Employees’ Provident Fund Organisation (EPFO) has informed that there will be no penalty for delayed deposit while maintaining that due to the prolonged lockdown and other disruptions due to the pandemic.
A press release issued by regional PF commissioner, P. Hangsing stated that considering the difficulty faced by the establishments in timely deposit of contributions or administrative charges, it was decided that such delays due to operational or economic reasons shall not be treated as default and penal damages should not be levied for such delay.
The release also stated that circular dated May 15 has been issued to field offices of EPFO containing instructions to the effect that no proceeding shall be initiated for levy of penal damages in such cases which is available under TAV “COVID-19” on home page of EPFO website.
Further, the mentioned step shall ease the compliance norms for 6.5 lakhs EPF covered establishments and save them from liability on account of penal damages.
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