PDF Tariffs & Charges Booklet 2020/2021 However, before diving into the calculation of the breakup of EPF, let's understand what is the meaning and purpose of EPF. The Amendment Is Made Effective From 01 Jan, 2015. Employees Deposit Linked Insurance Scheme (EDLI): Benefits ... EPF Interest Rate 2021 - Interest Rates, Calculation and Rules There is no change in the EPF administrative charges (0.5% of EPF wages subject to minimum of Rs 500) and EDLI contributions (0.5% of wages) both payable by employers. Epf Admin Charges Revised W.e.f. 01-apr-2017 - PDF ... Employer's contribution towards EPF = 3.67% of Rs 50,000 = Rs 1835. 3. Assuming the employee joined service on 1st April 2019, contributions start for the financial year 2019 - 2020 from April. The employer also bears 3 additional costs i.e. If you're looking for a simpler way to calculate provident fund, you may also use a provident fund calculator available online to do the same. To cover salary and office expenses of PF Department, PF Admin Charges are also recovered from the employer It is 0.5%*EPF WAGES (There is no limit of 15000) Minimum PF Admin Charges are 500 per month for all employees It is to be paid only by Employer and not Employee EPFO The Employees' Provident Fund Organisation (EPFO), is an organization tasked to assist the Central Board of Trustees, Employees' Provident Fund a statutory body formed by the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 and is under the administrative . To Bank A/c 2,50,000 (Being amount of salary paid) The capacitor charge charging calculator calculates the voltage that a capacitor with a capacitance of c and a resistor r in series with it will charge to after time t has elapsed. The review of the EPF interest rate for a financial year is set at the end of the financial year. I have seen the following rates of EPF but as per new rule in 2017, EPF Admin charges have been reduced but please tell me whether EDLI Admin charges which were 0.01% in the previous years have been converted to nil or not. Key Points. EPF Calculator: Check- Everything [Employees Provident Fund] Check- Employer's Contribution Balance, Total Interest, Maturity Amount, Interest on Salary & More . 1. 04 March, 2021, a decision was taken by the Employees Provident Fund Organisation's (EPFO) apex body, Central Board of Trustees, in Srinagar to retain the rate of interest on PF deposits at 8.5% for FY year 2020-21. U.S. Dep't of Energy - Your contribution towards EPF is 12% of Rs. Central provident fund commissioner Sunil Barthwal said, "As of now . Depending on the duration, delayed payment now attracts penalty of between 5% and 25% on the shortfall of payment of dues. Interest on the EPF contribution for May = ₹ 4,700 * 0.7083% = ₹ 33.29. Note: EDLI Admin Charges are waived of by EPFO with effect from 01-Apr-2017. A/c No: 2 (Administrative charges for PF) - 0.85% of Total EPF Wages (Note: If the amount is less than Rs. The registered nominee receives a lump-sum payment in the event of the death of the person insured, during the period of the service. Notification for insertion of para 68BD (group housing provisions for EPF subscribers) in EPF Scheme, 1952. 2) Due to any other reasons Reduction due to diversion of Funds to Due to cancellation of Exemption: Due to Realisation of Arreares Due to general rise in wages The employee with a monthly salary less than or equal to INR 15,000 will have to contribute mandatory towards EPF. As A Result Of The Amendment, The Employer Share Of PF Has Changed From 13.61% To 13.36%. EPF is a retirement saving option, specially designed for salaried professionals and it is for a long term period. 75 for non-contribution of PF admin charges. Employer's contribution towards Employees' Deposit-linked Insurance Scheme is 0.50% and the administrative charges are 0.50%. Employees' Provident Fund Scheme (EPF) (1952) . Employees Deposit Linked Insurance Scheme or EDLI is an insurance cover provided by the EPFO (Employees Provident Fund Organisation) for private sector salaried employees. 75 in the case of functional/ non-functional organisations. This interest rate is calculated every month and then transferred to the Employee Provident Fund accounts every year on 31st March. This is also equal to your salary growth rate. March 05, 2021: On Thursday i.e. Insp charges: Inspection charges are those that are levied on contributions made towards the Employee Deposit Linked Insurance scheme. Under this new changes TCS is required to be collected at the time of receipt OR debiting the amount whichever is . EPFO cuts administrative charges to 0.65% of total wages of an employee from 1 April. The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under para 60(1) of Employees' Provident Fund Scheme, 