Personal Finance News

EPFO introduces new electronic facilities to view compliances

As per the latest update on EPFO, the Employees’ Provident Fund Organisation has come up with digital or electronic facility.

This electronic facility will be however meant for the principal employers. It will make it easier for the employers to view the EPF compliances of their employees or the contractors.

EPFO has informed all the concerned regarding the same via its official twitter handle.

Further, for more information on the definitions, the principal employer is the owner or the occupier or the manager in a factory.

To make it easier, the person who is under the control or supervision of the company will be the principal employer.

He or she is the one who employs or hires the contract labour via contractor.

The Employees’ Provident Fund Organisation has come up with a facility that will interlink the principal employers with the respective contract employers. This is to maintain an effective compliance.

It is an online facility which is available on the website of EPFO for the principal employers to upload outsourced job contracts or work orders etc. directly to provide effective e-governance system.

Also, it will enhance the coverage to expand the provident fund benefits to all those eligible employees/workers.

Further, there are also two categories for registration of principal employees.

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