{"id":218782,"date":"2019-08-29T15:56:20","date_gmt":"2019-08-29T10:26:20","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=218782"},"modified":"2019-08-29T16:00:00","modified_gmt":"2019-08-29T10:30:00","slug":"breaking-centre-proposes-reduction-in-employees-provident-fund-contribution","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/29\/breaking-centre-proposes-reduction-in-employees-provident-fund-contribution\/","title":{"rendered":"Breaking | Centre proposes reduction in Employees&#8217; Provident Fund contribution"},"content":{"rendered":"<p style=\"text-align: justify;\">As reported by <em>money control<\/em>, Ministry of Labour and Employment has recommended reducing\u00a0the contribution made by employees towards the Employees\u2019 Provident Fund (EPF).<\/p>\n<p style=\"text-align: justify;\">Presently, the mandated EPF contribution is 24 percent of basic pay, divided equally between employers and employees. The above-made suggestion is a part of the proposed Employees\u2019 Provident Fund and Miscellaneous Bill, 2019.<\/p>\n<p style=\"text-align: justify;\">It has been stated that once there would be a reduction in worker\u2019s contribution to the Employees&#8217; Provident Fund (EPF) it would result in the improvement of their in-hand-salaries.<\/p>\n<p style=\"text-align: justify;\">Another proposal is allowing employees to switch between the Pension Fund Regulatory and Development Authority-run National Pension Scheme (NPS) to the Employees Provident Fund Organisation (EPFO) scheme.<\/p>\n<p style=\"text-align: justify;\">A preliminary draft of the EPF and MP (Amendment) Bill, 2019, dated August 23 has sought suggestions and comments until September 22, 2019.<\/p>\n<hr \/>\n<p><strong>[Source: MoneyControl]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As reported by money control, Ministry of Labour and Employment has recommended reducing\u00a0the contribution made by employees towards the Employees\u2019 Provident Fund <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[30711,37321,37320],"class_list":["post-218782","post","type-post","status-publish","format-standard","hentry","category-hot_off_the_press","category-news","tag-epf","tag-epf-and-mp-amendment-bill-2019","tag-provident-fund-contribution"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Breaking | Centre proposes reduction in Employees&#039; 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Surendra Mohan and A.M. Babu, JJ. dismissed an appeal filed by a bank and concluded that deposit collectors, who act as agents of the bank, are \u2018employees\u2019 for the purpose of Employees\u2019 Provident Funds and Miscellaneous Provisions Act, 1952 (EPF Act). The\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":267702,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/01\/regulation-of-inquiries-under-section-7-a-of-the-epf-act-the-need-of-the-hour\/","url_meta":{"origin":218782,"position":1},"title":"Regulation of Inquiries under Section 7-A of the EPF Act \u2013 The Need of the Hour?","author":"Bhumika Indulia","date":"June 1, 2022","format":false,"excerpt":"by Jeevan Ballav Panda\u2020, Meher Tandon\u2020\u2020, and Dhriti Mehta\u2020\u2020\u2020 Cite as: 2022 SCC OnLine Blog Exp 44","rel":"","context":"In &quot;Experts Corner&quot;","block_context":{"text":"Experts Corner","link":"https:\/\/www.scconline.com\/blog\/post\/category\/experts_corner\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-132.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-132.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-132.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-132.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-132.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":213480,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/04\/10\/madras-hc-impossible-for-a-factory-to-have-more-number-of-apprentices-than-employees-provisions-of-epf-act-to-be-interpreted-only-in-favour-of-employees\/","url_meta":{"origin":218782,"position":2},"title":"Madras HC | Impossible for a factory to have more number of apprentices than employees; provisions of EPF Act to be interpreted only in favour of employees","author":"Bhumika Indulia","date":"April 10, 2019","format":false,"excerpt":"Madras High Court:\u00a0Abdul Quddhose, J., dismissed a writ petition filed against the order passed by the Employees Provident Fund Appellate Tribunal holding that the provisions of the Employees Provident Fund and Miscellaneous Provisions Act, 1952 have to be interpreted\u00a0only\u00a0in the favour of employees. An order was issued against the petitioner\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":226574,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/05\/interest-rates-on-employee-provident-fund-has-been-reduced-to-8-05\/","url_meta":{"origin":218782,"position":3},"title":"Interest rates on Employee Provident Fund has been reduced to 8.05%","author":"Bhumika Indulia","date":"March 5, 2020","format":false,"excerpt":"As reported by media, Employees' Provident Fund Organisation (EPFO) will pay interest at the rate of 8.5 per cent for the current financial year. This is lower than the 8.65% interest rate given on employees' provident fund (EPF) deposits for the previous financial year 2018-19. Central Board of Trustees (CBT)\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":262369,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/02\/25\/default-delay-in-payment-of-epf-by-employer-mens-rea-or-actus-reus-not-an-essential-element-for-imposing-civil-penalty-damages\/","url_meta":{"origin":218782,"position":4},"title":"Default\/Delay in payment of EPF by employer: Mens rea or actus reus not an essential element for imposing civil penalty\/damages","author":"Prachi Bhardwaj","date":"February 25, 2022","format":false,"excerpt":"Supreme Court: The bench of Ajay Rastogi and Abhay S. 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