EPFO gave the facility
The crisis of the Corona epidemic and the nationwide lockdown to control it have disrupted the operations of all companies at this time. Due to the stagnation of business, they are facing financial crisis and it is becoming difficult for companies to retain their employees and also to pay the statutory dues. In view of this crisis of companies, the Employees Provident Fund Organization (EPFO) is making many concessions.
Now EPFO ​​has facilitated the separation of monthly electronic-invoice less return (ECR) from payment of statutory contribution under the EPF & MP Act, 1952, easing the compliance process for companies. Now employers (companies) can file ECR even without payment and their contribution can also be paid later. This facility will facilitate all those companies and employees who are covered under this act and scheme of PF. No penalty will be levied for filling ECR only on time. With this, companies will get the benefit of 24% PF contribution for 3 months announced by the government.
Source: uvindianews.com
