Rates of Provident Fund (PF) Administrative Charges reduced


Rates of Provident Fund (PF) Administrative Charges reduced
The Employees’ Provident Fund organization (EPFO) has reduced the PF administrative charges to 0.65% (earlier the rate was 0.85%). Furthermore, the Employees’ Deposit Linked Insurance (EDLI) administrative charges have been reduced to 0% (nil) (earlier the charges were 0.01%). These changes are implemented from 1st April 2017.
 
S.No Particulars Non Contributory (No Employee is being paid, but PF code is in use) Non Contributory (No Employee is being paid, but PF code is in use)
Old Rate Up to 31st March 2017 Revised Rate from 1st April 2017 Old Rate Up to 31st March 2017 Revised Rate from 1st April 2017
1 PF Admin Charges( A/c No: 2) in payment challan Monthly Minimum rate of Rs. 75 Monthly Minimum rate of Rs. 75 Monthly Minimum rate of Rs. 500 (or) Monthly Minimum rate of Rs. 500/- (or)
0.85% of PF wage , whichever is higher 0.65% of PF wage , whichever is higher
 
2 EDLI Admin Charges (A/c No: 22) Monthly Minimum rate of Rs. 25 0% (Nil) Monthly Minimum rate of Rs. 200/- (or) 0% (Nil)
0.01% of restricted PF wage, whichever is higher (No change in the contribution rate but only on Monthly Minimum rate)

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