New Delhi: The Employees’ Provident Fund Organization reiterates that employers who default on contributions are liable to pay damages and interest on the amount due under sections 14B and 7Q of the EPFO Act. This compensation and interest is payable to EPFO. Employers should ensure timely payment of EPF dues to avoid loss and interest.
However, it is noted that these damages are limited to 100% of the outstanding amount. But simple interest at the rate of 12% per annum is payable on the amount due for the entire period of delay.
period of default | rate of change (per year) |
less than 2 months | 5% |
2-4 months | 10% |
4-6 months | 15% |
more than 6 months | 25% |
Employees’ Provident Fund Organization (EPFO) is a statutory body which assists the Central Board in administering Compulsory Contributory Provident Fund Scheme, Pension Scheme and Insurance Scheme for the employees engaged in the organized sector in India.
Employers who default on contribution are liable to pay damages and interest on the amount due.#AmritMahotsav #EPFO #PF @PMOIndia @byadavbjp @Rameswar_Teli @labor Ministry @mygovindia @PIB_India @MIB_India @AmritMahotsav pic.twitter.com/19ZLL5ohA2
– EPFO (@socialepfo) February 17, 2023
EPFO allows anytime submission of life certificate for EPS’95 subscribers
Employees’ Provident Fund Organization (EPFO) has announced that EPS’95 pensioners will be allowed to submit their life certificate at any time, which will be valid for one year from the effective date of submission. This will ensure ease of living for the pensioners.
Subscribers can submit Life Certificate at these places:
Nearest EPFO Office
Indian Post Office
Umang App
general community center
Pension Disbursement Bank
A pensioner can visit these above mentioned places to get his life certificate made without any hassle.
The documents you will need during the submission can be:
ppo number
aadhaar number
Mobile number linked with Aadhaar
bank account details