CBT of EPFO rejects the Proposal to Reduce PF Contribution Rate from 12% to 10%
There were news reports that PF Contribution rate may be reduced from 12% to 10%, both for employers and employees, as the proposal was on agenda of the EPFO’s CBT meeting held on 27 May 2017 at Pune.
As usual, Govt. and Trade Unions had expressed their view points in support/ opposition of the move.
However, recent news reports suggest that the CBT of EPFO has rejected the proposal of reduction of rate of PF contribution, both by Employers and Employees, from 12% to 10% of the eligible salary, based on feedback on respective concerns from the stakeholders.