Under existing rules, once companies file their returns, known as ECR, they must also subsequently submit the EPF payments of employees at one go. Not doing so attracts a penalty
Among 15 measures announced - 6 are for MSMEs, 2 related to EPF and 2 related to MFIs, 1 to discoms, 1 to contractors, 1 to real estate, and 2 tax measures
There is no income-tax on the advance, but withdraw only in dire need
The EPFO said that companies are facing liquidity or cash crunch in paying their mandatory provident fund dues "even though they are retaining the employees on their rolls"
Employers and employees equally contribute 12 per cent of wage towards a worker's provident fund account maintained with the Employees' Provident Fund Organisation (EPFO).
Contributions to NPS may need to be scaled down
900,000 'old' workers took benefits of govt scheme for 'new jobs'
Total arrests by EOW in the case have risen to 12
The government order issued by Principal Secretary (Power) Arvind Kumar said all legal options would be explored for the recovery of the money
Memo submitted to 'mini PMO' in Varanasi, Modi's constituency
The Central Board of Trustees -- the apex decision-making body of the Employees' Provident Fund Organisation (EPFO) -- had approved 8.65 per cent interest rate for the last fiscal on February 21
At present, 24 per cent of a worker's basic pay is deducted - with 12 per cent each counted as employer's and employee's share - towards the EPF savings
EPFO has already provided facility for online transfer of PF accounts on changing jobs to its subscribers.
Reversal to earlier position would make NPS unattractive