EPFO files prosecution against five defaulting establishments

AHMEDABAD: The regional office of Employees Provident Fund Organization (EPFO) has filed prosecution against five defaulting establishments for non-compliance with statutory provisions of the EPF scheme. The action followed after these companies failed to seed bank account details of EPF members, a mandatory requirement of KYC seeding of Universal Account Number (UAN).
The companies against which prosecution has been filed include Jay Mataji Stitching Works, Sanand; Shree Gajanand Labour Contractor, Bavla; AFCONS Infrastructure Limited, Ahmedabad; Bodal Chemicals Ltd, Vatva and Balkrishna Textile Pvt Ltd, Narol.
Universal Account Number (UAN) was launched by EPFO to provide better facilities to EPF members, and establishments were directed to seed KYC details of members in order to operationalize UAN.
D Remmei, regional PF commissioner while confirming the development said that every employer will have to provide core banking account number with the IFSC code of the bank branch in respect with every new member on joining the fund.
“Even after repeated reminders some establishments failed to comply with the directions. The prosecution has been filed under Section 14 AC of EPF & MP Act. EPFO will initiate prosecution against other defaulting establishments in due course,” added D Remmei.
Employers were also required to furnish the information in respect of existing members by October 15, 2014 and in respect of previous members under its employment by October 31, 2014.