Make disclosure before prescribe date or face penalty: PF department to Surat diamond firms

Surat: Provident Fund(PF) department has asked Surat diamond industry to make voluntary disclosure on non payment of PF before 31st March 2017. This directive applies to firms that have more than 20 employees in the period of 1 January 2009 to 31st December 2016. Such companies will need to make disclosure of nonpayment of PF and pay balance 12% PF. The company will not need to pay 12% share on employee’s part. Re. 1 penalty will need to be paid for each day of job of employee. If some company fails to make disclosure before prescribed date, it may face fine and 100% penalty. It should be mentioned that diamond industry in Surat has 4.5 lakh artisans but PF is deposited for only 25,000 employees. These details were shared by Regional PF Commissioner Pravin Tiwari.

DeshGujarat