Epf Employer Contribution Rate 2019 20 Account Wise

So below is the breakup of epf contribution of a salaried person will look like. If the employer pays a higher amount the employer does not have to pay a higher rate as well. For more information check out related articles uan registration uan login pf balance check epf claim status.

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2 3 67 of employer s share in epf of 20000 inr 734.

Epf employer contribution rate 2019 20 account wise. To pay contribution on higher wages a joint request from employee and employer is required para 26 6 of epf scheme. Any extra contribution will go into epf. Now let s have a look at an example of epf contribution. Monthly contribution rate third schedule the latest contribution rate for employees and employers effective january 2019 salary wage can be referred in thethird schedule epf act 1991 employers are required to remit epf contributions based on this schedule.

Employer pension contribution 8 33. Eps contribution will be a maximum of 1250. Contribution for epf. In case of non restricted contribution pf will be on actual contribution i e 12 of 15500 1860 which is the employee contribution.

15000 the employee can pay at a higher rate and in such case employer is not under any obligation to pay at such higher rate. Administration charges go into this account. Employee contribution epf 12 20000 2400 employer contribution eps 8 33 15000 1250 difference 2400 1250 1150 total employer pf 1250 1150 2400 note even if pf is calculated at higher amount for eps we will take 15000 limit only remaining amount wil go to difference. Under epf the contributions are payable on maximum wage ceiling of rs.

If the maximum wage ceiling is rs 15 000 contributions are mandatory. Employer contribution will be split as. Let assume the basic salary of a person is inr 20 000. The pf interest rate 2019 20 is 8 5 per cent while for 2018 19 it was declared at 8 65 per cent up from 8 55 per cent for the fy 2017 18.

Pf admin charges are calculated on total epf wages in a month. Calculation of epf admin charges in 2019. The percentage of epf admin charges for the last few years. Epfo account 2 er a c 2 during the online epf challan submission by the employer the pension fund contributed by the bye employer 8 33 goes into this account.

1 12 of employees share in epf i e. 12 of 20000 inr 2 400. The present epf admin charges in 2019 are 0 50 of total pf wages. Epfo account 10 er a c 10.

For 2019 20 the interest rate is 8 50 which is reduced from the earlier 8 65 per cent. Employer contribution will be split as. Total contribution paid by the employee is 12 and 12 1 13 is contributed by the employer. The epfo has decided to provide 8 5 per cent interest rate on epf deposits for 2019 20 in the central board of trustees cbt meeting held today states gangwar.