Employees to get 12 % EPF cut from salary every month
Notable Decision by Government of India: All employees figuring under EPF will have to deposit 12 percent of their salary every month with effect from August 31,2020.
In the past, after declaration of lockdown to prevent spread of Coronavirus on March 25, the government had freed them from depositing EPF.
The government was collecting EPF through employee and employer’s account. But notification issued today marked the end of this scheme benefit. As a result, it is mandatory now for both employee and employer have to deposit EPF from their accounts.