EPFO withdraws five-day grace period for #PF contribution
Remitting the contribution of provident fund within the 15th of every month has been made mandatory by Employees Provident Fund Organisation (EPFO).
“The provision of grace period of five days has been withdrawn with effect from February 2016. As such employers/companies will have to remit the provident fund contribution within 15th of every month, (January contribution payable by February 15) to avoid penalty,” M. Ravi, Assistant Provident Fund Commissioner, Ballari Sub-Regional Office, told presspersons on Monday.
He also informed that remitting the contribution through online (#NEFT) has also been made compulsory and appealed to the companies/employees to adhere to it with immediate effect.
Mr. Ravi informed that these were some of the new initiatives of EPFO as part of the ongoing Digital India programme. He said that Universal Account Number (#UAN) has been made compulsory for withdrawal of provident fund dues and redressal of grievances.
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