How Will Monthly PF Statements from EPFO Impact Your Business Compliance?

Hello Professional HR & Business Veterans,

Please find attached a very inspiring whistle-blowing watchdog entrepreneurial lesson article in ET on Employee Provident Fund Statutory Compliances, i.e., EPFO to Issue Monthly PF Statement From FY13.

Dear Mr. Dilip,

Even though it encourages all the workforce that they are having savings in PF (on one side, it will reduce the attrition rate in the Construction Industry), it is very sad to note that Tamil Nadu is on top of the list in defaulter states, followed by Andhra Pradesh, Bihar, Karnataka, and Kerala (all South states are included in the defaulting list).

Anyhow, good information, Mr. Dilip. Thanks for sharing.

It is only one firm, Subhiksha, which contributes to a very large sum. They are a major defaulter of PF, and their existence in the south was significant.