How changes in Employees' Provident Fund will boost your take-home salary

The government has proposed to reduce the contribution made by employees towards the Employees’ Provident Fund (EPF), in a move to increase take-home salary.

At present, 24 per cent of a worker’s basic pay is deducted — with 12 per cent each counted as employer’s and employee’s share — towards the EPF savings. This is compulsory for employees earning up to Rs 15,000 a month. All establishments employing at least 20 workers are required to pass on the PF benefits.

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