Companies that do not complete registration will get relief, EPFO ​​is coming up with amnesty scheme.

New Delhi : Employees Provident Fund Organization i.e. EPFO ​​has given relief to the companies which are not able to register. EPFO is considering introducing an amnesty scheme for those companies which have not been able to register with EPFO ​​due to financial burden or any other reason or which have not been able to keep the EPFO ​​account active. As per the orders of the Union Ministry of Labor and Employment, EPFO ​​has also started preparations to make a blueprint for this scheme. It is expected that this scheme can be announced by the end of December.

According to some sources, it is being said that the amnesty scheme can be a part of the employment related incentive scheme. Let us tell you that in the general budget for the financial year 2024-25 itself, the Central Government had announced the introduction of ELI scheme to promote employment and connect workers with the organized sector. Under this scheme, employees registered with EPFO ​​will be given Rs 15,000 i.e. one month's salary in 3 easy installments.

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Number of employees will increase

EPFO is going to provide financial assistance related to contribution to create employment opportunities in the manufacturing sector. Along with this, for employees getting salary of less than Rs 1 lakh, the employer will be given a compensation of Rs 3,000 every month, which is going to be given for 2 years. The government hopes that through the incentives related to ELI, the number of employees registering with EPFO ​​will also increase. That is why preparations are being made to come up with an amnesty scheme to increase the number of employees, which in a way will work to promote the scheme.

Exemption will be available only till 2024

Under this scheme, between 2017 and 2024, relief is going to be given to all those employers i.e. those companies and firms, which have not been able to complete the registration in EPFO ​​or have not been able to deposit the contribution on time after registration. Due to which the EPFO ​​accounts of the employees associated with the company have not remained active. Under this amnesty scheme, the companies which are not able to get registered are going to be given relief and an opportunity to join EPFO ​​again.