EPFO withdraws grace period
Source: The Sangai Express
Imphal, January 19 2016:
The Employers Provident Fund Organisation
(EPFO) has removed the grace period of five days given to employers
to deposit the provident fund (PF) contribution.
Earlier, employers paid the PF contributions and administrative
charges within 15 days of close of every month and had
a grace period of five days.
The grace period has been removed with effect from
February 2016 and the contributions for the current month
have to be deposited in February.
The employers will therefore
need to deposit the remittances within 15 days of close of
every month from February 2016, according to a statement
issued by the regional PF commissioner-I, North-East Region.