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Announcement: India COVID19: EPF Contribution Rate reduction patches are now available.
Patches for India COVID19 Relief: EPF Contribution Rate reduction to 10% for May, June, July 2020 are now available.
Patch Information
Release 12.1 - Patch 31373064:R12.PAY.B
Release 12.2 - Patch 31373064:R12.PAY.C
Please note that the post-install steps detailed in the patch README are required.
Patch Details
The EPF contribution rates are modified for the periods of May, June, and July 2020 as per the government directive.
The employee PF contribution rate is reduced to 10% for all the employers.
The employer PF contribution rate is reduced to 10% for the employers with employer classification as follows under the income tax information of the GRE/Legal Entity: