reflexes
It is necessary for the company to deposit its participation in the employee’s PF account.
If the company does not do this, then a complaint can be made online for this.
Subscribers can also check their PF account balance online.
New Delhi. For any such company or institution in India, where more than 20 employees work, it is necessary to open Employee Provident Fund Account (EPF Account) of their employees. Both the employee and the employer contribute to this account. But, many times it happens that some companies do not put their contribution in the PF of the employees. If your company is also doing this, then you are breaking the rules. You can complain online with EPFO.
The Supreme Court had also said in one of its February 2022 decisions that if the company puts money in arrears in an employee’s Provident Fund (EPF) contribution, then the company itself will compensate the loss caused to the employee due to this delay. . . Therefore, the company is required to pay interest on the delinquent contribution under Section 14B and Section 7Q of the Employees Provident Fund and Miscellaneous Provisions Act of 1952 (Employee Provident Fund and Miscellaneous Provisions Act). Employees, 1952).
Employers who do not pay contributions are required to pay damages and interest on the amount owed.#AmritMahotsav #epfo #PF @PMOIndia @byadavbjp @Rameswar_Teli @LaborMinistry @mygovindia @GDP_India @MIB_India @AmritMahotsav pic.twitter.com/19ZLL5ohA2
— EPFO (@socialepfo) February 17, 2023
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Tags: business news in hindi, EPF, epfo, personal finance, pf account
FIRST POSTED: Feb 20, 2023 12:42 PM IST
