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Budget 2018: Women’s Contribution to EPF Slashed to 8%
February 05, 2018
In a bid to increase the take-home pay for the women as well as to encourage their participation in the workforce, finance minister Arun Jaitley announced that women employees will have to pay only 8% of their salary compared to the current 12% for the Employee Provident Funds (EPF).
Jaitley also said that for the next three years, the government will contribute 12% of the wages of the new employees which is usually provided by the employers. Thus, it will reduce the financial burden on the companies when hiring new workers.
