Cabinet approves extension of EPF contribution for another 3 months

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TNI Bureau:  Good news for Employees’ Provident Fund Organisation subscribers as Government of India on Wednesday approved the extension of EPF contribution for another three months.

The Union Cabinet today has given its approval for extension of EPF contribution 24% (12% employees share and 12% employers share) from June to August 2020 under Pradhan Mantri Garib Kalyan Yojana/Aatmanirbhar Bharat.

The total estimated expenditure is of Rs.4,860 crore. This move will benefit over 72 lakh employees, Union Minister Prakash Javadekar said.

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The decision will give further relief to small businesses who are facing cash crunch during Covid-19 pandemic.

The Cabinet also approved extension of benefits of “Pradhan Mantri Garib Kalyan Yojana” for Ujjwala beneficiaries by 3 months.

It has also approved the further extension of Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for another five months from July to November 2020.

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