SBI agrees to issue receipt of cheques

GUWAHATI, JANUARY 13: The State Bank of India has directed all its branches to issue receipt of cheques at the counter in their bank branches, against the deposit of Employees Provident Fund dues. A press note from the Central Provident Fund Commissioner informed that the Employees Provident Fund Organization has been able to resolve a major problem of employers, with regard to the State Bank of India. It informed that earlier, the SBI did not provide receipts for cheques/drafts deposited by employers at drop boxes in the bank’s branches. It added there were some instances of delay in clearance of cheques and that damages and interest had to be imposed by the EPFO, in delayed payment cases by the employers. As such, the issue was taken up by the Central PF Commissioner with the Chairman, State Bank of India, resulting in the SBI agreeing to provide receipts. The note further informed that in case employers face problems, they can contact the Additional Central Provident Fund Commissioners and the Regional Provident Fund Commissioners at the EPO field offices.