In order to provide relief to the people in the locked EPFO Rule, EPF Money, EPF Pension, EPS, EPF Contribution, EPS Contribution, EPS money, National News in Hindi Down, it was decided that PF contribution of all kind of employees is 10 instead of 12 percent. Only percentage will be cut. After this, the salary coming in the hands of the people will increase but the EPF savings have come down. According to the announcement made by the government, for the months of May, June and July, the government has announced to increase the contribution of both employees and employers in EPF to 10 percent instead of 12.
Now if the contribution of the employee and the employer is seen, then 12 percent of the employee’s entire contribution goes towards his savings, while the contribution made by the employer also goes to the employee’s pension. Employer’s contribution to pension EPS paid by EPFO is 8.33 percent. The confusion was over the amount of this pension after the government’s move.
However, the EPFO has recently issued FAQs regarding the new rules which provide clarification regarding pension contribution. It clearly states that the pension portion will not be affected due to the 10 percent contribution which is cut between May and July. This means that even in these three months, the pension contribution will be 8.33 percent.
This means that if your contribution to your PF account goes from May to July only 20 percent instead of 24 percent, then do not worry as it will not affect your pension amount and benefits thereon. .