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One-third of firms fail to pay April PF dues

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NEW DELHI : About a third of all employers registered with India’s retirement fund manager have not submitted statutory provident fund dues for April, highlighting the broad deterioration in company finances as revenues dried up overnight because of the nationwide lockdown.Only 321,800 companies paid their statutory employees provident fund dues in April, almost 178,000 fewer than those that paid in the previous month, latest data from the Employees’ Provident Fund Organisation (EPFO) showed.

When compared with February, a period when India was unaffected by the pandemic, 199,000 fewer firms paid dues.“The companies have got some exemptions due to the lockdown, but you must realize that such a high number of companies not submitting dues.

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Recovered: 0
India
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