In continuation to what we reported earlier (please refer to e-mail in trail), the Employees Provident Fund Organization (“EPFO”) has issued a Circular directed to officers authorized to recover damages on defaults in payment of any contribution to the Employees’ Pension Fund. It is clarified that damages on defaults made up to 13th June, 2024 in the payment of contributions, charges payable, transfer of accumulations under the Act or Scheme framed thereunder are to be levied and recovered in accordance with the then prevailing provisions.
It is further informed that the IS Division has been requested to incorporate necessary changes in the MIS & Application Software to implement the rates of damages effective from 14th June, 2024.
A copy of the Circular is attached herewith for your ease of reference.
Source: Employees Provident Fund Organization