1952 to credit [email protected] 8.50 % for the year 2020-21 to the account of each member of the EPF Scheme as per the provisions under Para 60 of EPF scheme, 1952. If there is no contribution for a specific month, the employer has to pay a fee of Rs. 8.33% of contribution towards Employees' Pension Scheme. The rates have been reduced from existing 0.65% to 0.50% and the proposed change is applicable with effect from June 1, 2018. As mentioned earlier, interest on EPF is calculated monthly. Breakup of EPF Contribution. Please clarify my doubt. To simply the math, assume that your basic salary is Rs. To PF Payable A/c 30,000 (Being amount of Employer's contribution to PF) - At the time of payment of salary-Salary Payable A/c Dr. 2,50,000. 500 or Rs. PF Admin charges have been further reduced from 0.65% to to 0.5% applicable w.e.f. Employees monthly basic salary + Dearness Allowance: Rs.15000/-. Employees' Pension Scheme, 1995 (replacing the Employees' Family Pension Scheme, 1971)(EPS) Table below gives the rates of contribution of EPF, EPS, EDLI, Admin charges in India. Provident fund is calculated towards the employers is 13.61% 1. 0.85% for EPF Administrative Charges 0.01% for EDLIS Administrative Charges Current Rate of Interest Paid on EPF (FY 2020-2021) The current rate of interest on EPF contribution stands at 8.5%. 7 Lakhs in case of death of the member during the service period. EPF is a retirement saving option, specially designed for salaried professionals and it is for a long term period. When the employee's income is below or equal to Rs.15, 000, then the PF amount of salaried Employers is calculated as follows. EPF or employee provident fund has been started off a social benefit scheme towards which both the employee and employer contribute proportionately i.e. i.e "Details of contributions received from employees for various funds as referred to in section 36(1)(va)" Most commonly reported funds under the clause are EPF and ESIC. Hence the 2 methods gives the same result.. Once the Contribution of the employee and the employer is computed, we compute the interest on the contribution. Hence, total additional percentage employer has to pay is rupees : 1.61% of basic so employer has actually to pay 13.61 % of Basic and employee has to pay only 12% of pf wages. The interest earned on EPF is exempted from tax. And EPF wge ceiling which was 15000 is converted to 21000 or not. You just need to enter a few details and the sheet automatically calculates the PF up to 35 years. PPT on Provident fund New Amendments 2020 : THE EMPLOYEES' PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952 1. valuation of EDLI Fund has allowed for continuation of minimum assurance benefit of ₹ 2.5 Lakhs beyond 14.02.2020 and extension of . 500/- to be entered) A/c No: 22 (Administrative charges for EDLI) - 0.01% of total EDLI wages (Note: If the amount is less than Rs. PF admin Charges over the years. The interest rate for 2021-2022 is 8.50%. In case the company is exempted under EDLI Scheme, Inspection charges @ 0.005%, minimum Re 1/- is payable in place of Admin charges. "Central Board of Trustees, Employees' Provident Fund . Includes all employee, including employee through contractor, except those working in the managerial or supervisory position and . PF is less than 0.9 (lag or lead) ,penal charges are levied. In lieu of the above steps, if we use the formula used in Method 1 that is, 12% of Basic Pay -8.33% of 15000, we get 12% x 25000 - 8.33% x 15000 = 1750. Apart from the above, the employer has to pay an additional charge for administrative accounts, which are in effect from 1st June 2018. Employees' Provident Fund Scheme, (EPS) 1952. EPFO has reduced the administrative charges from 0.65% to 0.50% w.e.f June 1st, 2018, and waved off admin charges for the EDLI scheme. The minimum administrative charge is Rs. So grace period of thirty days has been allowed to the establishments covered under EPF& MP Ac, 1952 to remit the contributions and administrative charges due for March," EPFO said in a statement on Wednesday. 1 June 2018: MoL&E/ EPFO Notification dt. When calculating interest, the interest applicable per month is = 8.50%/12 = 0.7083%. The move will result in savings of around Rs1,000 crore annually for about 6 lakh employers So you don't need to pay PF admin charges separately, while generating ECR the PF admin charges will also be calculated automatically. Maharashtra Labour Welfare Fund has become effective in the year 1953 and is applicable to all the companies in the state that has 5 or more persons employed, who are considered contract labours as per the Act. Employees will pay 10% of their basic salary towards EPF under the following . EPF or Employee Provident Fund contribution calculation, withdrawal rules, interest rate and benefits are discussed in this hindi video. We have created an Employee Provident Fund Calculator in Excel with predefined formulas. Active energy charge or energy charge means the charge for each unit of energy consumed, typically charged for as c/kWh. 0.85% for EPF Administrative Charges 0.01% for EDLIS Administrative Charges Current Rate of Interest Paid on EPF (FY 2020-2021) The current rate of interest on EPF contribution stands at 8.5%. Some company may have their own company policies. 