EPFO gives employers time period upto 31/12/2023 to upload wage details for higher pension.
Contents News/Article Date: 29th September 2023
Relating to which Act: The Employees Provident Funds & Miscellaneous Provisions Act, 1952;
Penalty under the Act: Whoever, for the purpose of avoiding any payment to be made by himself under this Act [the Scheme, the [Pension] Scheme] or the Insurance Scheme] or of enabling any other person to avoid such payment knowingly makes or causes to be made any false statement or false representation shall be punishable with imprisonment for a term which may extend to one year, or with fine of five thousand rupees, or with both].
Applicable to which State: Whole of India
Type: Ministry of Labour & Employment announcement through Public Information Bureau
Pertains to: All PF registered establishments
Relevance of this news: Karma Global is in the business of HR Services, Payroll, Outsourcing and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.
Now Karma Global is also fully into labour compliances for nearly 18 years and is helping both establishments and workers for fulfilment of obligations as per the laws of the land. It has over 200 staff, both direct and indirect on its rolls and operates on pan India basis. Recently, it has diversified into foreign shores as well, into countries like US, UK, UAE, Canada, Philippines, and Asia for handling payroll, outsourcing, recruitment and governance.
And in the current instance: Representation received from Employers and Employers Association wherein requests were made to extend the time period for uploading wage details of applicant pensioners /members, the employers were given further period of 3 months to upload latest online by 30/9/2023.
Now again many representations have been received to extend further time period for the employers to upload wage details till 31/12/2023.
Subject: Higher pension – EPFO gives employers time period up to 31/12/2023 to upload wage details for higher pension.
Attached is the notification