Proposal to cut employee's PF contribution to 10% dismissed

The Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO) on Saturday unanimously dismissed the proposal to reduce employees and employers contribution to the EPF from 12% to 10%. CBT members also criticised the Labour Ministry's proposal to reduce it only for employers. EPF contributions are mandatory for people earning a basic salary up to ₹15,000.