February 2019 came up with Surprises for employees, earlier Finance Minster in Budget give tax rebate till the 5 lac. Now ESI (Employee State Insurance) and PF (Provident Fund) also give good news to their subscribers.
ESI (Employee State Insurance) Contribution Rate Revised 2019
First From ESI (Employee State Insurance) : Ministry of Labour and Employment, Govt. of India has notified the draft revised/ reduced rates of ESI Contribution in respect of Employer Contribution (existing rate 4.75% – proposed rate 4%) and Employee Contribution (existing rate 1.75% – proposed rate 1%).
PF Interest Rate for the year 2018-19 Increased
Second From PF (Provident Fund): Central Board of Trustees of the Employees’ Provident Fund Organisation (EPFO) on 21st February 2019 announced PF interest rate for the year 2018-19 is 8.65 percent on Contribution deposited in EPF for 2018-19, to its six crore subscribers.
Earlier for 2017-2018 pf interest rate was 8.55 percent.