 monthly salary, has to be contributed by his/her employer every month against the Employees’ Deposit Linked Insurance (EDLI) Scheme.

Annually, the employer’s contribution towards Employees’ Deposit Linked Insurance Scheme (EDLI) cannot exceed a maximum of 0.5% of Rs. 15,000 monthly salary

12% of Rs. 15,000, or 12% of (Basic Income + Daily Allowance, if applicable), not exceeding Rs. 15,000 in a month, has to be paid by the employer and the employee as EPF contribution.

 

ALSO READ : FOR TDS FROM SALARY, YOU WILL HAVE TO CHOOSE YOUR TAX REGIME NOW : CBDT CIRCULAR

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