Employees' PF contribution can go higher than 10%, not of employers: Labour ministry

The ministry on Monday notified lower rates of provident fund contribution at 10 per cent, increasing the in-hand salary of 4.3 crore provident fund subscribers. Last week, Finance minister Nirmala Sitharaman had announced the reduction of statutory provident fund contribution by both employers and employees for the next three months to 10 per cent of basic wages from 12 per cent.

from Personal Finance News-Wealth-Economic Times https://ift.tt/2ZivVSA