EPFO cuts admin charges to 0.65%

The Employees´ Provident Fund Organisation (EPFO) has decided to reduce administrative charges to 0.65 per cent of total wages of an employee from April 1,amove that will result in savings of Rs.1,000 crore annually for 600,000 employers.

The EPFO´s decisionmaking body, the Central Board of Trustees, had approved the proposal to reduce the administrative charges to 0.65 per cent from the existing 0.85 per cent of total wages.

Business Standard New Delhi,23rd March 2017

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