It is important to provide more take-home salary to employees and also to give relief to employers in payment of provident fund account. It will allow more take home for employees and less burden on employers
What it means:
The statutory contribution of both employees and employers to 10% each from the existing 12% for all establishments covered by EPFO
The FM highlights that, such will provide relief to about 6.5 lakh establishments covered under EPFO and about 4.3cr such employees.
The statutory contribution of both employees and employers to 10% each from the existing 12% for all establishments covered by EPFO
The FM highlights that, such will provide relief to about 6.5 lakh establishments covered under EPFO and about 4.3cr such employees.
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