Dear Gurumurthy ji,
The days are now over when interest and damages were assessed after getting the inspection reports from the Area Enforcement Officer of the EPFO. Now all details are available online and the department is stressing for early action towards realization of interest and damages parts and frequency of assessment is also being shortened.
P K Sharma
From India, Delhi
157The days are now over when interest and damages were assessed after getting the inspection reports from the Area Enforcement Officer of the EPFO. Now all details are available online and the department is stressing for early action towards realization of interest and damages parts and frequency of assessment is also being shortened.
P K Sharma
From India, Delhi
Dear JP12,
Greetings!
It is well understood from your posting that you were liable to coverage under the EPF&MP Act well in the month of Dec\'13 itself. But you have applied for coverage only during Mar\'14 and got establishment code during Apr\'14.
It is the responsibility of every employer to apply for coverage under EPF&MP act whenever the total employees strength crosses 20. Hence the belated payment for the earlier period invites applicable interest and penalty.
From India, Trichy
Greetings!
It is well understood from your posting that you were liable to coverage under the EPF&MP Act well in the month of Dec\'13 itself. But you have applied for coverage only during Mar\'14 and got establishment code during Apr\'14.
It is the responsibility of every employer to apply for coverage under EPF&MP act whenever the total employees strength crosses 20. Hence the belated payment for the earlier period invites applicable interest and penalty.
From India, Trichy
Thanks for your valuable suggestions. Now, do we need to visit epfo to meet with PF inspector about the payments as delay in these pending payment will again result in more penalty
From India, Hisar
From India, Hisar
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EPF ON LINE REGN. USER MANUAL.pdf