[Contributing Authors: Oracle Asia Pacific Payroll Development]
India EPF Contribution Rate reduction to 10% for May, June, July 2020
The EPF contribution rates are modified for the periods of May, June, and July 2020 as per the government directive.
The Fast Formula IN_PF_CALCULATION has been modified to fulfill this requirement.
Release 12.1 - Patch 31373064:R12.PAY.B
Release 12.2 - Patch 31373064:R12.PAY.C
Mandatory Pre-requisite Patches
R12.HR_PF.B.Delta.12 and R12.HR_PF.C.Delta.13 are the lowest level of HRMS Release Update Pack (RUP) on which India Payroll customers are supported for statutory updates effective from April 2020.
If you experience any issues with this patch, please log a Service Request on My Oracle Support, product: Oracle HRMS (India)
Stay safe & Eid Mubarak!