Govt may soon allow firms to delay EPF contributions or pay in installments

EPFO CEO tells companies they are legally obliged to make provident fund contribution on basic pay of up to Rs 15,000

The Union government is contemplating granting relief to companies by allowing them to delay or pay in installments their contribution to Employees’ Provident Fund (EPF) of their staff, apart from enabling more firms to make use of the EPF subsidy scheme.

At a meeting with the Confederation of Indian Industry (CII) on April 30, Employees’ Provident Fund Organisation (EPFO) chief executive officer Sunil Barthwal told employers that if they get into an agreement with their workers to revise the wage contract, they need deduct EPF contributions only on the basic pay of up to Rs 15,000, even if their basic