PF department sends notices to 2,000 cos over deduction of PF

Sushant Ranjan
Tuesday, 11 July 2017

Pune: After getting five complaints on an average every day from employees of different establishments in Pune about their Provident Fund (PF) not being deposited by employers, the PF department has started sending notices to 2,000 companies. They have been asked to deposit PF amount or may have to face action.

Pune: After getting five complaints on an average every day from employees of different establishments in Pune about their Provident Fund (PF) not being deposited by employers, the PF department has started sending notices to 2,000 companies. They have been asked to deposit PF amount or may have to face action.

According to a senior officer of the department, many companies deduct contribution towards PF from their employees’ salaries and do not deposit this with their trust or with Employee Provident Fund Organisation (EPFO). These companies continue this for years at length, while most employees aren’t aware of it.

Arun Kumar, Regional Commissioner 2, PF office, Pune region, said, “We have seen every month that many companies are not depositing the amount, which they deduct from their employees. This is happening with most of the major companies in Pune. We have started sending notices to these companies. They are now in our defaulter list.”

“These companies are depositing 12 per cent with EPFO in one month, but next month, they are not doing so. Now, we have given them a timeframe, that if they don’t deposit the amount in this month, they have to deposit it by 15th of next month,” said Arun Kumar.

The official said that if a company is found to be non-compliant with its PF deposit, it will not only have to pay the dues but also 12 per cent interest, with 17 per cent penalty on the same, depending on the number of days of delayed payment.

Notices served
There are around 30,000 establishments under EPFO, Pune.
Around 2,000 companies have been served notices.
If the companies don’t deposit PF on time, they have to pay a penalty of 17 per cent and interest of 12 per cent on the dues.

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