Mandatory Electronic Payment for EPF Contributions
The Ministry of Labour and Employment, via notification No.G.S.R. 360(E) dated 5th May 2015, has amended para 38(1) of the EPF Scheme, 1952. The Central Government has made it mandatory for employers to pay statutory contributions electronically through Internet Banking only.
In the exercise of powers conferred to the Central Provident Fund Commissioner under the amended para 38(1) of the EPF Scheme, 1952, it was ordered by the CPFC via Office Order of even No. dated 24th June 2015 that an employer who makes a payment of less than Rupees one lakh in a particular month as contributions under the Employees' Provident Funds and Miscellaneous Fund Act, 1952, and schemes framed thereunder, shall have the option to make such payments through bank drafts, bankers cheques, or cheques drawn only on the local bank as was being done earlier.
The order dated 24th June 2015 stands amended and shall be valid up to the month of December 2015. Thereafter, it shall be mandatory from 1st January 2016 for all employers to make payments electronically through internet banking.
From India, Bangalore
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653The Ministry of Labour and Employment, via notification No.G.S.R. 360(E) dated 5th May 2015, has amended para 38(1) of the EPF Scheme, 1952. The Central Government has made it mandatory for employers to pay statutory contributions electronically through Internet Banking only.
In the exercise of powers conferred to the Central Provident Fund Commissioner under the amended para 38(1) of the EPF Scheme, 1952, it was ordered by the CPFC via Office Order of even No. dated 24th June 2015 that an employer who makes a payment of less than Rupees one lakh in a particular month as contributions under the Employees' Provident Funds and Miscellaneous Fund Act, 1952, and schemes framed thereunder, shall have the option to make such payments through bank drafts, bankers cheques, or cheques drawn only on the local bank as was being done earlier.
The order dated 24th June 2015 stands amended and shall be valid up to the month of December 2015. Thereafter, it shall be mandatory from 1st January 2016 for all employers to make payments electronically through internet banking.
From India, Bangalore
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Online payment of PF mandatory from 1.1.2016.pdf