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Remittance Of EPF Contribution
As per EPS Section 6,6A 6C, EPFS Chapter 5 Para 29,30,36 (1) Chapter IX Para 76,Para 3 And 4 Employees Pension Scheme, EDLI Para 7 and 8 the employer has to deduct employee contribution (12% of PF wages) along with matching employer contribution inclusive of additional admin charges of 1% [EPFO Notification S.O. 2011(E) dated 21st May 2018]and remit these monthly contributions online by obtaining ECR challan on the EPFO website. As per EPFO circular no. C-I/3(19)2016/ Clarification / ECR/7357 dated 21st July 2017, where an establishment consists of different departments or has branches, whether situated in the same place or in different places, it is mandatory on the part of all such multiple unit establishments to fill the details of location wise employees while filing monthly Electronic- challan-cum-Return. For the international workers the PF wages and EDLI wages shall be contributed on full basic wages and should not be restricted to the ceiling limit as prescribed by the government
The Employees’ Provident Fund(EPF) is one of the most popular investment options in India. 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.
The employer and employee make equal contributions to the EPF account as shown below.
|Contribution by||Monthly Percentage Contributed|
|Employee||12% or 10%|
Key Points about EPF Contribution: