New Delhi: If you’re a contributor to the EPF, this can be good news for you. The Employee Provident Fund Organisation issued the most recent round on January 30, 2024, relating to the submission of joint declarations, a necessary doc for each EPF member. Some EPF account holders won’t must submit a joint declaration type, in response to the Employees’ Provident Fund Organization (EPFO).
Signature Of Employer And Employee
In the joint declaration type, the signatures of the employer and worker are required. Correction of inaccurate info within the worker’s PF account requires submission to the Regional PF Commissioner. (Also Read: Bank Employees To Receive 17% Annual Wage Hike; IBA, Unions Sign Joint Note)
What EPFO Said In Latest Circular?
The EPFO revealed a round in January of this yr stating that to ensure that employers and workers to collectively contribute to the EPF account on a primary pay that exceeds the current statutory wage ceiling of Rs 15,000 per thirty days, they have to submit this type. (Also Read: Good News For Job Seekers! Elon Musk’s Firm X Has Over 1 Million Openings)
Who Are Exempted From Submitting Form?
According to a latest letter from EPFO, EPF members who resigned from their jobs or handed away earlier than a sure date are exempt from submitting the joint declaration varieties.
The EPFO has mentioned that workers who’ve paid over the statutory restrict however have ceased employment or handed away “till October 31, 2023” are eligible for reduction from submitting the joint software type.
The EPFO said that: “All such cases where the employees had already contributed on pay more than the statutory limit and the employer had also paid administrative charges on such contribution made on pay more than the statutory limit but had left the employment or died till 31/10/2023, it is deemed that such cases had been allowed for contributing on pay more than the statutory limit so as to avoid hassles for the concerned stakeholders.”
In addition, workers of EPF members who presently make month-to-month contributions exceeding the statutory wage restrict of Rs 15,000 and whose employers are protecting the executive prices related to these greater funds are exempt from submitting the joint declaration type straight away.
Source: zeenews.india.com
