NEW DELHI : Don't be surprised if you see that there has been no deposit in your employees provident fund (EPF) account so far in the new financial year.
With severe disruptions in cash flows during the lockdown that began on March 25 and has been extended for the fourth consecutive time till May 31, the Employees' Provident Fund Organisation (EPFO) has allowed employers to delay deposits in EPF accounts.
Under the EPFO rules, employers are mandated to deposit provident fund dues on salaries by 15th of the next month. After a grace period of 10 days, employers are penalised for any delay.
So for example, EPF dues on your March month's salary should be deposited by your employer within 25th April to avoid any penalty.