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Resolving a major issue between SBI and the firms filing PF returns, EPFO has said the bank will now issue receipts for cheques or drafts deposited by them, avoiding uncalled for penalties for late clearances.
"Employees' Provident Fund Organisation has finally been able to resolve a major problem of employers with regard to State Bank of India," an EPFO statement said.
SBI was not giving receipt of cheques or drafts that were being put in the bank's drop boxes.
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There were various instances of delays in clearance of cheques, following which EPFO imposed damages and interest on the employers concerned.
This issue was taken up personally by EPFO's Central Provident Fund Commissioner K K Jalan with the SBI chairman. The bank has now directed all its branches to issue receipt of cheques at the counter against deposit of PF dues, the statement said.
In case an employer faces any problem, the Additional Central Provident Fund Commissioners and Regional PF Commissioners at field offices of EPFO may be contacted for assistance, Jalan said in the statement.
