Contactor Issues with EPF

Many contactors are despositing money in EPF accounts of labour and the labour is clue less. This money is lying unused. How does EPFO plan to correct this and ensure the beneficiary gets his share/due. more  

Vijay Kanaujia - I think that earlier also I have suggested that EPFO office has to develop a new software through which the poor people can get their money without much difficulty and they need not pay any kind of bribe to anybody in the EPF Office. The poor man has to open the online software and give his details for getting his money easily transferred to his bank account without delay. This has to be done by them in such a manner. more  
This is becomes more complex issue together with the indecent and indifferent functioning of our PF offices. They have unnecessary tedious procedures, systems and mant water tight compartments that, poor people will find that they will have to spent more in travel expenses and bribes than his due money so let it go. more  
Contractors are never bothered about the PF contribution of the labours and it at any cost is going to be benefitted to them. Hence, the recovery of the PF money by the contractors has to be stopped and the employer is responsible to recover the money and deposit in the PF account on their name with all required details which will be given back in later date. more  
Our is the most undisciplined nation because of wide spread corruption and lethargy in the judiciary. Mostly culprits escape punishment. This is basic reason of Crime graph going up. Employer will pass on the PF deduction to the labour only when we knows that he will have to face strict punishment otherwise. Loop hole need to be plugged. more  
This money never comes back to labour force. The labour changes from one job to another in temporary jobs and due to their illiteracy and unawareness, the PF contribution is also not being transferred from one company to another. The to be transferred is generally very small (for wages for less than 6 months to avoid absorption) and efforts by others do not appear to be commensurate with the PF money in question for transfer never to talk of withdrawal. Thanks Mr. Naveen Goel for raising this important issue for welfare of poor labour class. more  
Post a Comment

Related Posts

    • Change in pension withdrawal rules coming

      Soon, the EPFO will allow withdrawal of pension contribution only after 2 years of exiting from your previous job. Right now, pension sum can be withdrawn after 2 months of leaving a job.

      By Satvik Singh
    • EPF policies are disincentivising honest tax payer

      PF tax rules change from April. Employee contributions to PF above ₹ 2.5 lakh p.a. will be taxed.. So anyone who earns more than ₹20.83 lakhs p.a. will attract interest on EPF contribut...

      By Satvik Singh
    • How to access my forgotten FF Account

      I don't know my PF account number. I know my PAN and don't have any info about my OF account. How do I get my money from that account?

      By Ashish Patel
    • Proposal to tax PF contribution over a certain limit is retrograde

      The 2021-22 Budget is notable for not imposing fresh taxes, but for one clause lurking in its fineprint. This is the plan to withdraw the tax exemption on the interest income earned by employees&rs...

      By Satvik Singh
    • EPF interest payout

      did anyone receive interest of EPF for the year 2019/2020 in EPF passbook . Last heard it was supposed to be credited by 31st Dec 2021

      By Prasanna Pandapkp
    • PF TDS Deduction

      Hello there. Is it true that if the PF account is settled within 5 years, then TDS gets deducted from it? I had settled my PF account within (I suppose) 5 years mentioning that I am going abroad an...

      By Suhail Sayed
    • Good news on EPFO front

      EPFO to give interest rate of 8.5% to its subscribers for 2019-20 at one go. Proposal pending before the finance ministry. The current bull market prompted the EPFO to offload its equit...

      By Satvik Singh
    • Interest for 19-20

      Has anybody received Interest for 2019-20 credited in their account? News said 8.15% would be credited by Diwali but I couldn't see anything in my account.

      By Shibdas Mallick
    • Inoperative account of PF

      I have a company PF which I left 2010 and I didn't claim the PF amount. As gone thru EPFO website I got to know that my account will under inoperative account. I have sent composite claim form (Non...

      By Punitha M
    • PF fund withdrawal after retirement - Age 59

      I submitted PF withdrawal form when I took retirement from the Pvt employer and I received majority of the PF balance - employer contribution as well as my contribution. I applied after ...

      By Ajit Shah
    • Senior Citizens

      Govt. is only to extract taxes for its leaders. Senior Citizens get concessional or free welfare measures in a welfare state. Ours is a leaders govt. for its own welfare. Revenue hardly meets its l...

      By Vijay Agarwal
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)