Businesses get compliance relief from EPFO

The Employees Provident Fund Organisation (EPFO) has eased the compliance burden of businesses by allowing employers to file the monthly Electronic-Challan cum Return (ECR) and make the statutory contributions later. “The ECR can now onwards be filed by employer without the need of simultaneous payment of contribution and contributions may be paid later after filing the ECR,” EPFO said.

Filing of ECR by the employer in time is indicative of Employer’s intent to comply and will not therefore attract penal consequences if the dues are paid within the extended time. Employers are required to deposit 24% of an employees salary as part of provident fund and pension obligation every month.Read Original Post

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