New Delhi: Employees Accumulation Fund (EPFO) has decided to give concession in case of PF to companies. Now after deducting the PF of the employee, there will be no need to contribute PF on behalf of the company every month, after some time the company can contribute its share. The central government has given information in this regard.

China installed cameras to monitor corona patients in quarantine

The Central Government has given a concession to companies not to submit PF of employees, but companies must fill ECR returns per month. Please tell that all companies have to pay electronic invoice less return (ECR). An employee contributes 12 percent every month to PF on its behalf and the company contributes 12 percent on its behalf. In this way, these two contributions together become 24 percent. It has to be deposited with the EPFO every month and at the same time, it is deposited in ECR.

Coronavirus released from Wuhan lab, I have evidence: Donald Trump

Experts related to the case say that by filling the ECR, it will be known that the company will not default. Because by filling the ECR, it will remain in the record that the company is deducting the PF of the employee every month, it also intends to deposit as much portion on its behalf. This will not worsen the economic situation of the companies dealing with Corona and the employees will also get the benefit of PF.

Tarun Bajaj took over as new secretary of the economic department