Epf Contribution Rate 2019 20 In Excel
The latest contribution rate for employees and employers effective january 2019 salary wage can be referred in the third schedule epf act 1991 click to download.
Epf contribution rate 2019 20 in excel. If the maximum wage ceiling is rs 15 000 contributions are mandatory. Employers are required to remit epf contributions based on this schedule. Employee contribution epf 12 20000 2400 employer contribution eps 8 33 15000 1250 difference 2400 1250 1150 total employer pf 1250 1150 2400 note even if pf is calculated at higher amount for eps we will take 15000 limit only remaining amount wil go to difference. To pay contribution on higher wages a joint request from employee and employer is required para 26 6 of epf scheme.
For the financial year 2019 2020 the pre fixed rate of interest offered by the epf scheme is 8 55. If the employer pays a higher amount the employer does not have to pay a higher rate as well. A c 2 a c 10 a c 21 and a c 22. Here you can find the epf ecr calculation sheet with formulas for the year 2019.
Epf challan consists of total wages of employees and account numbers like a c 1. Under epf the contributions are payable on maximum wage ceiling of rs. The latest epf interest rate is 8 50 for the financial year 2019 20. Contribution for epf.
Download ecr file format in excel format. This rate changes according to decisions made by epfo. Pf contribution rate 2020 account wise. Epf ecr file also known as the pf calculation sheet which is used to create epf contributions text file and it is further used to create monthly epf challans.
As an employee we would like to know how much provident fund has been accumulated during the years of service. The epf receives and manages retirement savings for all its members encompassing mandatory contributions by employees of the private and non pensionable public sectors as well as voluntary contributions by those in the informal sector. Monthly contribution rate third schedule the latest contribution rate for employees and employers effective january 2019 salary wage can be referred in thethird schedule epf act 1991 employers are required to remit epf contributions based on this schedule.