The retirement fund body which has over 6 lakh subscribers and manages a corpus of Rs. 6.5 lakh crore has allowed the small firms whose statutory contribution does not exceed Rs. 1 lakh are allowed to make payments of the Provident Fund dues of the employees though local cheques, banker™s draft till December 2015 this year.
The facility of remitting the payments in an offline mode has only been granted because of the reason that these small firms have smaller workforce and might not have internet options readily available.
However, these small employers have to pay dues electronically from January onwards.
Thereafter, it shall be mandatory for all the employers form 1st January, 2016 to make the payments electronically through internet banking.
