Our companies PF declared interest 2% less than declared by EPF,BECAUSE of lower returns.Our PF ORGANISATION which is recognised by Income Tax Authorities only, requested our Employer to replinsh the differential interest.But our Employer is refusing to compensate.
Pl help and suggest remedy.
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The company is rule bound to make good the gap of 2%. If they fail to do so the EPFO will initiate action on them and may even cancel the exemption. You may also represent to the EPFO that the employer is not paying you the statutory rate of interest.