EPFO Defers March Dues Payment By A Month Amid India’s Coronavirus Lockdown
Employees Provident Fund Organisation has deferred payment of March dues till May 15 to provide relief to six lakh firms and more than five crore subscribers, in the wake of an extended lockdown to contain the coronavirus pandemic.
The contributions towards social security schemes run by EPFO for March was due till April 15, which has been extended till May 15.
"The due date for filing of Electronic Challan Cum Return for wage month March 2020 is extended up to May 15, 2020, for employers who have paid wages to their employees for March 2020," according to a labour ministry statement.
According to the statement, the due date for March payments was April 15. So, grace period of 30 days has been allowed to establishments covered under The Employees Provident Fund & Miscellaneous Provisions Act, 1952, to remit the contributions and administrative charges due for March 2020.
This decision of Ministry of Labour and Employment is to support and provide relief to employers of establishments which have disbursed wages for March 2020 and an incentive to employers for wage payment to employees during the pandemic, it said.
The move is in keeping with the objective of the Pradhan Mantri Garib Kalyan Yojana to prevent disruption in employment and ensure earning to employees to help them fight the pandemic, it added.
This relief will benefit about six lakh establishments to file ECRs without default by paying salary to about five crore employees. The employers have to declare the date of disbursement of wage for March 2020 in the ECR for the month.
The ECR, with the said declaration, and contributions and administrative charges for March 2020 are now due on or before May 15, 2020.
The employers disbursing the wages for March, not only get relief of extension of due date for payment of EPF dues but also avoid liability of interest and penalty, if they remit on or before May 15, 2020.