Govt to pay 8.33% PF for income up to ₹15k
The government will pay 8.33% out of the 12% provident fund (PF) for employees in the organised sector having monthly earnings up to ₹15,000 and will start working from 2016-17 financial year, Finance Minister said in the budget today. This will be applicable for the first three years of their employment. Further, ₹1,000 crore has been allocated for the initiative.