It is sad and unfortunate that the EPFO is suddenly withdrawing the long-established practice of allowing a five-day grace period without any valid reasons. The practice has been in place for over 50 years, and EPFO is not losing any amount by allowing the grace period to be used occasionally by some employers. Even now, due to frequent bank strikes and network problems in banks, many employers are unable to remit the dues on time. EPFO should be strongly represented by all Employers Forums/Associations to ensure that the existing practice is not withdrawn.
Moreover, as pointed out by EPFO, most of the work is being done by employers electronically, and therefore there is no valid reason to collect huge administrative charges from employers. EPFO should also be requested not to collect any administrative charges.
Regards,
N. Nataraajhan
[Phone Number Removed For Privacy Reasons]
Sakthi Management Services