According to a latest notification from the PF department, the admin charges for PF has been reduced to 0.65% with effective from 1st of April 2017.
The EPFO has also determined that no sum shall be payable by the employer towards the administration of the Employees’ Deposit-Linked Insurance Scheme.
Below is the notification from the department:
Employees’ Provident Fund Organisation
(Ministry of Labour & Employment, Govt. Of lndia)
No. WSU/44(2)97/Administrative Charges/ 33959 Date:22.03.2017
All ACCs (HQ)/ACCs (Zones) &
All RPFCs-Incharge of
Sub: i) Reduction in the rate of administrative charges from 0.85% to 0.65% of the pay towards
EPF Scheme, 1952
ii) Non-levy of administrative charges towards EDLI Scheme, 1976.
Ref: MoL&E Notifications No. S.0.827(E) dated 15th March, 2017 and S.0.828(E) dated 15th March, 2017.
Please find enclosed copies of notifications issued by the Ministry of Labour & Employment on the above said subject. The notifications shaHcome into force from 1st April, 2017.
2. The expenditure incurred in administering the Employees’ Provident Fund is met from the administrative and inspection charges collected from the employers of un-exempted and exempted establishments respectively. The administrative charges had been reduced from 1.10% to 0.85% with effect from 1st January, 2015
3. The Central Government, after consulting the Central Board and having regard to the resources of the Employees’ Provident Fund available for meeting its normal expenditure expenses, has further reduced the administrative charges payable by the employer for the purpose of paragraph 30 and sub-paragraph of (1) of paragraph 38 of EPF Scheme, 1952 at 0.65 per cent (zero point six five per cent) of the_pay vide Notification No. S.0.827(E) dated 15th March, 2017.
4. Further, the Central Government vide Notification No. S.0.828(E) dated 15th March, 2017 has determined that no sum shall be payable by the employer towards the administration of the Employees’ Deposit-Linked Insurance Scheme, 1976.
5. The Information Services Division has also been requested to bring in necessary changes in the application software.
Encl: As above
Regional P.F. Commissioner- I (F&A)