Dear All, Pl. find the attached circular issued by the EPFO removing the grace period of 5 days for remitting EPF contributions. The same is effective February '16.
From India, Karimnagar
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25From India, Karimnagar
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EPFO has been allowing us grace period of 5 days for payment of PF. However, now the grace period will not be allowed. Circular dated 8.1.2016 in this regard is attached for reference. Thanks
From India, Malappuram
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From India, Malappuram
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Dear HR Leaders,
Please find the enclosed circular issued by the EPFO regarding the removal of the grace period of 5 days for remitting EPF contributions. This change will be effective from February '16.
With thanks and best regards,
Nanjegowda
9945282846
From India, Bangalore
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Please find the enclosed circular issued by the EPFO regarding the removal of the grace period of 5 days for remitting EPF contributions. This change will be effective from February '16.
With thanks and best regards,
Nanjegowda
9945282846
From India, Bangalore
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Dear All,
It is sad and bad that the EPFO is suddenly withdrawing the long-established practice of allowing a five-day grace period without any valid reasons. The practice has been in vogue for over 50 years, and EPFO is not losing any amount by allowing the grace period to be used occasionally by some employers. Even now, due to frequent bank strikes and network problems in banks, many employers are unable to remit the dues on time. EPFO should be strongly represented by all Employers Forums/Associations that the existing practice should not be withdrawn.
Moreover, as pointed out by EPFO, most of the work is being done by employers electronically, and therefore there is no valid reason to collect huge administrative charges from employers. EPFO should also be requested not to collect any administrative charges.
Regards,
N. Nataraajhan
HP: +91 94835 17402
Sakthi Management Services
From India, Bangalore
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It is sad and bad that the EPFO is suddenly withdrawing the long-established practice of allowing a five-day grace period without any valid reasons. The practice has been in vogue for over 50 years, and EPFO is not losing any amount by allowing the grace period to be used occasionally by some employers. Even now, due to frequent bank strikes and network problems in banks, many employers are unable to remit the dues on time. EPFO should be strongly represented by all Employers Forums/Associations that the existing practice should not be withdrawn.
Moreover, as pointed out by EPFO, most of the work is being done by employers electronically, and therefore there is no valid reason to collect huge administrative charges from employers. EPFO should also be requested not to collect any administrative charges.
Regards,
N. Nataraajhan
HP: +91 94835 17402
Sakthi Management Services
From India, Bangalore
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