The Employees Provident Fund Organisation (EPFO) has initiated a close scrutiny of 433 companies and establishments for possible defaults in provident fund management of their employees and asked its field offices to start a quick audit on their financial health.
The 433 organizations, who run their own provident fund (PF) trusts, have been put under scanner after EPFO’s internal mechanism to track companies on PF compliance found that they have not filed PF returns of February 2018 for their employees, according to a government official and an internal circular that EPFO has issued to its field offices. They comprise nearly 15% of exempted establishments. Exempted establishments are those who run their own PF trusts under the overarching rules of EPFO.