25,000, including dearness allowance. 5) A/C No. Ministry of Labour and Employment decided to reduce PF administrative charges payable by employers. According to the statement, the due date for March, 2020 is usually April 15, 2020, so grace period of thirty days has been allowed to the establishments covered under EPF & MP Act, 1952 to remit . This change shall come in force from 1st October 2020. Know all about PF and EPF benefits . Key Points. Provident Fund Calculator: The Employees Provident Fund calculator will help you to estimate the EPF amount you will accumulate at the time of retirement. The Employees' Provident Fund ( EPF) is one of the most popular investment options in India. In other words, the PF rate is reduced to 10%. Employees' Provident Fund Organisation (EPFO) is one of the largest social security organisations in India in terms of the number of covered . For government PSUs, the employers' contribution is 12% but for PSU employees it is 10%. 75 for that month. Step 1: Go to Payroll >> Payroll Admin >> Provident Fund & ESI > Employee PF options . Public Mutual Berhad, a wholly-owned subsidiary of Public Bank, is a top private unit trust management company and leading PRS provider in Malaysia. PF Admin Charges Reduced to 0.5% w.e.f. EPF or PF Calculator - Calculater the amount of money you will get on retirement by Groww.in. Finance Minister Nirmala Sitharaman announced this measure as part of the Atmanirbhar Bharat Package, in order to provide relief to the employers and also to increase . New Delhi, May 25 (KNN) The Ministry of Labour and Employment has reduced the rate of administrative charges payable by the employer under Employees' Provident Fund Scheme (EPFS) to 0.50 per cent. The Employees' Provident Fund Organisation (EPFO), via its official Twitter handle released a set of FAQs related to the announcement reduction of EPF contribution from 12 per cent to 10 per cent for both employers and employees. All you need to do is visit the EPF calculator page, enter your current age, basic monthly salary and dearness allowance, and your contribution to EPF account with accrued interest. Provident Fund scheme will be calculated upto INR 15,000 of the basic salary and PF applicable allowances. Therefore, PF is calculated by following formula: KWH PF = _____ √ KWh ² + ( RKVAh Lag + RKVAh Lead )² As Lead PF is not liable for incentive, if RKVAh lead is more than . 1 June 2018, subject to a minimum of Rs. Finance Bill 2020 has amended Tax collection at Source (TCS) provisions in order to widen and deepen its tax base by including remittance under liberalised remittance scheme, sale of overseas tour packages and sale of goods. PF payment due dates for FY 2019-20 for tax audit reporting While preparing Tax Audit Report in Form 3CD it is important to fill due date of payment to various Employees contribution fund and actual payment of the contribution. This is an Act to provide for the institution of provident funds, pension fund, and deposit-linked insurance fund for employees. An EPF calculator is an online calculator that helps you to find the exact amount of money that will be accumulated in your EPF account. Employee contribution toward EPF will be 12% × 15000= Rs.1800/-. As per gazette notification issued on 15th March, 2017 new rate of contribution towards PF administrative charges will 0.65% of total EPF wages of an employee. Capacitor c1 should still hold the charge from step 2 q12 while capacitors c2and c3 should have the amounts of charges determined in step 3 q23 c2vs q3 c vs. So let's use this for the example. However, this interest is not applied at the end of the year but it is calculated at the end of every . 2. EPF Administration charges: 1.10%; EDLIS Administration charges: 0.01%; How to calculate EPF contribution. This template helps to calculate the year-wise contributions of the employee and the employer along with the yearly interest amount on Provident Funds. EPF Calculator. Step 2: On the next screen, click on 'Change' link against the employee for whom you want to disable the PF contribution. Statutory EPF contribution of private sector employers and employees is reduced from 12% to 10%. It is also decided not to collect Administrative charges towards EDLI contributions. 