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AATMANIRBHAR BHARAT: Cabinet approves proposal to extend EPF Contribution 24% for another 3 months from June to Aug 2020

Cabinet - EPF - Taxscan

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has given its approval for extending the contribution both 12% employees’ share and 12% employers’ share under Employees Provident Fund(EPF), totaling 24% for another 3 months from June to August 2020, as part of the package announced by the Government under Pradhan Mantri Garib Kalyan Yojana (PMGKY)/ Aatmanirbhar Bharat in the light of COVID-19, a Pandemic.

This approval is in addition to the existing scheme for the wage months of March to May 2020 approved on 15.04.2020.  The total estimated expenditure is of Rs.4,860 crore.  Over 72 lakh employees in 3.67 lakh establishments will be benefitted.

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