Can someone explain me about parts of employers share in PF?
Hey Guys, I wanted to understand the parts of employer’s contribution.
What is "Pension Contribution" means?
Is this calculated on some percent basis?
Is any change happened recently on calculation of this? As from October 2014 it suddeny started going more than double amount than earlier as part of "Pension Contribution" in my pf account.
The PF contribution is 12% of Basic salary from both employee and employer.
12% of Employee Share towards PF
8.33% of Employee Share as Family Pension Funds
3.67% of Employer Share for EPF
EPF= Employee (12% of salary + DA) + Employer (12% + DA)