EPFO 2024 Updates: New Interest & Damage Rates Explained | Old vs New Penalty Structure
"In this video, we break down the latest EPFO (Employees' Provident Fund Organisation) updates as of June 2024. We explain the new interest and damage rates for delayed EPF contributions and how they compare to the old rates.
Learn about the flat 1% per month penalty for late payments, understand how it differs from the previous variable rates, and find out how these changes could impact employers. Whether you're an employer or an employee, staying informed about these updates is crucial to avoid penalties.
📊 *Key Points Covered:*
Old vs New EPFO Damage Rate Table
Interest Rate on Delayed EPF Contributions
How to Calculate Penalties
Impact of New EPFO Rules on Employers
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