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Contribution

CONTRIBUTION OF EMPLOYERS

Rates For Contribution A) The Employees' Provident Fund Scheme In respect of establishments employing 20 or more persons and engaged in industry notified under Section 6 of Act ( other than the Establishments. declared as sick ) 12% of the basic pay DA , Cash value of food concession and retaining allowance , if any, subject to a maximum of Rs.15000/- per month. Voluntary higher contributions are also acceptable at the joint request of the member and the employer . However, the rate of contribution is 10% in respect of the following categories of establishments:

  • Any establishment covered prior to 22.9.97 in which less than 20 persons are employed.
  • Any sick industrial company as defined in Clause(0) of Sub-Section(1) of Section 3 of the sick industrial companies ( special provisions ) Act 1985 and which has been declared as such by the Board for Industrial and Financial Reconstruction.
  • Any Establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth.
  • Any Establishment engaged in manufacturing of (a) Jute , (b) Beedi , (c) Brick , (d) Coir (other than spinning sector), (e) Guar Gum Industries/Factories.
  • B) The Employees' Pension Scheme From and out of employer's share of Provident Fund contributions 8.33% of the total wages limited to Rs. 15000/- per month is segregated and credited to the Employees' Pension Fund in A/C No. 10 ( w.e.f. 01-09-2014 ).

    The Central Government also would contribute at the rate of 1.1 / 6% of total wages.

    C) Employees' Deposit Linked Insurance Scheme: No amount is recovered from employee's wages . Employer should pay 0.5% of total wages subject to a ceiling of Rs. 15000/- per month ( w.e.f. 01-09-2014).

     

 

EPFO Mangalore