PF Pension 1995 – Enable all eligible persons to file their applications, the timeline for filing applications would now be till 26th June 2023
Contents News/Article Date: 2nd May 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: All the establishments in the States with PF coverage
Type: Posted by PIB Delhi
Pertains to: Establishments and Members of PF Fund
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: EPFO has made arrangements for obtaining Applications for Validation of Option / Joint Option from pensioners / members as per the Hon’ble Supreme Court order dated 04.11.2022. To facilitate this process, online facility has been made available.
More than 12 lakh applications have been received till date. The online facility was to remain available only till 03.05.2023. In the meantime, many representations have been received from various quarters seeking extension of time. The issue has been considered and it has been decided that in order to provide a larger window of opportunity and in order to enable all eligible persons to file their applications, the timeline for filing applications would now be till 26 June, 2023.
And in the previous instance: EPFO’s letter dated 23/4/2023 speaks of the steps for online facility available up to 3/5/2023 and also the steps for scrutiny and the parameters for scrutiny and the category of scrutiny, ending with monitoring mechanism and grievance.
Subject: PF Pension 1995 – Enable all eligible persons to file their applications, the timeline for filing applications would now be till 26 June, 2023
Attached is the notification