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EPFO Slashes Admin Charges to 0.5%, to result in Savings of Rs. 9 bn a Year
May 29, 2018
The trustees of Employees’ Provident Fund Organization (EPFO) have lowered the administrative charges from the current 0.65% to 0.50, a move that’s expected to help more than 500,000 employers save circa Rs. 9 billion every year.
The decision to slash the administrative charges was taken during an EPFO meeting held in February. However, it’s now that they are finally implementing the change by bringing the rate to 0.5% on June 1, 2018.
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