Dear All,
Effective from May 1, 2015, EPFO is contemplating to make payment of challans mandatory through internet banking mode.
Given below is a text of email by EPFO to Employers for your kind reference.
"Dear Employer,
As the financial year 2014-15 is coming to a close, let me place on record appreciation for the tremendous help extended by you in making the system of social security more transparent, efficient and accountable. Many a times during the year, we have sought your assistance and help in updating the database of EPFO, which you have extended; willingly and with a lot of enthusiasm. I am sure that all such efforts made by you will in future not only make EPFO as more efficient organization but shall reduce your cost of compliance to Social Security Act.
You are aware that from August, 2014 the payment of challans can be made electronically through internet banking. You will happy to note that this new facility has received tremendous response from the employer and more than 40% of the monthly contribution is being received through internet banking.
In order to further reduce your mandatory interface with EPF office/bank and to improve the ease of doing business in India, EPFO is contemplating to make payment of challans mandatory through internet banking mode. It is to inform you that w.e.f. 01-05-2015 i.e. the payment 1st month of next financial year will be received only through internet banking mode.
Should there be any clarification, it should be addressed to RPFC(F&A) (rc.fa@epfindia.gov.in) through e-mail.
(Sanjay Kumar)
FA & CAO"
It is therefore advised to have internet banking facility by all the employers. Now the question is, how many employers can initiate this facility by May 2015?
Effective from May 1, 2015, EPFO is contemplating to make payment of challans mandatory through internet banking mode.
Given below is a text of email by EPFO to Employers for your kind reference.
"Dear Employer,
As the financial year 2014-15 is coming to a close, let me place on record appreciation for the tremendous help extended by you in making the system of social security more transparent, efficient and accountable. Many a times during the year, we have sought your assistance and help in updating the database of EPFO, which you have extended; willingly and with a lot of enthusiasm. I am sure that all such efforts made by you will in future not only make EPFO as more efficient organization but shall reduce your cost of compliance to Social Security Act.
You are aware that from August, 2014 the payment of challans can be made electronically through internet banking. You will happy to note that this new facility has received tremendous response from the employer and more than 40% of the monthly contribution is being received through internet banking.
In order to further reduce your mandatory interface with EPF office/bank and to improve the ease of doing business in India, EPFO is contemplating to make payment of challans mandatory through internet banking mode. It is to inform you that w.e.f. 01-05-2015 i.e. the payment 1st month of next financial year will be received only through internet banking mode.
Should there be any clarification, it should be addressed to RPFC(F&A) (rc.fa@epfindia.gov.in) through e-mail.
(Sanjay Kumar)
FA & CAO"
It is therefore advised to have internet banking facility by all the employers. Now the question is, how many employers can initiate this facility by May 2015?