Written by
Admin
Written by
Admin
Post date
Jul 12 2024
This Standard Operating Procedure (SOP) standardizes the administrative procedures for surrender of EPF Exemption & supersedes all extant procedures and circulars from the date of effect of this SOP.
The resposibilities of establishment for the surrender of EPF exemption includes:
(i)To decide about the prospective date of surrender well in advance.
(ii)To prepare a complete list of its PF Trust beneficiaries; with and without KYC details
as on the date of surrender.
(iii)To get a Third-Party Audit done in consultation with RPFC for funds to be
transferred to EPFO on the desired date of surrender
(iv) To transfer the PA dues to the CBT as per the provisions of Section 17(5) read with
Para 28 of the Scheme
(iv)To undertake to resolve any grievance pertaining to the period prior to surrender.
The specific procedure for the surrender of exemption is that the establishment shall submit an application in FORM SE-1 addressed to the appropriate Government indicating its intention to surrender the exemption granted to it from a prospective date, to the RPFC both by an email and by registered post. The application may be submitted at least 30 days prior to the date of surrender for scrutiny of the proposal.
This update has been taken place on 13/08/2024 by the Employees Provident Fund Organisation. You can reach to the official notification through the below link.