EPF Account Number Contribution Rate: Many of the employee and employer’s(especially new to this field ) may not be aware of the EPF Account Number Contribution Rate. Here in this post, we’ll discuss the account numbers and usage of these accounts while depositing the EPF challan on the Unified portal. Generally, the employee knows that his/her 12% is deducting and 12% is paid by his company or the employer. But in actual total 25% of the PF is deposited and bifurcations of those accounts are given below.
EPF ACCOUNT NUMBER CONTRIBUTION RATE:
THE EPF Account Number Contribution Rate Chart
|A/C – 1||A/C – 2||A/C – 10||A/C – 21||A/C – 22|
|PF Share (EE+ER)||Pension Share (ER)||Admin (ER)||EDLI (ER)||Admin (ER)|
EPFO ACCOUNT 1 (EE-A/C-1)
This account belongs to the employee share. Total 15.67% of the contribution goes to account-1. Containing 12%+3.67% of the pension fund. If, employee wanted to withdraw partially this money. He/she can apply for of Online EPF Advance through the Online portal or through Ummang App. There are various reasons to withdraw partial PF.
EPFO ACCOUNT 2 (ER-A/C-2)
During the online EPF challan submission by the employer, the Pension fund contributed by the bye employer (8.33%) goes into this account.
EPFO ACCOUNT 10 (ER-A/C-10):
Administration charges go into this account. Total contribution paid by the employee is 12 % and 12+1=13% is contributed by the employer. This 0.5% is paid to EPFO as an administration charge for maintenance and providing their online/offline/SMS etc services charges.
EPFO ACCOUNT 21 (ER-A/C-21):
EDLI (Employee deposited linked Insurance) is a kind of insurance policy for the employees of the employer. The total percentage of the amount goes to this account is 0.5 % and this 0.5% of the contribution is being paid by the employer. Earlier this contribution was 0.85 % than reduced to 0.65% and now from 01-06-2018, the EDLI charges are 0.5%.
The main reason to reduce this amount from 0.85 to 0.50 is that of the online services provided by the EPFO. A lot of offline or per work has been reduced i.e why this was reduced to 0.5%.
ADMIN CHARGES(0.1)– NOW NOT DEDUCTING
Administration charges were 0.1%. Now, these administration charges are not being deducted by the EPFO from the employer. The main reason for this is maybe the online work adopted by the EPFO department and due to the online services, the manual work and long lasting waiting lists work has been reduced. Now EPFO department is also delivering the online services like EPF Advance form, Death cases settlements within a week or Claim settlements within 10 days.
EPFO IS DOING A GREAT WORK BY PROVIDING SERVICES ONLINE THROUGH EPF MEMBER PORTAL OR THROUGH UMANG APP
EE- EE means Employee share. This percentage of the amount will be bearded by Employee himself.
ER- ER means Employer share. These percentages of the amount will be paid to the EPFO by the Employer.
This is we have in this post of EPF Account Number Contribution Rate. I hope this will give you the clear vision of the accounts and can help you in future