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EPFO cuts admn charges to 0.65%; firms

EPFO cuts admn charges to 0.65%; firms

Thursday, March 23, 2017, 11:19 AM

Retirement fund body EPFO has decided to reduce the administrative charges to 0.65% of total wages of an employee from April 1, a move that will result in savings of around Rs 1,000 crore annually for about 6 lakh employees. The Central Board of Trustee had approved the proposal to reduce the administrative charges to 0.65% from the existing 0.85% of total wages.
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