EPFO Launches ‘Vishwas Scheme’ to Reduce Litigation

Recently, the Employees’ Provident Fund Organisation (EPFO) launched the ‘Vishwas Scheme’ under the guidance of Dr. Mansukh Mandaviya. The scheme aims to reduce litigation by rationalising penal damages on delayed PF contributions. Penal rates are capped at 1% per month, with graded rates of 0.25% for up to 2 months and 0.50% for up to 4 months of delay. It covers ongoing, finalized, and pre-adjudication cases and will remain in operation for six months, extendable by another six. The initiative benefits both employers and members by simplifying compliance, reducing legal costs, and ensuring faster recovery of dues.