{"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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