Employees’ Provident Funds (Amendment) Scheme, 2024

Employees’ Provident Funds (Amendment) Scheme, 2024 – Penalty on default on contribution and transfer of accumulations: Notification dated 14.06.2024

MINISTRY OF LABOUR AND EMPLOYMENT
NOTIFICATION
New Delhi, the 14th June, 2024

G.S.R. 329(E).—In exercise of the powers conferred by section 5 read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Provident Funds Scheme, 1952, namely:-

1. Short title and Commencement.— (1) This Scheme may be called the Employees’ Provident Funds (Amendment) Scheme, 2024.
(2) It shall come into force from the date of its publication in the Official Gazette.

2. In the Employees’ Provident Funds Scheme, 1952, in paragraph 32A, for sub-paragraph (1), the following subparagraph shall be substituted, namely:-

“(1) Where an employer makes default in the payment of any contribution to the fund, or in the transfer of accumulations required to be transferred by him under sub-section (2) of section 15 or sub-section (5) of section 17 of the Act or in the payment of any charges payable under any other provisions of the Act or Scheme or under any of the conditions specified under section 17 of the Act, the Central Provident Fund Commissioner or such officer as may be authorised by the Central Government by notification in the Official Gazette in this behalf, may recover damages from the employer at the rate of one per cent. of the arrear of contribution per month or part thereof.”

[F. No. R-15011/01/2022-SS-II]
ALOK MISHRA, Jt. Secy.

Note : The Employees’ Provident Funds Scheme, 1952 was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number SRO. 1506 dated the 2nd September, 1952 and was last amended vide notification number G.S.R. 225(E), dated the 27th March, 2020.

Source: https://egazette.gov.in/