Update March 2017: The Board took note of the extension of Employees’ Enrolment Campaign (EEC) by the Government for additional three months beginning 01st April 2017. The EEC aims to enroll left out employees and provides incentives to employers in the form of waiver of administrative charges, nominal damages @ Rupee 1/- annum and waiver of employees share if not deducted.
Employees Provident Fund Organisation has introduced a new Notification, in which special drive will be initiated from 1st January, 2017 by the EPFO for coverage of the Establishment which are not yet covered but which are liable for EPF coverage.
The Establishment which is legally liable for coverage will be covered under the Employees Provident Fund Act.
According to the notification, following benefits will be provided to the defaulters:
1. Only Employer Share will be levied, No Employees Share.
2. Interest as applicable on Employer’s Share.
3. Damages @ Rs.1/- Per Annum.
The above will be with a condition that, the Establishment is not legally liable before 01.04.2009.
Notification: EPF Amendment 2016 No Penalty for PF Defaulters