Epf Employer Contribution Rate 2019 20

1 12 of employees share in epf i e. For more information check out related articles uan registration uan login pf balance check epf claim status. 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.

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Employers contribution towards epf employee contribution employers contribution towards employee pension scheme rs550 total epf contribution per month rs 1 800 rs 550 rs2 350 the pf interest rate for 2017 2018 is 8 55.

Epf employer contribution rate 2019 20. 12 of 20000 inr 2 400. Contribution for epf. 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. Under epf the contributions are payable on maximum wage ceiling of rs.

If the employer pays a higher amount the employer does not have to pay a higher rate as well. If the maximum wage ceiling is rs 15 000 contributions are mandatory. So below is the breakup of epf contribution of a salaried person will look like. 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.

Employers are required to remit epf contributions based on this schedule. To pay contribution on higher wages a joint request from employee and employer is required para 26 6 of epf scheme. 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. Epf interest rate 2019 20 how to calculate interest on epf.

423 e whereas a draft containing certain rules further to amend the employees state insurance central rules 1950 were published in the gazette of india extraordinary part ii section 3 sub section i vide number g s r. Let assume the basic salary of a person is inr 20 000. Now let s have a look at an example of epf contribution. Epf is a retirement benefits scheme under the employees provident fund and miscellaneous act 1952 where an employee has to pay a certain contribution towards the scheme and an equal contribution is paid by the employer as well on a month on month basis.

The latest contribution rate for employees and employers effective january 2019 salary wage can be referred in the third schedule epf act 1991 click to download. Revised esi contribution rates employer 3 25 employee 0 75. 121 e dated the 15th february 2019 as. 2 3 67 of employer s share in epf of 20000 inr 734.

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