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The Employees' Provident Fund Organisation launched VISHWAS, 2026 with effect from 29 June 2026 to settle disputes over damages and penalties.
It is a one-time dispute resolution scheme that will remain open for six months.
Damages for defaults before 14 June 2024 are recalculated at reduced rates of 0.25%, 0.50% and 1% per month depending on the length of default.
Employers must first remit the entire interest payable under the EPF schemes before applying.
Applications are filed online through the EPFO Employer Portal using a Digital Signature Certificate or e-Sign.
When an employer fails to deposit provident fund contributions on time, two separate liabilities arise. Interest compensates for the delay itself and is payable on the amount withheld — it restores what the fund would have earned. Damages are penal, levied for the default as a breach of statutory obligation, and are assessed at rates depending on how long the default lasted. The distinction matters for this scheme, because VISHWAS 2026 touches only the penal component: an employer must already have paid the full interest before applying, and what the scheme recalculates at reduced rates is the damages. That design keeps the employees whole — no worker loses money the fund was owed — while giving the employer relief on the punitive element in exchange for ending the dispute.
Simple Analogy: Interest is the rent owed for holding money that was not yours. Damages are the fine for holding it. The scheme waives part of the fine but not a rupee of the rent.
Statutory body administering the provident fund, pension and insurance schemes for organised sector workers under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952
Financial Awareness > Social security, EPFO and regulatory schemes
General Awareness > Government schemes
GS Paper II > Welfare schemes and mechanisms for social sector development
General Awareness > Schemes and labour welfare
Consider the following statements: 1. The Election Commission of India is a five-member body. 2. Union Ministry of Home Affairs decides the election schedule for the conduct of both general elections and bye-elections. 3. Election Commission resolves the disputes relating to splits/mergers of recognised political parties. Which of the statements given above is/are correct?
Answer: 3 only
EPFO's one-time scheme, effective 29 June 2026 for six months, to settle damages and penalty disputes.
A penal levy for default in depositing provident fund contributions, distinct from interest.
Employees' Provident Fund Organisation, the statutory body administering provident fund, pension and insurance for organised sector workers.
EPFO's tripartite governing body, chaired by the Union Labour Minister.
An electronic signature service used, alongside Digital Signature Certificates, for authenticated online filings.