February 1, 2018 2:30 PM

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Govt to contribute 12% of the wages of the employees for all sectors for next three years

For Creating job opportunities and facilitating generation of employment, the budget has come up with several measures.<br/><br/>It will contribute 12 percent of the wages of the new employees in the EPF for all the sectors for next three years.<br/><br/>Women employees contribution in EPF reduced to 8 percent for first three years of their employment against existing rate of 12 percent or 10 percent with no change in employer's contribution. <br/><br/>The budgetary allocation for infrastructure development has also been increased to 5.97 lakh crore rupees to create jobs.

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