We provide monthly EPF Challan, ECR, Acknowledgment, payment link, Employer Login ID/PW is sent by us to Employee that makes an easier way to make payment of Challans by Employer. The Employee Provident Fund is a scheme that has been put in place to help employees create some savings throughout the duration of their service years. This scheme requires that employees and also employers contribute a specific sum towards the provident fund. For the employee, it is not a matter of concern since the employers are tasked with deducting and depositing said amounts in EPF/UAN accounts. But if you are an employer then you will need to know how to understand the receipt that is generated when the payments are made.
If you have seen the E P F challan, you may have some questions about what those fields actually stand for also how they are to be filled. What follows is an explanation of these fields and the data they represent like Establishment Code number, number of Subscribers, Total Wages due, Admin Charges, and Share of Employee and Employer etc. We help the Employer/Employee to understand the theory of EPF Act and aware the Employee/Employer regarding this Act.
Following penalties imposed by the EPF Departments in different offences for any establishment under EPF & MP Act 1952 which shall not be less than one year and a fine of the heavy amount in case of default in the payment of the Employee Contribution which has been deducted by the employer from the employee’s wages. This shall not be less than six months and a fine of heavy Amount, in any other case. On late payment, Panel Damages and Interest Damages (14B & 7Q) are issued from EPF Department to pay the amount on late Challan deposited.
EPF & MP Act, 1952 is a giant Act in labour law field and have the authority to get makes the statutory compliances on timely and on terms of act requirement.