PF body proposes decreasing administrative charges for employers

The central board of trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) will discuss a proposal to decrease the administrative charges for employers in a bid to boost social security coverage for the workers later this month.

The EPFO has proposed to decrease the administrative charges to 0.50 per cent from 0.65 per cent of the worker’s monthly income that goes as employer’s share. This is the third year in a row that the EPFO has proposed decreasing the administrative charges for employers. “It is recommended that the administrative charges may further be reduced to 0.50 per cent of