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Last Updated : May 13, 2020 11:20 PM IST | Source: Moneycontrol.com

FM Nirmala Sitharaman press meet: Government extends EPF support by 3 months

The government will take up PF for firms with 100 staff, earning less than Rs 15,000.

The government has extended support under the Employee's Provident Fund (EPF) scheme by another three months.

The fresh liquidity support amounts to Rs 2,500 crore and will be beneficial for over 70 lakh employees,  Finance Minister Nirmala Sitharaman said.

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The government will take up PF for firms with 100 staff, earning less than Rs 15,000, as announced earlier under the Pradhan Mantri Garib Kalyan Scheme.

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This support, earlier provided till the end of May, will now continue till the end of August.

The statutory PF contribution has also been reduced from 12 percent to 10 percent. For state PSUs, government will continue to pay 12 percent while govt staff pays 10 percent.

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First Published on May 13, 2020 05:14 pm
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