The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 CONTRIBUTION : Please remind that Irrespective of the pay structures followed by the establishment, the Employer should ensure that contributions shall be calculated on all eligible pay components as per the EPF & MP Act, 1952. Also, disproportionately low wages for EPF contributions will attract system assisted scrutiny of the employer records. • Non-remittance of PF contribution deducted from employees' wages shall be construed as Criminal breath of Trust, punishable under section 405/406 of Indian Penal Code. • Monthly contribution shall be paid by the employer by filing ECR under Payment -» ECR/RETURN filing on or before 15th of every month. • Monthly contribution shall be paid through ONLINE only. • Contribution is rounded to the nearest rupee for each employee. • EPF Administrative Charges (A/c.No.2) is rounded to the nearest rupee and a minimum of Rs.500/- is payable. • In case the establishment is exempted under EDLI Scheme, (no need to remit A/c.No.21) Inspection charges @ 0.005% on total wages, subject to minimum of Rs.1/- is payable in A/c.No.22. Get in touch today! Corpmaxx Consultees Labour Law Consultant PF Consultants in Mumbai, Navi Mumbai and Thane | Tax Consultants in Mumbai, Navi Mumbai and Thane | ESIC Consultants in Mumbai, Navi Mumbai and Thane | Shop Establishment Consultants in Mumbai, Navi Mumbai and Thane | Labour Law Consultants in Mumbai, Navi Mumbai and Thane | Labour Licence Consultants in Mumbai, Navi Mumbai and Thane | Professional Tax Consultants in Mumbai, Navi Mumbai and Thane | Shop Act Registration in Mumbai, Navi Mumbai and Thane | Compliance Consultants in Mumbai, Navi Mumbai and Thane | Statutory Compliance Consultants in Mumbai, Navi Mumbai and Thane | MLWF Consultants in Mumbai, Navi Mumbai and Thane | Factory Licence Consultants in Mumbai, Navi Mumbai and Thane Service Areas: Parel, Dadar, Ghatkopar, Vikhroli, Kanjur Marg, Powai, Bhandup, Nahur, Mulund, Thane, Taloja, Wagle Estate, Bhiwandi, Dombivli, Kalyan, Ambernath, Badlapur, Atgaon, Lower Parel, Prabhadevi, Bandra, SantaCruz, Vile Parle, Andheri, Marol-Andheri, Sakinaka, Kandivali, Borivali, Vasai Road, Virar. Chembur, Vashi, Nerul, Belapur CBD, Kharghar, Panvel, Airoli, Rabale, Mahape, Turbhe, Virar, Palghar, Boisar. 14-03-2024