EPFO deploys online mechanism to credit dues in EPF and EPS accounts
T
he Employees Provident Fund Organisation (EPFO) has deployed an electronic mechanism for crediting EPF and EPS accounts of subscribers as per a recent package announced by the government under PM Gareeb Kalyan Yojna for helping poor fight corona pandemic.
The relief announced by the government can be claimed by eligible organisations and establishments by filing electronic challan-cum-return (ECR).
The due amount on behalf of employers and employees reflected in the ECR (24 per cent of wages) will be credited by the Central government for three months in UANs of contributory EPF members earning a monthly wage of less than Rs 15,000.
About 79 lakh subscribers and 3.8 lakh establishments are expected to benefit. This is estimated to have a subsidy outgo of Rs 4,800 crore in three months, according to an official statement issued on Saturday.
The PMGKY package is aimed at preventing disruption in the employment of low wage earning EPF members and extending support to the eligible EPF covered establishments.
✔️ EPFO deploys online mechanism to credit dues in EPF and EPS accounts
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