The deadline extension to 15 June will give thousands of firms a liquidity boost of around ₹15,000 crore The Union government is likely to further push back the deadline for depositing monthly statutory provident fund and employee health insurance deductions of millions of formal sector employees till 15 June, which gives thousands of companies a liquidity boost of a total of around ₹15,000 crore.
The Employees’ Provident Fund Organisation (EPFO) deadline extension will provide a liquidity boost of around ₹12,500 crore, while the extension of the deadline for depositing Employees’ State Insurance Corporation (ESIC) deductions will help establishments save nearly ₹2,500 crore in the short run, two government officials said. “The lockdown