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Announcement: India COVID19 Enhancement to Override EPF Contribution Rates at GRE/Legal Entity Level
Patches for India COVID19 Enhancement to override EPF Contribution rates at GRE/Legal Entity level are now available.
Patch Information
Release 12.1 - Patch:31388420:R12.PAY.B
Release 12.2 - Patch:31388420:R12.PAY.C
Please note that the post-install steps detailed in the patch README are required.
Patch Background
The EPF contribution rates are reduced for the periods of May, June, and July 2020 as per the government directive and released via Patch:31373064. The patch was released urgently so that the statutory change can be processed in May payroll run by most of the users.
However, EPFO has published the FAQs later stating that the employers and/or employees can choose to contribute to EPFO at a higher rate as well.