New amnesty scheme for PF defaulters

 The scheme proposes that establishments, which pay their outstanding dues along with interest within one month of the date of notification of the amnesty scheme, be exempted from the payment of penalty.

 If the establishments pay their dues in the second month, they will be required to pay up to 50 per cent of their penalty amount, officials said. Outstanding dues to the EPF amount to almost Rs 1,500 crore and Rs 600 crore is the outstanding on account of non-levied interest and penalties.

 The EPFO has launched a drive to recover the dues and encourage compliance among the defaulters.

 As part of the drive, it has also decided to award organisations that are prompt with PF payments. It has constituted