Fiance Minister announced a relief package in EPFO for Employer as well as Employee

Dear All,


Finance Minister announced Very important announcements made for people facing difficulties due to this Lock-down,

Finance Minister Nirmala Sitharaman announced a relief package. Major impact in EPF of Employee and Employer.

For organised sector workers;

    1. Government of India will pay the EPF contribution – both for employer and employee (@12%) – for            the next three months so that nobody suffers due to loss of continuity in the EPFO
        contribution. This is only for all those establishment who have up to 100 employees, and 90% of 
        who draw Rs 15,000 salary per month.

    2. Provident Fund scheme’s regulations will be amended to allow non-refundable advance of 75% 
        of the amount standing to the credit of the person, or three month of wages whichever is lower;
        This will benefit 4.8 crore workers.

We shall keep you posted about Any further modification / amendment in the above orders

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