What are EPF, EPS, EDLI and Administrative Charges and Other Charges?
A/C No’s mentioned are for remittance purpose. An employer is supposed to collect 12% of the gross salary as employee’s contribution and a similar amount is to be contributed by the employer. The employer’s contribution of 12% is to be divided into 8.33% and 3.67% and the same are deposited in A/C No 10 and A/C No 01 respectively. The employee’s share of 12% is also deposited in account No. 01. The account No. 01 represents Provident Fund and Account No. 10 represents Pension Fund. Besides these, employer has to deposit 1.1% of the total salary bill (of the eligible employees) to Account No. 02 as Administrative charges, 0.5% of the salary to A/C No. 21 towards Employees Deposit Linked Insurance [EDLI] and 0.01% towards administrative charges of EDLI to A/C No. 22. Deposit to A/C No’s 02, 21 and 22 are to be made by employer alone and the sum cannot be recovered from the salary of employees. Inspection Charges: In respect of exempted establishment under P.F. Scheme employer is liable t
