Pune: The Employees Provident Fund Organisation (EPFO) has taken a big step to recovering PF on time from non-depository companies. EPFO has decided that officials do not need permission from higher authorities to take action against companies, which have not deposited PF of two months or more.
So far, for inspection of companies, the officials had to get permission from the Central Analysis Intelligence Unit (CAIU).
EPFO had created CAIU to track whether the companies are submitting PF from time to time or not.
A circular sent by EPFO, Delhi, to all zonal and regional offices states that the regional commissioner will decide on the basis of default amount under the category ‘A’ and ‘B’ of defaulting companies. It should be given priority to inspect the company whose default amount is higher. Arun Kumar, Regional Commissioner, EPFO, Pune, said, “This will speed up the inspection on companies and recovery of PF amount.
The companies will also be fear stricken about inspection and will deposit the due PF of employees.”
“The companies, which have not deposited PF amount for four wage months and more, come under the ‘A’ category. Those who have not deposited the amount for two or three wage months come under category ‘B’. In the same way, the companies, which have not deposited the PF amount of one month fall into ‘C’ category,” Kumar said.
Central Intelligence Unit of EPFO collects and prepares the list of defaulters on its portal every month.