Sop For Management And Regulation Of EPF Exempted Establishment

Posted On - 17 November, 2023 • By - King Stubb & Kasiva

The Standard Operating Procedure (SOP) pertains to the management and regulation of EPF (Employees’ Provident Fund) Exempted Establishments and supersedes all previous instructions and circulars. It outlines the compliance process for establishments that have received exemptions under the EPF Act to manage their Provident Fund for employees while ensuring that employee benefits are at least as favorable as those provided by EPFO (Employees’ Provident Fund Organization). The SOP applies to exempted establishments operating under the EPF Act, 1952, and describes EPFO’s methodology for monitoring and regulating their compliance. The forms detailing the Trust Fund’s Balance Sheet and Third-Party Audit format, are to be prepared separately.