Dear All,
Effective from May 1, 2015, EPFO is contemplating making the payment of challans mandatory through internet banking mode.
Given below is a text of an email by EPFO to Employers for your kind reference.
"Dear Employer,
As the financial year 2014-15 is coming to a close, let me place on record appreciation for the tremendous help extended by you in making the system of social security more transparent, efficient, and accountable. Many times during the year, we have sought your assistance and help in updating the database of EPFO, which you have extended willingly and with a lot of enthusiasm. I am sure that all such efforts made by you will, in the future, not only make EPFO a more efficient organization but shall reduce your cost of compliance to the Social Security Act.
You are aware that from August 2014, the payment of challans can be made electronically through internet banking. You will be happy to note that this new facility has received a tremendous response from employers, and more than 40% of the monthly contributions are being received through internet banking.
In order to further reduce your mandatory interface with the EPF office/bank and to improve the ease of doing business in India, EPFO is contemplating making the payment of challans mandatory through internet banking mode. It is to inform you that w.e.f. 01-05-2015, i.e. the payment of the 1st month of the next financial year will be received only through internet banking mode.
Should there be any clarification needed, it should be addressed to RPFC(F&A) (rc.fa@epfindia.gov.in) through email.
(Sanjay Kumar)
FA & CAO"
It is, therefore, advised to have internet banking facilities by all employers. Now the question is, how many employers can initiate this facility by May 2015?
From India, Mumbai
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2636Effective from May 1, 2015, EPFO is contemplating making the payment of challans mandatory through internet banking mode.
Given below is a text of an email by EPFO to Employers for your kind reference.
"Dear Employer,
As the financial year 2014-15 is coming to a close, let me place on record appreciation for the tremendous help extended by you in making the system of social security more transparent, efficient, and accountable. Many times during the year, we have sought your assistance and help in updating the database of EPFO, which you have extended willingly and with a lot of enthusiasm. I am sure that all such efforts made by you will, in the future, not only make EPFO a more efficient organization but shall reduce your cost of compliance to the Social Security Act.
You are aware that from August 2014, the payment of challans can be made electronically through internet banking. You will be happy to note that this new facility has received a tremendous response from employers, and more than 40% of the monthly contributions are being received through internet banking.
In order to further reduce your mandatory interface with the EPF office/bank and to improve the ease of doing business in India, EPFO is contemplating making the payment of challans mandatory through internet banking mode. It is to inform you that w.e.f. 01-05-2015, i.e. the payment of the 1st month of the next financial year will be received only through internet banking mode.
Should there be any clarification needed, it should be addressed to RPFC(F&A) (rc.fa@epfindia.gov.in) through email.
(Sanjay Kumar)
FA & CAO"
It is, therefore, advised to have internet banking facilities by all employers. Now the question is, how many employers can initiate this facility by May 2015?
From India, Mumbai
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Refer EPFO Circular dtd. 22nd June 15 Regarding Mandatory Deposit of Contribution through Internet Banking
From India, Pune
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From India, Pune
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Dear,
I have some doubts. The EPFO confirms the ePay after 3 or 4 days from the date of deposit. There is no circular from EPFO specifying the accepted date. Is it the bank ePayment date or the PF confirmation date? Secondly, who enjoys the 3-4 days' duration of the deposited amount, the bank, or EPFO?
Regards,
Shitala Singh
From India, Delhi
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I have some doubts. The EPFO confirms the ePay after 3 or 4 days from the date of deposit. There is no circular from EPFO specifying the accepted date. Is it the bank ePayment date or the PF confirmation date? Secondly, who enjoys the 3-4 days' duration of the deposited amount, the bank, or EPFO?
Regards,
Shitala Singh
From India, Delhi
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(Fact Check Failed/Partial)-The user reply contains inaccuracies. EPFO requires e-payments to be made through internet banking, not after 3-4 days. Confirmations may vary, refer to EPFO guidelines for clarity.
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Shitala I think PF contribution payment due date is 15th of every month. Please refer attach another circular for extension given by EPFO for payment through net banking. Regards Sanjay Pawar
From India, Pune
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From India, Pune
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(Fact Check Failed/Partial)-The user's reply is incorrect. The PF contribution payment due date is not on the 15th of every month as mentioned. The original post indicates that EPFO is contemplating making payment of challans mandatory through internet banking mode starting from May 1, 2015, for the 1st month of the next financial year.
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Hello, I have old circular available for your kind reference.
From India, Pune
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From India, Pune
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(Fact Check Failed/Partial)-The user reply is not correct as it does not provide any specific information or details related to the EPFO circular mentioned in the original post.
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From India, Delhi
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(Fact Checked)-[The PF contribution due date is the 15th of every month, as per EPFO rules. The user's concern about the delay in confirmation is valid and should be addressed with EPFO directly for clarity.] (1 Acknowledge point)
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Sanjay Ji, I agree with you. But the question is, does the PF authority confirm the date after 3 or 4 days? The PF authority has not provided any clarification regarding this. Where we deposit approximately 60 lakh per month, who enjoys that amount, and why?
From India, Delhi
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From India, Delhi
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(Fact Check Failed/Partial)-The user's reply is not directly related to the original post about EPFO making payment of challans mandatory through internet banking. The reply seems to raise concerns about delay in payment confirmations by PF authorities.
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EPF contribution up to Rs 100,000/- can still be paid by cheque/DD. This concession is valid until 01 Sep 2015. This is a good step by the Government of India. There is no question of the challan being misplaced or mixed up. All electronic records will leave a trail for audit.
From India, Pune
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From India, Pune
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(Fact Check Failed/Partial)-The user reply is incorrect. The EPFO circular mentioned making payment of challans mandatory through internet banking mode effective from May 1, 2015. The concession for EPF contribution via cheque/DD up to Rs. 100,000 until September 1, 2015, is not mentioned in the circular. Reference: EPFO circular dated May 1, 2015. Labor laws and EPFO guidelines. Supreme Court judgment on EPF payment modes.
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Mandatory submission of bank account details of PF members 17.9.2014.pdf
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(Fact Check Failed/Partial)-The user's reply is incorrect. The original post mentions that EPFO was contemplating making payment of challans mandatory through internet banking mode effective from May 1, 2015, not June 22, 2015 as stated in the user's reply.