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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2679

Proper filling of EPF forms, avoids payment delays

By Quintus Perera – Asian Tribune

Colombo, 05 April, ( Whatever the category or the nature of business is, even if one employee is recruited, that business is legally bound to pay contributions to the EPF Fund, said WJ U L Wijayawera, Commissioner General of Labor addressing a Workshop on EPF/ETF organized by the National Chamber of Commerce and Industry. However, few are exempted.

Reaching 55 years and leaving the employment enables the employee to withdraw the funds, but due to completion deficiencies such as the thumb impression getting smudged or simply entering an incomplete name large number of EPF claimants or their nominees have to struggle to obtain their due funds and in announcing this, W J L U Wijayaweera, Commissioner General of Labor had the audacity to say that there were cases of such delays going up to 20 years.

Mr Wjayaweera was speaking at a Seminar of EPF/ETF organized by the National Chamber of Commerce of Sri Lanka (NCCSL) in its auditorium.

He said that whatever the category or the nature of the business, even if one employee is recruited the employers are legally bound to make contributions to the EPF Fund.

He said that issues crop up in providing the membership numbers as now each time the employee changes the employment a separate number is assigned and in many cases the change of employment is not notified by the employee to continue the account under his name.

The other mistake is that though the EPF account holder could nominate anyone, it has become mandatory for the Account Holder to nominate somebody within the family, such as the spouse, mother or father or brothers and sisters, after their marriage. He said that many fail to do this change.

He said that lots of issues crop up after the demise of EPF holder as to determine the legal heirs to the claim, specially in cases of EPF holders fail to change the nominees after their marriage.

He indicated that there are only 2.3 million active EPF accounts as against 9.2 million inactive accounts, indicating either some of them are unemployed or some of them default contributions.

When he said that not only directors of companies but also top managers could be held liable for non-contribution to EPF and to be prosecuted, a participant inquired that those managers do not have deciding power and the cheques would be signed by directors and what would be the situation, in cases of directors refusing to sign those EPF payment cheques.

Mr Wijayaweera said that they would use their discretion to determine the situation.

He said that they are now contemplating to assign one number throughout, to eliminate some of the debacles now faced.

- Asian Tribune -

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