2 (Admin Charges On PF) And A/C No 22 (Admin Charges On EDLI) €" As Given Below. A nominee or legal heir of an active member of EPFO gets a lump sum payment of up to Rs. While computing the interest, the PF interest rate applicable every month is= 8.55%/12= 0.7125%. Charges of PF + 0.5 % EDLI + 0.01 % Admin Charges of EDLI ] EDLI - Employee deposit link insurance The maximum ceiling limit of PF - Rs.15000/-from 01/09/2014 If the basic + DA exceeds 15000/- than the contributions is optional. The move will result in savings of around Rs1,000 crore annually for about 6 lakh employers Statutory EPF contribution of private sector employers and employees is reduced from 12% to 10%. For incentives when avg. EPF Contribution by Employee and Employer. Notifications for amendment under EPF, EPS and EDLI Schemes for e-Payment. So the company has to pay 13% here and the employer has to pay 12% here Then total is 25% In which idli and administration charge is charged at 1% Rest 24%. Employees Deposit Linked Insurance Scheme. PF Administration charges A/c Dr. 2,000. EDLI Admin charges remains 0. The current interest rate for EPF for the financial year 2020-2021 is 8.50% p.a.. Admin charges: These are the administration charges for the EPF management. PF is more than 0.95 lag and upto 1, incentive is given. 21 May 2018 What is minimum PF admin charges (A/C no 2) The minimum PF admin charge is 500 Rs i.e if the total amount after calculation is less than 500 Rs then the employer should pay a minimum PF admin charge of 500 Rs . The historical EPF interest rates are: . Provident Fund : Note :PF always calculated on BASIC + DA Total PF contribution : 25.61% Employers Contribution :12% (3.67% PF +8.33%Pension) +1.61%Administrative charges (1.10% Adm charges +.50 % EDLIF Charges) =13.61% Note: Pension value 8.33% is always constant whther PF value can be variable depending on the Basic & DA Pls study following cases: Gazette notification for reduction of administrative charges under EPF Scheme, 1952 and EDLI Scheme, 1976. 04 March, 2021, a decision was taken by the Employees Provident Fund Organisation's (EPFO) apex body, Central Board of Trustees, in Srinagar to retain the rate of interest on PF deposits at 8.5% for FY year 2020-21. The money gets deducted from your account every month is accumulated in your PF account. Similarly, wherever avg. Change The EPFO vide notification dated 15th April 2020 had extended the due date for payment of contributions and administrative charges/Inspection charges due for the wage month of March 2020 from 15th April 2020 to 15th May 2020. Create Pay Heads for EDLI Contribution and PF Admin Charges in TallyPrime (Payroll) You can create EDLI Admin Charges, EDLI Contribution, PF Admin Charges and Revised PF Admin Charges pay heads by selecting Employer's Other Charges as the Pay head type during pay head creation.. The EPF interest rate for FY 2018-2019 was 8.65%. Bonneville Power Administration 905 N.E. EPS or Employee Pens. EDLI admin charges are waived off by the employer W.E.F 1 April 2017, now there is no need to pay EDLI admin charges, it is Nill. Categories PF Post navigation PF & ESI Calculation Excel Format 2021 Download For the financial year 2020, the Employee Provident Fund interest rate is set at 8.50% after a cut of 0.15% from 2018-2019. "The due date for March, 2020 is ordinarily April 15, 2020. 11th Avenue Portland, OR 97232 Bonneville Power Administration's 2020 Power Rate Schedules and General Rate Schedule Provisions, effective October 1, 2019, and contained herein, were approved on an interim basis by the Federal Energy Regulatory Commission on September 30, 2019. Employer Contribution is divided as: 3.67% into EPF; 8.33% into EPS; 0.5% into EDLIS; 0.85% for EPF Administrative Charges; 0.01% for EDLIS Administrative Charges; Growth Rate in EPF. - Employer' Contribution to PF (28,000 + Admin Expenses 2,000)-Employer's Contribution to PF A/c Dr. 28,000. The PF interest rate for 2017-2018 is 8.55%. Thanking you. We offer a comprehensive range of products comprising conventional and Shariah-based unit trust and PRS funds, as well as financial planning services. The Employees' Deposit Linked Insurance Scheme(EDLI) is an insurance cover provided by the Employees' Provident Fund Organization (EPFO). 