Central Bank of Sri Lanka : Register For Employees’ Provident Fund (EPF)

Organisation : Central Bank of Sri Lanka
Facility Name : Register For Employees’ Provident Fund (EPF)
Applicable For : Employees
Country : Srilanka
Website : https://epf.lk/?p=163

What is Central Bank of Sri Lanka EPF?

The Employees’ Provident Fund (EPF) is currently the largest and most widespread Social Security Scheme in Sri Lanka, Implemented by Central Bank of Sri Lanka. The EPF is a little ‘Peace of Mind’ for the employees of Private Sector firms, State Sponsored Corporations, Statutory Boards and Private Business. The aim of the EPF is to assure financial stability to the employee in the retirement stage of life and to reward the employee for his or her role in the economic growth of the country.

How to register the employer in the EPF?

Regardless of the nature and the category of your business, an employer having even one employee is legally bound to pay contributions to Employees’ Provident Fund (EPF). Within 14 days of the recruitment of the first employee, “FORM-D” should be filled in duplicate, certified and sent via registered post to the nearest Labour Office or directly to the Commissioner of Labour.

A registration number will then be provided which starts with two letters of the English Alphabet indicating the administrative district, and the employer has to use the said number for all EPF queries relevant to his/her employment.

** The employer has to obtain the Employer Registration Certificate from the Department of Labour (LD).
** As a practice, LD sends the details of newly registered employers to EPF Department (EPF/CBSL) to update employer details.
** Before making EPF contributions for their employees, every employer should ensure whether their details are available in EPF database maintained at the Central Bank (CBSL)

Amending the employer details:
** A written request should be made by the employer to the EPF Department through LD to change name of the employer / permanent address or to inactivate the employer in the EPF Department’s database.
** To change the postal address, an employer should directly make a written request to the EPF Department.

Exemptions for paying EPF contributions:
Following entities will be given an exemption for paying EPF contributions:
** If the establishment is a social service organization providing technical training for minor offenders, destitute, deaf and blind.
** A charity organization with less than ten (10) employees.
** The household employees are not required to make contributions to the EPF up-to now.

Registration of members with EPF

** Register new employees in the LD within 14 days of his/her recruitment.
** Provide ‘A’, ‘B’, ‘H’ forms to new employees and duly submit accurately filled forms to the Labour Department with the details of NIC in registration.
** Assign member numbers in numerical order and avoid duplication of numbers.
** Obtain the “B” Cards signed by Commissioner of Labour and provide a “B” Card to every employee.
** Corporate with employees if the employee needs to amend employee details.
** Inform the Employees’ Provident Fund (EPF) Department if the employee resigns/ retires/ leaves the company.
** Make the members aware of the procedure of obtaining another “B” Card if their former “B” Cards have been misplaced.

FAQ For Employers

Frequently Asked Questions FAQ For Employers

What components to be excluded when calculating Total Earnings?
** Overtime payment
** Reimbursable Traveling expenses
** Incentive payments/ Bonus Payment

What is the deadline to send the monthly EPF contributions to EPF department of Central Bank of Sri Lanka?
EPF contribution for each month should be made on or before the last working day of the following month. Otherwise, surcharges will be imposed against the employer according to the delay.

Who is responsible for remitting EPF contributions to EPF Department?
The employer has the responsibility of paying EPF contributions for each employee under its employment. The employer is not absolved from this responsibility even on the ground of the employee’s unwillingness to contribute for EPF.

What institutes have exemptions for paying EPF Contributions?
** If the establishment is a social service organization providing technical training for minor offenders, destitute, deaf and blind.
** A charity organization with less than ten (10) employees.
** The household employees are not required to make contributions to the EPF up to now.

What are the legal actions for under payment or non-payment of EPF contributions?
The employee reserves the right to make a written complaint to the Commissioner of the Labour. On the receipt of the complaint and after proper investigation, the employer will be informed and warned to pay the dues. If the employer does not fully cooperate and pay the contributions after three warnings, the Labour Department will be forced to take legal action against the employer to safeguard the rights of the employee.

What are the consequences of non-payment of contributions?
Due amount shall be recoverable by considering such amount as a debt to the State.