Employees can put more than 10% in PF: Govt

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Employees can put more than 10% in PF: Govt

May 20, 2020 12:17 IST

The labour ministry on Tuesday said employees can contribute more than the newly set limit of 10% of basic wages to their provident fund for the next three months, but employers don't need to match the higher contribution. Last week, Finance minister Nirmala Sitharaman had announced the reduction of statutory provident fund contribution to 10% of basic wages from 12%, in a bid to increase the in-hand salary of 4.3 crore provident fund subscribers.

Economy