The labour ministry has deferred by three months the mandatory Aadhar verification for filing of monthly provident fund returns by employers. The transfer is aimed toward guaranteeing statutory deposits are usually not held again due to this and comes as a breather to each employers and staff.
“The date of implementation for filing ECR with Aadhaar verified UANs has been extended to September 1, 2021,” the Employees Provident Fund Organisation stated on Tuesday. Employees, in addition to employers’ representatives, have introduced up the problem earlier than the labour ministry saying the mismatch of information will lead to a delay in statutory deposits. This, they stated, might deprive EPFO beneficiaries of their authentic dues and should even result in the misappropriation of funds.
“Linking of Aadhar with the UAN is mandatory. The deadline has now been extended to September 1. Employers’ need to use this extended time to make sure that suitable communication is sent to employees advising them of the consequences of non-linking, and provide guidance on how the linking can be completed,” Saraswathi Kasturirangan, accomplice, Deloitte India stated.
Under the EPF&MP Act, the employers should contribute 24% (12% every of employer and the worker) to the provident fund kitty of the worker which makes the employee eligible for pension and provident fund after retirement.
The Act is relevant to institutions using 20 or extra employees and is eligible for employees incomes lower than Rs 15,000 a month. The EPFO beneficiaries are entitled to provident fund, pensions and deposit linked insurance coverage below the EPF scheme. Prior to this, the federal government had allowed registrations and filing of returns below the Employees State Insurance Corporation with out mandatory Aadhaar verification.
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