Dear All,
Effective from May 1, 2015, EPFO is contemplating to make payment of challans mandatory through internet banking mode.
Given below is a text of 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 a 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 future not only make EPFO as more efficient organization but shall reduce your cost of compliance to Social Security Act.
You are aware that from August, 2014 the payment of challans can be made electronically through internet banking. You will happy to note that this new facility has received tremendous response from the employer and more than 40% of the monthly contribution is being received through internet banking.
In order to further reduce your mandatory interface with EPF office/bank and to improve the ease of doing business in India, EPFO is contemplating to make payment of challans mandatory through internet banking mode. It is to inform you that w.e.f. 01-05-2015 i.e. the payment 1st month of next financial year will be received only through internet banking mode.
Should there be any clarification, it should be addressed to RPFC(F&A) (rc.fa@epfindia.gov.in) through e-mail.
(Sanjay Kumar)
FA & CAO"
It is therefore advised to have internet banking facility by all the employers. Now the question is, how many employers can initiate this facility by May 2015?
From India, Mumbai
2556Effective from May 1, 2015, EPFO is contemplating to make payment of challans mandatory through internet banking mode.
Given below is a text of 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 a 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 future not only make EPFO as more efficient organization but shall reduce your cost of compliance to Social Security Act.
You are aware that from August, 2014 the payment of challans can be made electronically through internet banking. You will happy to note that this new facility has received tremendous response from the employer and more than 40% of the monthly contribution is being received through internet banking.
In order to further reduce your mandatory interface with EPF office/bank and to improve the ease of doing business in India, EPFO is contemplating to make payment of challans mandatory through internet banking mode. It is to inform you that w.e.f. 01-05-2015 i.e. the payment 1st month of next financial year will be received only through internet banking mode.
Should there be any clarification, it should be addressed to RPFC(F&A) (rc.fa@epfindia.gov.in) through e-mail.
(Sanjay Kumar)
FA & CAO"
It is therefore advised to have internet banking facility by all the employers. Now the question is, how many employers can initiate this facility by May 2015?
From India, Mumbai
Refer EPFO Circular dtd. 22nd June 15 Regarding Mandatory Deposit of Contribution through Internet Banking
From India, Pune
From India, Pune
Dear
I have some doubt as
The EPFO confirm the e Pay after 3 or 4 dayes date of deposit . their are no any circular from EPFO what is accept date ? bank e Payment date or PF confirmation date & 2nd qustion who are enjoy3-4 dayes the deposit amt bank / epfo.
regards
shitala singh
From India, Delhi
I have some doubt as
The EPFO confirm the e Pay after 3 or 4 dayes date of deposit . their are no any circular from EPFO what is accept date ? bank e Payment date or PF confirmation date & 2nd qustion who are enjoy3-4 dayes the deposit amt bank / epfo.
regards
shitala singh
From India, Delhi
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
From India, Pune
Sanjay Ji I
Agree with you But Question is The PF authority Confirm after 3 or 4 days date . so PF authority have no any clarification regard this. Where we deposit approx 60 lakh pm , who enjoy that amt . & why ?
From India, Delhi
Agree with you But Question is The PF authority Confirm after 3 or 4 days date . so PF authority have no any clarification regard this. Where we deposit approx 60 lakh pm , who enjoy that amt . & why ?
From India, Delhi
Sanjay Ji I
Agree with you But Question is The PF authority Confirm after 3 or 4 days date . so PF authority have no any clarification regard this. Where we deposit approx 60 lakh pm , who enjoy that amt . & why ?
From India, Delhi
Agree with you But Question is The PF authority Confirm after 3 or 4 days date . so PF authority have no any clarification regard this. Where we deposit approx 60 lakh pm , who enjoy that amt . & why ?
From India, Delhi
EPF contribution upto Rs100000/- can still be paid by cheque/DD.This concession is valid till 01Sep2015.
This is a good step by GOI.
No question of challan being misplaced or even mixed up.
All electronic records which will leave trail for audit.
From India, Pune
This is a good step by GOI.
No question of challan being misplaced or even mixed up.
All electronic records which will leave trail for audit.
From India, Pune
Amounts get credited the very next day if internet banking is used(maximum).
It is a procedural matter by EPF to confirm after 3-4 days.
Probably at the same time many NEFT/Internet banking transactions take place around same period,so some time delay takes place.
No one enjoys the money in this time gap.Credit to Government takes place by next day and it is in sarkari account.
From India, Pune
It is a procedural matter by EPF to confirm after 3-4 days.
Probably at the same time many NEFT/Internet banking transactions take place around same period,so some time delay takes place.
No one enjoys the money in this time gap.Credit to Government takes place by next day and it is in sarkari account.
From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Mandatory submission of bank account details of PF members 17.9.2014.pdf