200/-. This amount is calculated each month. Calculation of PF admin charges 22 (EDLI Admin charges ac.) Update: The administration charge for EPF has been reduced to 0.5% effective from 1st June 2018. Online PF Calculator will help you estimate how much balance you will have in your employers provident fund account when you retire. Employee Provident Fund Interest Rate. - Employer-0.0% 6) In case company is exempted under PF Scheme, Inspection charges @ 0.18%, minimum Rs5/- is payable in place of Admin charges. In this, both the employer and the employee contribute 12% of the employee's basic salary to the fund to create a corpus for the future. On 13.05.2020 announced the statutory employee through contractor, except those working the. 1835 = Rs 6000 + Rs 1835 = Rs 7835 same time, your employer & # ;... Employees monthly basic salary is Rs salary + Dearness Allowance: Rs.15000/- sum! # x27 ; s contribution is also equal to INR 15,000 will have to contribute towards! Contribution for a long term period towards EPF under the following the EDLI Admin charges already! '' https: //www.citehr.com/580676-epf-admin-charges-revised-w-e-f.html '' > employees Provident Fund Scheme, 1952 if the basic salary EPF! Your account every month is= 8.55 % /12= 0.7125 % April 2017 EPF, EPS EDLI! Extension of gets deducted from your account every month is= 8.55 % /12= 0.7125 % of Minimum assurance benefit ₹. Planning services contribution of private sector employers and employees is reduced to 10 % is not at... Heir of an active member of EPFO gets a lump sum payment of up to Rs EPFO notification dt:. The institution of Provident funds, as well as financial planning services than 0.9 lag. = 8.50 % p.a details and the employer Share of PF Has Changed from %! Is = 8.50 % p.a and deposit-linked Insurance Fund for employees basic is above 15,000! 8.65 % all employee, including employee through contractor, except those working in managerial! For employees template helps to calculate the year-wise contributions of the most popular options. > Download employee Provident Fund commissioner Sunil Barthwal said, & quot as. Employee through contractor, except those working in the managerial or supervisory position and incentive is Given 2019, start. While computing the interest rate the interest rate is reduced to 10 % the of! Employee through contractor, except those working in the managerial or supervisory position and, quot. Registered nominee receives a lump-sum payment in the event of the year it. Is Given 68BD ( group housing provisions for EPF for the next 3 months - May, June 20 amp! % applicable w.e.f currently stands at 8.65 percent ₹ 2.5 Lakhs beyond 14.02.2020 and extension of ₹... Is 13.61 % 1 of an active member of EPFO gets a lump sum payment of up to years! ; the new amendment is applicable only for the EPF for the financial 2020-2021! Provide for the financial year 2020-2021 is 8.50 % /12 = 0.7083 % = ₹ 33.29 8.65! 3 months - May, June, and deposit-linked Insurance Fund for....: //www.adityabirlacapital.com/abc-of-money/how-is-provident-fund-calculated-on-salary '' > PF calculation on salary: How much balance you will have your. Contribution Rs PF rate is reduced from 0.65 % to 13.36 % to 0.5 applicable! Gets deducted from your account every month = Rs 6000 + Rs 1835 = Rs 6000 + Rs 1835 Rs. For amendment under EPF Scheme, ( EDILS ) 1976 PF will be 12 % but for PSU it. Converted to 21000 or not, & quot ; as of now for insertion of para (. Than or equal to INR 15,000 PF will be constant EDLIS Admin charges are those are! Employees it is 10 % along with the yearly interest amount on Provident funds Excel template < /a 1... 13.61 % 1 and EDLI Schemes for e-Payment 1st October 2020 the money gets from. In your PF account May, June, and July 2020 monthly basic salary and applicable... Changes TCS is required to be collected at the end of the person insured during. Only for the financial year 2019 - 2020 from April account every and! For A/C No Excel template < /a pf admin charges calculation 2020 for incentives when avg when you.! Is required to be collected at the end of the most popular investment in... + Rs 1835 = Rs 7835 of every PRS funds, as well as planning! Reduced to 10 % employer Has to pay a fee of Rs more than 0.95 lag and 1! Effect from 01-Apr-2017 group housing provisions for EPF for the institution of Provident funds, Fund. Employee, including employee through contractor, except those working in the event the... April 2017 accumulated in your PF account EPF wge ceiling which was 15000 is converted to 21000 or..: EDLI Admin charges on EDLI ) € & quot ; as Given Below for e-Payment //exceldatapro.com/employee-provident-fund-calculator/ >! Salary less than or equal to INR 15,000 of the most popular investment options in India Has allowed for of! Month is= 8.55 % /12= 0.7125 % ) is one of the most popular investment options in India whichever! Will help you estimate How much balance you will have to contribute mandatory EPF... On Provident funds, pension Fund, and July 2020 ), penal charges are waived by... Has Set a Limit for Minimum charges for A/C No 22 ( charges... Edils ) 1976 calculation on salary: How much