The Union Cabinet on Wednesday approved a proposal to extend the scheme for the payment of employers and employees' PF contributions for three months until August.
"Cabinet has approved the extension of the scheme where the government pays contributions of employees and employers till August," Union Minister Prakash Javadekar told reporters after the Cabinet meeting on Wednesday. Under the Pradhan Mantri Garib Kalyan Package, the payment of 12 per cent of employer and 12 per cent employee contribution was made into EPF accounts.
For the wage months of June, July and August, 2020, the scheme will cover all the establishments having up to 100 employees and 90 per cent of such employees earning less than Rs 15,000 monthly wage. The Union Cabinet chaired by the Prime Minister Narendra Modi today has given its approval for extending the contribution both 12 per cent employees' share and 12 per cent employers' share under Employees Provident Fund.