EPFO-Identify establishments depositing EPF contributions by cheque, and ensure epf deposits are made mandatorily through internet banking only
Employees’ Provident Fund Organisation
No. Bkg./1(4)2010/Online Remittance/Vol.II/517 Web Circulation
Date: 16th August, 2016
To
All RPFCs/In-charge of
Regional Sub-Regional Offices
Subject: Mandatory Deposits of contribution through Internet Banking- reg.
Ref: This office circular No. Bkg./1(4) 2010 Online Remittance/Vol.II/39659 dated 12.02.2016
Sir,
As per the report received from SBI the staus of collection of contribution in the month of July-2016 is given below:
| Total Collections | Collection through Internet Banking | % Collection Internet Banking | Collection through cheque | % through cheque | |
| In Amount (Rs.) | 9576 cr. | 9099 cr. | 95.02% | 477 cr. | 4.98% |
| In Challans | 593907 | 546942 | 92.09% | 46965 | 7.91% |
2. On the above subject matter the Central Government had notified on 5th May, 2015 the amendments in Para 38(1) and 48 of EPF Scheme, 1952 maaking it mandatory for employers to payment the statutory contributions through Internet Banking only.
3. On going through the data received from SBI it is noticed that 46965 (details enclosed) challans are deposited through cheque. Accordingly, it is requested to identify the establishments depositing their contributions through cheque, and ensure that all contributions received through internet banking.
[Issues with the approval of RPFC-l(F&A)]
Your faithfully
(Vishal Agarwal)
RPFC-II(Banking
Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…
Order u/s 148A(d) passed against non-existent entity is bad in eyes of law. Mere activation of PAN not give right…
Tax authorities not bound with provisions of section 44AE of the Act once assessee waived the option available In a…
Whether seized document is incriminating or not is definitely a findings of fact – High Court In a recent judgment,…
Interest earned on borrowed funds/ unutilized capital subsidy are capital receipts In a recent judgment, Hon'ble Guwahati High Court has…
There is no statutory requirement of pre-deposit for stay of demand under Income Tax Act - High Court stayed demand …