Covid19 & Compliance Risk - Just Do Online PF Filling
In continuation of my previous post - Covid19 & Compliance Risk - No Work No Pay, please find another post on making your company complied from COVID19 Compliance Crises.
No damages will be leviable if deposits are made within the extended time declared by the Central Government.
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EPFO Grace Period & ECR Payment Process
The competent authority has decided to allow a grace period of 30 days (from 16.04.2020 to 15. 05 .2020 for filing of Electronic Challan cum Return (ECR) to the employers of those establishments which have disbursed the wages for March, 2020 to their employees.
Simultaneously, Yes, the relief announced by the EPFO on the 30th of April, 2020 in regards to ECR process that ECR can now onwards be created by any employer without the need of simultaneous payment of contributions which may be paid later by the employer after creating the ECR.
The ECR created by the employer furnishing the statutory information will not lapse and shall always be available at future date for reference to complete the payment.
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EPFO makes filing of ECR easier for business
Press Information Bureau
Government of India
Ministry of Labour & Employment
EPFO makes filing of ECR easier for business
In the current scenario of lockdown announced by the Govt. to control the spread of COVID-19 pandemic and other disruptions, the businesses and enterprises are not able to function normally and are facing liquidity / cash crunch to pay their statutory dues even though they are retaining the employees on their rolls.
Keeping in view the above situation and to further ease the compliance procedure under EPF & MP Act, 1952, the filing of monthly Electronic-Challan cum Return (ECR) is separated from Payment of the statutory contributions reported in the ECR.
The ECR can now onwards be filed by an employer without the need of simultaneous payment of contributions and contributions may be paid later by the employer after filing the ECR. The above change will entail convenience to the employers as well as the employees covered under the Act and Schemes.
Filing of ECR by the employer in time is indicative of employer’s intent to comply will not therefore attract penal consequences if the dues are paid within the extended time as announced by the Government. 5/2/2020 EPFO makes filing of ECR easier for business
Filing of ECR in time shall help in credit of employer’s and employee’s share of contributions, totaling 24% of wages by Central Govt. in EPF accounts of low wage earners in establishments eligible under Pradhan Mantri Garib Kalyan Yojana package.
The current ECR data shall also help in policy planning and decisions making for further relief to the businesses and EPF members adversely impacted by the Pandemic.
RCJ/SKP/IA
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