Hi,
Someone told me that the provident fund admin charges for a/c no. 2 have been reduced from 1.10% to 0.85%. Additionally, for a/c no. 22, the rate has been adjusted from 0.01% to a minimum of 200/-.
Please find the attachment and kindly provide clarity on this matter. Could you confirm from which month these changes are applicable? If there are any modifications to the PF percentages for challan generation, please send me the updated details.
Thank you.
From India, Hyderabad
5Someone told me that the provident fund admin charges for a/c no. 2 have been reduced from 1.10% to 0.85%. Additionally, for a/c no. 22, the rate has been adjusted from 0.01% to a minimum of 200/-.
Please find the attachment and kindly provide clarity on this matter. Could you confirm from which month these changes are applicable? If there are any modifications to the PF percentages for challan generation, please send me the updated details.
Thank you.
From India, Hyderabad
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Hi, notification is very clear; it says it will be applicable with effect from 1 Jan 15. The notification also clarifies that:
1) 0.85% admin charges will be levied on basic wages for functional establishments having contributory members.
2) However, the minimum admin charges payable would be 500 per month.
3) In the case of non-functional establishments, the applicable charge is 75 per month.
4) The other part of the notification mentions admin charges on EDLI as:
A) 0.01% on basic wages for functional establishments.
B) However, the minimum admin charges on EDLI are to be Rs 200 for functional establishments.
C) For non-functional establishments, it will be a minimum of Rs 25 per month to be paid.
From India, Vadodara
1) 0.85% admin charges will be levied on basic wages for functional establishments having contributory members.
2) However, the minimum admin charges payable would be 500 per month.
3) In the case of non-functional establishments, the applicable charge is 75 per month.
4) The other part of the notification mentions admin charges on EDLI as:
A) 0.01% on basic wages for functional establishments.
B) However, the minimum admin charges on EDLI are to be Rs 200 for functional establishments.
C) For non-functional establishments, it will be a minimum of Rs 25 per month to be paid.
From India, Vadodara
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Reduction of PF Admin Charges.pdf