India's EPFO introduces amnesty for delayed provident fund payments to boost job formalization.

The EPFO in India has approved an amnesty scheme allowing employers to deposit delayed provident fund payments without penalties. This initiative aims to encourage voluntary compliance, rectify past non-compliance, and promote employment generation by formalizing jobs. The scheme, recommended by the Central Board of Trustees, will support the Employment Linked Incentive Scheme announced in the budget, helping small businesses enroll in EPFO without additional financial burdens.

November 30, 2024
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