WebMar 28, 2024 · The Centre approved a rate of 8.1% on EPF deposits for the year 2024-22, on June 3, 2024. In March 2024, the EPFO had proposed to cut the interest rate on provident fund deposits from 8.5% to 8.1% for 2024-22. This is the lowest PF interest rate in the past four decades. In 1977-70, the EPFO offered 8% interest on EPF contributions.
EPF vs EPS - Know How it Works & Difference - BankBazaar
WebJan 20, 2024 · One-third of the employer’s contribution to the scheme i.e. 3.67% goes to the EPF. And the large chunk i.e 8.33% goes to the EPS. But, for the purpose of calculating the EPS contribution, the rules require that the salary itself should be capped at Rs. 15,000. Let us understand this with an example. WebThe employee and the employer each contribute 12% of the employee's basic salary and Dearness Allowance (DA) towards the scheme. While the entire contribution of the employee goes towards EPF, only 3.67% of the employer's share goes towards EPF, while the remaining is contributed towards EPS. dickies relaxed fit painters pants
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