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EPFO cuts administrative charges to 0.65%

EPFO cuts administrative charges to 0.65%

Thursday, March 23, 2017, 6:44 AM

EPFO has decided to reduce administrative charges to 0.65% of total wages of an employee from 1 April, move that will result in savings of around Rs1,000 crore annually for about 6 lakh employers. EPFO’s decision making body, Central Board of Trustee, had approved the proposal to reduce the administrative charges to 0.65% from existing 0.85% of total wages, on which contributions are payable.
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