Advocacy - Achievements

Economic Survey 2023-2024 recognises the growing role of Staffing Industry : Indian Staffing Federation Research

Hon'ble Finance Minister Smt Nirmala Sitharaman and Chief Economic Advisor Shri V. Anantha Nageswaran presented the Economic Survey 2023-2024 that published, 'The rising employment of flexi workers through staffing companies can be a channel for ensuring social security for informal workers, as briefed in Box VIII.4 '- page 298 (Graphs from Indian Staffing Federation Research).

ISF partnered with Ministry of Labour and Employment Job Fairs – Noida & Hyderabad

ISF worked with Ministry of Labour & Employment to discuss the respective agenda in support in organizing Job Fair

1. On the occasion of one year completion of NCS invited ISF members with their requirement of openings across Delhi/NCR, gradually expanded in others cities.

2. ISF to support in the future Job fairs as per the region and capacity of members to share jobs to facilitate.

3. Both the job fairs, witnessed huge number of job seekers exceeding 10,000 applicants. 55 companies participated including 12 ISF member companies.

ISF signed MOU with Andhra Pradesh Kapu Community Welfare (APSKWDL)

Indian Staffing Federation signed MoU with AP Kapu Community Welfare (APSKWDL) to provide employment to the youth of AP. In the initial launch a 3 day training and job fair was hosted with the support of ISF. The job fair and witnessed 12,000 job seekers, with about 1000 shortlisted for the next round of interview with the ISF member companies.

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Under this package, the statutory rate of EPF contribution of both employer and employee has been reduced to 10 percent of basic wages and dearness allowances from existing rate of 12 percent for all class of establishments covered under the EPF & MP Act, 1952.
Reduction in rate of EPF contributions from 12% to 10% of basic wages and Dearness allowances is intended to benefit both 4.3 crore employees/members and employers of 6.5 lakh establishments to tide over the immediate liquidity crisis to some extent during pandemic situation.
The reduction in statutory rate of contribution from 12% to 10% for wage months May 2020, June 2020 and July 2020 has been notified vide SO 1513(E) dated 18.0.2020 published in Gazette of India. The notification is available under the TAB-COVID-19 on the homepage of EPFO website.
The statutory rate of contribution will be 10% for wage months – May 2020, June 2020 and July 2020.
It is applicable to all class of establishments covered under the EPF & MP Act, 1952 except the establishments like Central and State Public sector enterprises or any other establishments owned or controlled of the Central govt or State govt.The reduced rate is also not applicable to establishments eligible for PMGKY benefits, since the entire employees EPF contributions (12% of wages) and employers’ EPF & EPS contribution (12% of wages), totalling 24% of the monthly wages is being contributed by the Central govt.
The reduced rate is applicable to exempted establishments also.
As a result of reduction in statutory rate of contributions from 12% to 10%, the employee shall have a higher take-home pay due to reduction in deduction from his pay on account of EPF contributions and employer shall also have his liability reduced by 2% wages of his employees. If Rs 10,000/- is monthly EPF wages, only Rs 1000/- instead of Rs 1,200/- is deducted from employee’s wages and employer pays Rs 1,000/- instead of Rs 1,200/- towards EPF contributions.
In Cost to Company (CTC) model, if Rs 10,000 is monthly EPF wages in CTC Model, the employee gets Rs 200 more directly from employer as employer’s EPF/EPS contribution is reduced and Rs 200 less is deducted from his/her wages.
Yes. Establishments covered during wage months of May-July 2020 will be eligible for reduced rate for eligible remaining period from date of coverage.
There is no change in the EPF administrative charges (0.5% of EPF wages subject to minimum prescribed) and EDLI contributions (0.5% of wages) both payable by employers.