The Central Board of Trustees (CBT) of retirement fund body EPFO on Saturday turned down the proposal to reduce the mandatory contributions from workers and employers to 10 per cent. Presently, employees and employers contribute 12 per cent of basic wages each towards EPF Scheme, Employee Pension Scheme and Employee Deposit linked Insurance Scheme. “The employer, employees and the Government representatives expressed their reservations about it and they feel that it should be continued at 12 per cent.”