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₹12,000-cr liquidity boost as EPFO defers March dues payment

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New Delhi: The union government Wednesday allowed lakhs of companies and establishments to delay the deposit of the monthly statutory PF deductions of millions of workers, allowing them to have a liquidity benefit of around Rs.12,000 crore immediately .

The deadline for depositing the Employees Provident Fund (EPF) was delayed by 30 days keeping in mind the business loss due to the preventive Covid-19 lockdown, the retirement fund manager notified Wednesday.

This means 24% of basic and HRA deductions as EPF contribution – 12% of the employers’ share and 12% of the employees’ share – for the month of March will not be required to be submitted in April.

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United States
United States
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Deaths: 750 423
Recovered: 0
India
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Cases: 34 321 025
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Brazil
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Deaths: 237 619
Recovered: 0
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