The Ministry of Labour and Employment (MoLE) on April 30, 2020, makes filing of monthly Electronic-Challan cum Return (ECR) separate from Payment of the statutory contributions reported in the ECR, to ease the compliance procedure under Employees’ Provident Funds and Miscellaneous Provident (EPF & MP) Act, 1952.
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.
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.
Get all EPFO Updates in one place, Subscribe us to never miss an update from EPFO, Goal of AVACOM for compliance officers is to understand legal updates in India and how the company needs to file the compliances to avoid fines and penalties, it is achieving that goal, so it can be documented and as necessary, shown to regulators or other stakeholders who might be asking about the company’s compliance program.
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