Budget 2018: FM announces lower PF contribution of 8% for women employees

Move aimed at increasing participation of women in formal sector workforce

In a bid to boost women’s participation in formal sector jobs, Finance Minister Arun Jaitley on Thursday announced a lower rate of contribution towards schemes under the Employees’ Provident Fund Organisation (EPFO) scheme for women workers.

“Women workers’ contribution towards EPF will be reduced to 8% for the first three years, without employer’s contribution being reduced. This will allow more women to get into formal economy,” Jaitley said, while delivering the speech for Union Budget 2018-19, adding the take-home salary of women employees will also go up with this move.