Rates of administrative charges payable to the EPFO reduced to 0.65 per cent w.e.f 1st April, 2017.
The Central Government vide a notification dated 15th March, 2017, reduces the administrative charges which is required to be paid by an employer during payment of contributions to the Employees’ Provident Fund (“EPF”) under the Employees’ Provident Funds Scheme, 1952 (“Scheme”).
By virtue of this notification, now the employer has to pay 0.65 per cent (zero point six five per cent.) of the pay subject to a minimum sum of Rs.75/- per month for every non-functional establishment having no contributory member and Rs.500/- per month per establishment for other establishments.
Prior to this, the employer had to pay an administrative charge of 0.85% of the pay.
The notification will come into effect from 1st April, 2017.