Union Govt Approves 3-Month Extension Of EPF Assistance, From June To August

New Delhi: The Union government announced a three-month extension of Employees’ Provident Fund (EPF) contribution of 24% (12% employees’ share and 12% employers’ share) from June to August under Pradhan Mantri Garib Kalyan Yojana (PMGKY)/Aatmanirbhar Bharat.

The decision, taken after a Cabinet meeting, means that the government will continue to pay the EPF contribution for both employees and employers till August 2020.

This will amount to an estimated expenditure of Rs 4,860 crore for the government and will benefit over 72 lakh employees.

In March, the government had announced EPF assistance for organisations having up to 100 employees and 90 per cent of the employees drawing wage up to Rs 15,000 per month.