Employees' Enrolment Campaign, 2017 - Amnesty Scheme for Provident Fund

About EPF:

Companies in which twenty or more persons are employed are liable to register for allotment of the PF Code number with Regional Provident Fund Commissioner. The employees whose salary is less than Rs. 15000 are to be mandatorily enrolled under EPF. The employer shall deduct the employee’s contribution from his wages and within fifteen days of the close of every month pay to the fund by separate bank drafts or cheques on account of contributions and administrative charge.

Employees’ Enrolment Campaign, 2017:

i. Companies who has not enrolled employees and deposited PF for period beginning from 01.04.2009 to 31.12.2016 can avail the scheme;

ii. This scheme is effective from 01.01.2017 till 31.03.2017;

iii. Company shall furnish Declaration Form for Employees’ Enrolment Campaign, 2017 to the Regional Provident Fund Commissioner (Online facility also available); 

iv. Company shall, within fifteen days of furnishing the declaration, remit the employer’s contribution payable in accordance with the provisions of the Scheme and the employee’s contribution deducted from the employee’s wages along with interest payable (@12% p.a) in accordance with section 7Q of the Act;

v. The following incentives are available to the employer: 

1. The employee’s share of contribution, if declared by the employer as not deducted, shall stand waived.
2. The damages to be paid by the employer in respect of the employees for whom declaration has been made under this campaign shall be at the rate of Rupee 1(one) per annum.
3. No administrative charges shall be collected from the employer in respect of the contribution made under the declaration.

vi. After furnishing declaration and depositing the contribution, a return will have to be filed with the Regional Provident Fund Commissioner in such form as may be specified by the Central Provident Fund Commissioner. 

vii. This scheme is not available for companies against whom inquiries have been initiated by PF authorities under section 7A of the Employees Provident Fund & Miscellaneous Provisions Act, 1952. (http://www.epfindia.com/site_en/circulars.php?id=sm7_officeUse)

Ref. Notifications:

1. Notification no. G.S.R. 1190(E) dated 30th December, 2016: Employees’ Provident Funds (Seventh Amendment) Scheme, 2016.
2. Notification no. G.S.R. 1191(E) dated 30th December, 2016: Employees’ Pension (Seventh Amendment) Scheme, 2016.
3. Notification no. G.S.R. 1192(E) dated 30th December, 2016: Employees’ Deposit Linked Insurance (Second Amendment) Scheme, 2016.
4. H.O No. Coord/3(1)2016/EPF Member Enrolment Scheme 2017 dated 03.01.2017

Disclaimer: This is an effort by Lexcomply.com to contribute towards improving compliance management regime. User is advised not to construe this service as legal opinion and is advisable to take a view of subject experts.