Employees’ Deposit Linked Insurance (Amendment) Scheme, 2024

EPFO on 14th June, 2024 has issued the Employees’ Deposit Linked Insurance (Amendment) Scheme, 2024. The amendment provides that where an employer makes default in the payment of any contribution to the Insurance Fund, or in the payment of any charges payable under any other provisions of the Act or the Scheme, the Central Provident Fund Commissioner or such officer as may be authorized by the Central Government by notification in the Official Gazette in this behalf, may recover damages from the employer at the rate of one percentage of the arrear of contribution per month or part thereof.

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