Employers must have a net banking facility with the bank.However, to make payment through this method, the following conditions are applicable: The authorized website of the bank in which the employer holds an account.There are two modes to make EPF payment online. Subsequently, the employer deposits the total payable amount to the employee’s PF account.Įarlier the employer could make EPF Payment offline but from September 2015 onwards it is mandatory to pay it online. Thereafter, the employer also contributes an equivalent amount. In organizations registered under the PF Act, a deduction is made from an employee’s salary towards contribution to the PF account. Online EPF payment is made by the employer on behalf of both parties. Deduction of the deposit amount is made from the employee’s salary and the same amount is contributed by the employer. Employees and employers make compulsory contributions under the Provident Funds scheme.
It is a retirement savings scheme that is useful for employees. The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 (PF Act) governs the provisions of EPF. Which Banks Provide Online EPF Payment Services?.The employers have to declare the date of disbursement of wage for March, 2020 in the ECR for March, 2020. This relief will benefit about 6 lakh establishments to file ECRs without default by paying salary to about 5 crore employees. The move is in keeping with the objective of the Pradhan Mantri Garib Kalyan Yojana to prevent disruption in employment and ensure earning to employees to help them fight the pandemic. The above decision of Ministry of Labour and Employment is to support and provide relief to Employers of establishments which have disbursed wages for March, 2020 to its employees and an incentive to employers for wage payment to employees during COVID-19 pandemic. The due date for March, 2020 is ordinarily, so grace period of thirty days has been allowed to the establishments covered under EPF & MP Act, 1952 to remit the contributions and administrative charges due for March, 2020 Considering the unprecedented situation created by COVID-19 and lockdown announced by the Central Government from midnight onwards to prevent the spread of Covid-19, the due date for filing of Electronic Challan Cum Return (ECR) for wage month March, 2020 is extended up to for employers who have paid wages to their employees for March, 2020.
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