EPFO lets small firms pay dues by cheques, drafts till June

NEW DELHI: The Employees' Provident Fund Organisation ( EPFO) has allowed employers whose statutory contribution is less than Rs 1 lakh to make payment through bank drafts, banker's cheques and local cheques till June this year.

All in-charge of over 120 regional offices of the EPFO are authorised for allowing small firms giving genuine reason with less than Rs 1 lakh PF dues a month to make payment through bank drafts, banker's cheques and local cheques till June 30, said an EPFO circular.

Earlier in June last year, EPFO had offered an option to employers with PF dues of less than Rs 1 lakh to make such payment through bank drafts or banker's cheques drawn on local banks till September this year.

Later, these relaxations were extended till December 31 2015. Thereafter, all firms are supposed to deposit their PF dues electronically.

The circular stated that the in-charge of the regional office will examine the request of the establishment and shall record facts of the case with reasoning.

EPFO has a subscriber base of over five crore. It is expected to receive an incremental deposit of about Rs 1.2 lakh crore this fiscal.