EPFO’s Relief Will Benefit Six Lakh Establishments and Five Crore Shareholders
The Employees Provident Fund Organization (EPFO) has given relief to companies in view of the ongoing lockdown for the prevention of corona virus epidemic. Under this, the employer can now pay the contribution of EPF of March and other social welfare schemes by May 15. This will provide relief to six lakh companies and more than 5 crore shareholders. The contribution of the month of March in the social security schemes of EPFO was to be paid by 15 April. It has now been extended to 15 May.
ECR submission date for March is now 15 May 2020
“Given the unforeseen situation due to corona virus and lockdown”, the Labour Ministry said in a statement, “the date of submission of Electronic Challan cum Return (ECR) for the month of March can be done by 15 May 2020”. According to the statement, the deadline for submission of ECR for March 2020 is normally 15 April 2020. Thus, establishments falling under the Employees Provident Fund and Miscellaneous Act, 1952 (EPF & MP Act) have been given an additional 30 days extension for depositing the contribution amount and administrative fee for the month of March this year.
There is also no liability for interest and penalty if salary is paid to employees for the month of march
However this decision to extend the date till 15th May of the Ministry of Labour and Employment will provide relief to only those employers who have disbursed the salary of their employees of March this year. This is an incentive for employers to pay salaries of employees during the corona virus epidemic. Employers will have to provide the date when the salary was disbursement for the month of March to avail the benefits.
One month deferment in filling ECR will benefit six lakh establishments and five crore shareholders.
Employers who have paid their employees the salary for the month of March, are not only given extra time to pay EPF dues but will also not be liable for interest and fines if they submit it on or before 15 May. However, this benefit is for the same employers who have paid their employees’ salary for the month of March.
Total cases in India reached 12,380; death toll rises to 414
The total number of coronavirus cases in India has reached 12,380. Death toll has reached 414. Total number of people recovered are 1,489. In the world 20,52, 508 people have been infected with the corona virus. 1,32,922 people have died. Five lakh 8 thousand 387 patients have recovered.
