EPFO launches "Vishwas 2026" scheme for amicable settlement of provident fund disputes
The Employees' Provident Fund Organisation (EPFO) has introduced "Vishwas 2026," a one-time dispute resolution scheme effective from June 29. This initiative aims to facilitate the amicable settlement of disputes related to damages or penalties levied on employers under Section 14B of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, and Section 128 of the Code on Social Security, 2020. The scheme promotes voluntary compliance, reduces litigation, and ensures speedy resolution of long-pending cases through a transparent, fully digital, and time-bound process, while safeguarding employees' interests.
Key Points
- EPFO has launched "Vishwas 2026," a one-time dispute resolution scheme.
- The scheme aims to settle disputes regarding damages or penalties levied on employers.
- It promotes voluntary compliance and reduces litigation in provident fund cases.
- The process is designed to be transparent, fully digital, and time-bound.
- The scheme recalculates damages at reduced rates based on the duration of default.
Exam Facts
- Scheme name: Vishwas 2026.
- Launched by: Employees' Provident Fund Organisation (EPFO).
- Effective date: June 29.
- Relevant Acts: Section 14B of EPF and MP Act, 1952; Section 128 of Code on Social Security, 2020.
- Scheme duration: six months.
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