The Employees Provident Fund Organisation (EPFO) has introduced new electronic challan-cum return (ECR) system for depositing contributions with effect from April. The new system will bring various advantages in the operations,said a EPFO press release.
The system will have automatic updation of accounts on receipt of contribution by EPFO and the employers can download annual accounts slips for their employees from 2010- 11 onwards from EPFO website. There is no need to file returns in the form 5,10,3A,6A,12A by un-exempted establishments and 3PS,4PS,5PS,6PS,7PS,8PS forms by exempted establishments. There will be no need for annual updation of accounts and annual account slips will be available for download starting 2010-11 . There will be auto updation of basic details of new members and exit details of exiting members. Besides,members can also get detailed account statements with all credits and debits from the website with effect from May 1, said provident fund commissioner A M Bhosale.
For utilising the new system,all the employers are required to obtain a user ID and password by logging on to EPFO website http://www.epfindia.gov.in.