EDLI Scheme
One of the organizations opted to take policy from LIC to meet the statutory obligations. However, did not take exemption from the EPFO.
Now EPFO is demanding contribution with penalty/demurrage since the beginning.
What remedy is available to the employer who was never having any malafide intentions?
Regards,
From India, Delhi
9One of the organizations opted to take policy from LIC to meet the statutory obligations. However, did not take exemption from the EPFO.
Now EPFO is demanding contribution with penalty/demurrage since the beginning.
What remedy is available to the employer who was never having any malafide intentions?
Regards,
From India, Delhi
The organisation had opted a scheme of LIC but did not buy it and if bought it did not inform the EPFO. Without informing the EPFO how can the EPFO come to know that you have a better scheme than their EDLI? That means, the fault is yours. Then you should pay interest and damages as claimed by EPFO. There is no way out. It is cost of your gross negligence and you have to shoulder it by yourself.
From India, Kannur
From India, Kannur
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HDFC Gr Term Policy in lieu of EDLI 17.11.2014.pdf