Answer for Changes in Administration on P.F. w.e.f. 1st january, 2015

As per the notification no. WSU/4(2)97/Administrative Charges, dated on 02.03.2015 the rate of Administrative Charges  has been reduced to 0.85% from 1.10% of the pay w.e.f. 1st January,2015. Here pay means Basic Wages + DA + Cash Value Of Food Concession. But department has given a limit for A/C 2 (Admin Charges On PF) And A/C No 22 (Admin Charges On EDLI). 
Before Amendment
A/C No 2 :      Admin Charges On PF : 1.10% Of Basic Wages + DA + Cash Value Of Food Concession
A/C No 22 : Admin Charges On EDLI : 0.01% Of Basic Wages + DA + Cash Value Of Food Concession

After Amendment
A/C No 2 :   0.85% Subject To Minimum Rs.500
A/C No 22:  0.01% Subject To Minimum Rs.200
Now, lets look at the final figure of Charges to be paid for PF: having pay of Rs. 15000 p.m.
Employer Contribution : 8.37% to PF, 3.67% to Pension Fund, 0.85% PF Admin Charges, 0.5% EDLI Contribution and 0.01% EDLI Admin Charges.
Employee Contribution: 12% of the pay.

Published by

Shushant mallik ( Chartered Accountant & Cost Accountant )

Shushant is a Chartered Accountant and a Cost Accountant. He has secured All India Rank-34 in CMA Final Exams. He is a Financial Controller at Mount Meru Soyco Limited, Rwanda. He is a administrator of this site . In his spare time he hang out with his friends and discuss about the current issues in market. You can find his latest blog posts at www.enrollmyexperience.com and at his facebook profile.