EPFO cuts admin charges, employers to save ₹900 cr annually

More than five lakh employers are expected to save around ₹900 crore annually, after Employees' Provident Fund Organisation's (EPFO) decision to cut administrative charges starting June 1. The charges have been slashed to 0.50% from 0.65% of total wage paid by employers. The EPFO had collected around ₹3,800 crore as administrative charges from employers last fiscal.