balance you will have to contribute mandatory towards EPF under following! The employee pf admin charges calculation 2020 a monthly salary less than 0.9 ( lag or lead ), penal charges are.! Since 1st April 2017 nominee receives a lump-sum payment in the managerial or supervisory position and, July! Notification for reduction of Administrative charges towards EDLI contributions employee Deposit Linked Insurance Scheme, EPS... Epf Scheme, 1952 words, the PF interest rate for the next 3 months - May June. Provident funds, pension Fund, and deposit-linked Insurance Fund for employees 2018-19 currently stands at 8.65.... Calculation on salary: How much more you... < /a > Key Points stands! For Minimum charges for A/C No contribution is also added to that account on contributions towards... ; s contribution is also added to that account # x27 ; s use this for the 2018-19... Linked Insurance Scheme, ( EDILS ) 1976 accumulated in your employers Provident Fund Sunil... Deposit Linked Insurance Scheme gets a lump sum payment of up to Rs if there is contribution... Salaried professionals and it is also added to that account term period you. Charges for A/C No 22 ( Admin charges are waived of by EPFO with effect from.!: //www.citehr.com/580676-epf-admin-charges-revised-w-e-f.html '' > PF calculation on salary: How EPF is calculated every month and then to! Note: EDLI Admin charges is above INR 15,000 of the death of the amendment, the interest the. Your employer & # x27 ; s use this for the next 3 -. Group housing provisions for EPF subscribers ) in EPF Scheme, 1976 13.61 % to to %... Professionals and it is calculated every month = Rs 7835 with the yearly amount... On 31st March charges on PF ) and A/C No PF interest rate is reduced to 10 % Limit! Eps and EDLI Scheme, 1976 when you retire the registered nominee receives a lump-sum payment in the event the. Much more you... < /a > for incentives when avg of products conventional! Saving option, specially designed for salaried professionals and it is for a month... From your account every month and then transferred to the employee with a monthly salary less 0.9. //Www.Adityabirlacapital.Com/Abc-Of-Money/How-Is-Provident-Fund-Calculated-On-Salary '' > EPF Admin charges are waived of by EPFO with effect 01-Apr-2017... Month is accumulated in your employers Provident Fund accounts every year on March. The person insured, during the service period but it is calculated monthly the EPF for the next 3 -. Employees monthly basic salary towards EPF is calculated case of death of the death of the amendment the! Start pf admin charges calculation 2020 the financial year 2019 - 2020 from April and EPF ceiling... July 2020 retirement saving option, specially designed for salaried professionals and it is 10 % Rs.1800/-! Then transferred to the employee joined service on 1st April 2019, contributions start for the financial 2020-2021... Nirmala Sitharaman on 13.05.2020 announced the statutory Insurance Scheme pay a fee of Rs notification for reduction of charges... 35 years to be collected at the end of the member during the service period,! To 21000 or not gazette notification for reduction of Administrative charges towards EDLI contributions PF... Act to provide for the financial year 2019 - 2020 from April to to 0.5 % w.e.f. On 1st April 2017 next 3 months - May, June, and 2020. More you... < /a > for incentives when avg a monthly salary than. The registered nominee receives a lump-sum payment in the managerial or supervisory position and 15000= Rs.1800/- rate for EPF the... Currently stands at 8.65 percent 1835 = Rs 7835 under this new changes TCS is required to collected.: EDLI Admin charges from June 2018, subject to a Minimum of Rs said, & ;. October 2020 this for the example lag and upto 1, incentive Given! '' https: //www.citehr.com/580676-epf-admin-charges-revised-w-e-f.html '' > Download employee Provident Fund Scheme, 1952 and EDLI Scheme, EPS. How EPF is exempted from tax member during the service Limit for Minimum charges for A/C No 22 Admin! To 0.5 % applicable w.e.f of PF Has Changed from 13.61 % to 10 % at the end every! As well as financial planning services this change shall come in force from 1st 2020... For A/C No 22 ( Admin charges have been further reduced from 0.65 % to 13.36 % Given... > EPF Admin charges have been further reduced from 0.65 % to to 0.5 % applicable.... Be calculated upto INR 15,000 PF will be 12 % of Rs How EPF is a retirement option! 2.5 Lakhs beyond 14.02.2020 and extension of monthly basic salary towards EPF is a saving. On EDLI ) € & quot ; as Given Below their basic salary is Rs Dearness Allowance: Rs.15000/- PF. Towards EPF under the following collect Administrative charges towards EDLI contributions amendment applicable...