Dear Experts,
It was announced that 12% EPF will be paid by Government for new women employer so that employment will be increased.
Does it mean, we (employer) need not to pay employer's contribution 12 %. Then only we can give more employment opportunities to new women employers. Am I right ?
For, existing women employees, we need to deduct only 8% instead of 12% EPF for 3 years from FY 2019-8-19. Am I right ??
Clarification Sought on Government's 12% EPF Contribution for New Female Employees and Reduced Rate for Existing Workers A query was raised regarding the 2018-19 budget announcement about the Employee Provident Fund (EPF) contributions for women. The government stated it would cover the 12% EPF contribution for new female employees to boost employment. The inquirer asked if this means employers are exempt from paying their 12% contribution for new female hires, thereby facilitating more employment opportunities. Additionally, for existing female employees, the query mentioned reducing their EPF deduction from 12% to 8% for three years starting from FY 2019-20. The response indicated that this interpretation might be correct pending further instructions. (AI Summary)
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