BRAND-NEW DELHI: The government on Monday decreased the statutory contribution by both staff member and company to the Staff members’ Provident Fund (EPF) to 10?ch of the employee’s monthly salary from the existing 12%for the next three months. This will supply liquidity of about Rs 2,250 crore monthly.
While the relocation would generate some more instant money in the hands of the employee, however it will likewise deny her from earning an excellent return of 8.5%post-tax from EPF, which is comparable to 12.14%for an individual with income taxable in the 30%tax bracket, to 10.6%for those in the 20%bracket, 9.4%in the 10%bracket and around 9
