New Delhi, May 13 -- To ease financial stress as businesses get back to work, the Government has decided to continue EPF Support for Business and Workers for 3 more months. From the total 20 lakh crore, the fraction for EPF will be Rs 2,500 crore. This will help in providing liquidity to business who will return with the financial burden. Further, to provide more take-home salary for employees and to give relief to employers in payment of PF, the government has reduced EPF contribution for Businesses and Workers for 3 months, amounting to liquidity support of Rs 6750 crores.
Details:
- Statutory PF contribution by employer reduced to 10% from 12% earlier; to provide Rs 6,750 crore liquidity relief. There will be no change in employer contr...