GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
1-min read

EPFO: Firms can Pay Dues, Update Ownership Details Online

Employees' Provident Fund Organisation (EPFO) has discontinued the physical submission of the form.


Updated:January 30, 2018, 8:35 PM IST
EPFO: Firms can Pay Dues, Update Ownership Details Online
File image of Employees' Provident Fund Organisation office. (Image: PTI)
New Delhi: Taking another step towards going paperless, retirement fund body EPFO on Tuesday said it has launched facilities for employers to pay dues and update ownership details online.

Employees' Provident Fund Organisation (EPFO) has provided facility of online submission of Form 5A (Return of Ownership), it said in a statement.

EPFO added it has discontinued the physical submission of the form.

Earlier, the employers had to submit a physical copy of Form 5A to the concerned EPFO field office upon new registration of establishment and whenever there was any change in ownership details.

Now, employers can update Form 5A online and submit with e-signature. This will not only reduce the unnecessary paperwork but also avoid visits to EPFO field offices.

EPFO has also launched the facility for online payment of Section 14B and Section 7Q dues.

It said that for facilitating ease of doing business, it has launched the online functionality for calculation and payment of damages under Section 14B and interest under Section 7Q against belated remittances.

If an employer makes payment of dues after the due date, he/she is liable to pay damages (under Section 14B) and interest (under section 7Q).

So far, the EPFO used to send the notices to employers under Section 14B and Section 7Q against their belated payments.

Under the new functionality for belated payment, the employer can select the cases where he/she wants to make payment immediately.

The system will generate auto challan. The employer can know the 14B and 7Q dues immediately and make the payment accordingly, thereby avoiding the requirement of visits to EPFO field offices, it added.

Also Watch

| Edited by: Huma Tabassum
Read full article
Most Active
Company Price Change %Gain
Ashok Leyland 105.70 -4.85 -4.39
Mindtree 971.15 -90.65 -8.54
Bajaj Finance 2,520.20 +31.45 +1.26
Tata Steel 498.65 -5.60 -1.11
Kotak Mahindra 1,347.40 -51.15 -3.66
Company Price Change %Gain
RBL Bank 555.00 -9.95 -1.76
Ashok Leyland 106.25 -4.35 -3.93
Reliance 1,112.30 +21.75 +1.99
Tata Steel 498.50 -6.20 -1.23
Bajaj Finance 2,513.05 +25.00 +1.00
Top Gainers
Company Price Change %Gain
Titan Company 869.85 +23.65 +2.79
Vedanta 208.20 +4.50 +2.21
Yes Bank 392.30 +8.65 +2.25
Reliance 1,104.85 +12.30 +1.13
Bharti Airtel 345.00 +8.20 +2.43
Company Price Change %Gain
Vedanta 208.25 +4.45 +2.18
Yes Bank 392.00 +8.20 +2.14
Reliance 1,112.30 +21.75 +1.99
Bharti Airtel 342.50 +5.70 +1.69
ITC 272.60 +4.30 +1.60
Top Losers
Company Price Change %Gain
Hindalco 197.60 -14.80 -6.97
Bharti Infratel 285.30 -13.95 -4.66
Kotak Mahindra 1,347.40 -51.15 -3.66
Larsen 1,258.10 -34.05 -2.64
Cipla 610.10 -17.30 -2.76
Company Price Change %Gain
Kotak Mahindra 1,345.50 -56.55 -4.03
Larsen 1,263.45 -25.70 -1.99
Tata Steel 498.50 -6.20 -1.23
Hero Motocorp 3,459.00 -42.50 -1.21
Sun Pharma 544.00 -5.55 -1.01