Union Cabinet Approves Extension of EPF Support till August 2020
New Delhi: Giving liquidity relief to 3.67 lakh establishments and 72.22 lakh employees, the Government of India has extended the EPF support till August 2020. This was approved on Wednesday in Union Cabinet meeting headed by Prime Minister Narendra Modi.
It means that the extension of contribution both 12% employees’ share and 12% employers’ share under Employees Provident Fund, totalling 24% for another 3 months from June to August, 2020, as part of the package announced by the Government under Pradhan Mantri Garib Kalyan Yojana (PMGKY)/ Aatmanirbhar Bharat in the light of COVID-19.
Union cabinet minister Prakash Javadekar said in the press briefing that the decision has been taken to facilitate more take-home salary for employees and give relief to employers in payment of PF dues.
