Last updated: June 23rd, 2020 2:20 AM

Reduced Rate Of EPF Contribution & Impact On Stakeholders

The cash flow crunch due to the imposition of the Covid -19 national lockdown across the nation has drove the Indian Government to announce the Atmanirbhar Bharat Stimulus Package that also aims at reduced rates of EPF contribution for both employers and employees in the country. Now, the question is who are eligible for these reduced rates and how will they benefit stakeholders? The Finance Minister of India, Nirmala Sitharaman announced a reduction in the Employment Provident Fund EPF as a part of the Atmanirbhar Bharat Stimulus Package with the goal to provide relief to employers and employees to increase their take-home salaries. A set of FAQs relating to announcement has been released in the EPFO