NEW DELHI, NOVEMBER 20 (MExN): The Employees’ Provident Fund Organisation (EPFO) has stated that an article which was published in a section of media on November 18 under the caption ‘EPFO subscribers, firms down in Oct’ contained “incorrect and unsubstantiated” information.
A press release issued through the PIB said the article claims a decline of 30,800 contributing establishments with EPFO in October from September 2020 and a simultaneous decline of 1.8 million contributing members in October as compared with the previous month.
“EPFO has emphasized that the dataset published regarding contributory members and establishments does not match with the official data of EPFO for any of the wage months mentioned. The data published is not based on EPFO’s data and is incorrect,” it stated.
EPFO’s official data regarding contributory members and establishment is published on 20th of every month in the form of payroll data. The payroll data for any wage month is taken after one month from due date for filing ECR.
It added that data for September, 2020 (due date Oct 15, 2020) shall be taken only on Nov 15, 2020 and that for October, 2020 (due date Nov 15, 2020) on Dec 15, 2020.The last Payroll data published on Oct 20, 2020 has shown that except for the month of April and May 2020, there has been a continuous growth trend in net payroll additions till August 2020.
In EPFO, the data regarding contributing members and contributory establishments is derived from the Electronic Challan cum Return (ECR) filed by the establishments for any particular wage month. The due date of filing of ECR is 15th of the subsequent month but employers may pay belatedly with liability of interest for period of delay.
“Due to this flexibility, to be able to file ECR even after due date, EPFO’s contributory member and establishment data for any wage mo nth remains dynamic. In this regard, concluding a count of contributory members and establishments for October, 2020 as on Nov 16, 2020 is premature and totally erroneous. Projection of incomplete data from unknown source without considering the dynamics nature of the data is highly objectionable,” EPFO added.