According to a recent news report in The Hindu, pilots of
Angered over the airline’s failure to deposit their provident fund amount from 2020 despite deducting the amount from their salaries.
This is not the first time a company has failed to submit EPF Contribution In the EPF account of the employees. Earlier also, it has been reported that the Employees’ Provident Fund Organization (EPFO) has demanded Rs 1,181 crore for outstanding pension and provident fund dues on Sahara India.
To ensure that employers deposit EPF dues of employees on time, the government amended the Income Tax Act in Budget 2021. As per the amended income tax law, employers will not be able to claim deduction (employers can claim tax deduction if EPF contribution is credited as expenditure) if they do not deposit epf dues on time,
Till when should the employer deposit the money in the EPF account of the employees?
Rishi Aggarwal, Founder and CEO, TeamLease Regtech says, “An employer is required to deposit the EPF contribution within 15 days from the end of the month for which the salary has been paid. For example, for the month of July 2022. For this, the employer is required to deposit the EPF contribution of both the employer and the employee in the EPF account of the employee by August 15, 2022.”
How can an employee check whether an employer has deposited the EPF contribution in his account on time?
Agarwal says, “Employees Provident Fund Organization (EPFO) provides an online facility for its account holders to check their and their employer’s contribution towards their EPF. Must check from employer about passbook. To check monthly deposit.”
How to check EPF balance and download passbook
EPF member can check and download EPF passbook through EPFO ​​portal or UMANG App.
To access the EPF passbook, an EPF member needs to register himself on the Member e-Sewa portal. There will be details like Universal Account Number (UAN), PAN and Aadhaar number to register on the portal. Once the account is registered, the passbook can be viewed at the following link: https://passbook.epfindia.gov.in/MemberPassBook/Login.
To access the passbook through the UMANG app, an EPF member has to download it on his mobile phone, register himself using his mobile number. Once the registration process is complete, the passbook can be accessed by simply logging in using the UAN and One-Time Password (OTP) received on your registered mobile number.
Employees can also check their EPF balance through SMS and missed call facilities provided by EPF. SMS should be sent to 7738299899 using the registered mobile number of the employee in the following format “EPFOHO UAN”. The number for missed call facility is 011-22901406.