EPF Approved For Businesses With Ten Or More Employees

In a significant decision, government has approved the proposal for bringing businesses with ten or more employees under the realm of Employee's Provident Fund (EPF). Earlier, the limit was of twenty or more workers. There has been no decision on revising the rate of interest of the EPF corpus fund for the year 2008-09. Under the new decision, any business with ten or more employees will have to deduct EPF and make a matching contribution.