The Employees Provident Fund Organization (EPFO) has given relief to companies in view of the ongoing lockdown (closure) for the prevention of corona virus epidemic. Under this, the employer can now pay the contribution of EPF of March and other social welfare schemes by May 15. This will provide relief to six lakh companies and more than 5 crore shareholders. The contribution of the month of March in the social security schemes of EPFO was to be paid by 15 April. It has now been extended to 15 May.
“Given the unforeseen situation due to corona virus and lockdown”, the Labor Ministry said in a statement. The date of submission of Electronic Challan cum Return (ECR) for the salary for the month of March is being done by 15 May 2020 is. This is for employers who have given their workers a reward for the month of March. According to the statement, the deadline for submission of ECR for March 2020 is normally 15 April 2020.
This decision of the Ministry of Labor and Employment will provide relief to those employers who have disbursed the salary of their employees to March this year. This is an incentive for employers to pay salaries of employees during the corona virus epidemic. One month deferment in filling ECR will benefit six lakh establishments and five crore shareholders. Employers have to provide the date of salary disbursement for the month of March while submitting the ECR.
Employers who have paid their employees the salary for the month of March have not only been given extra time to pay the EPF dues but will also not be liable for interest and fines if they submit it on or before 15 May. However, this benefit is for the same employers who have paid their employees’ salary for the month of March.