NO CUT IN EPF CONTRIBUTION

Minister of State for Labour Santosh Kumar Gangwar has denied any move to reduce the rate of contribution either by the employers or the employees to the Employees' Provident Fund.It continues to remain 12% of the wages for both, he said in a written reply to industrialist-turned-politician Mahesh Poddar of Jharkhand in the Rajya Sabha. He said this misgiving may have arisen from a notification in May last year that the statutor y rate of contributions had been reduced from 12% to 10% only for three months from May-July, 2020, to provide liquidity in the hands of the employers and employees due to the Covid-19 pandemic.