PFRDA proposes cos, state govts should allocate 14% for pension

The Pension Fund Regulatory Development Authority has requested the Central Board of Direct Taxes to allow companies  and state governments  to allocate 14% for employees pension fund scheme, similar to the revision made  for central government employees to14% from 10% in April.

The employee contribution towards the pension fund remains at 10%, hence adding up to a total of 24%.

Source: THE TIMES OF INDIA, MONDAY JUNE 3, 2019, PAGE 13