Govt declares 12% EPF in wages of new employees across sectors

New Delhi, Feb 1 The government announced a commitment of 12 percent in Employees' Provident Fund (EPF) in new work over all parts, Union Finance Minister Arun Jaitley said on Thursday.

"About 70 lakh formal jobs have been made for this present year. The legislature will contribute 8.33 percent to EPF for new representatives for a long time and 12 percent EPF in divisions utilizing an expansive number of individuals. The office of settled term work will be expanded," he said while exhibiting the Union Budget in Parliament.

Besides, Jaitley stated that the government has recognized 372 specific business change activities to enhance the Ease of Doing Business, including that the assessment of execution under this program will be based on user feedback.