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News: EPFO has launched VISHWAS, 2026, as a one-time dispute resolution initiative for settlement of damages and penalty-related disputes under EPF laws.
About VISHWAS, 2026
- VISHWAS, 2026 is a one-time dispute resolution initiative to facilitate amicable settlement of damages and penalty-related disputes.
- Launched by: The Employees’ Provident Fund Organisation (EPFO) under the Ministry of Labour & Employment launched the scheme.
- Objective: The scheme aims to promote voluntary compliance, reduce litigation, enable speedy resolution of long-pending disputes, and safeguard the interests of employees.
- Timeline: The scheme came into effect on 29 June 2026 and will remain operational for six months from the date of notification.
- Four categories:
- Cases where penalty or damages orders are under challenge before a judicial forum.
- Final penalty or damages orders where recovery is pending or partly made, including Recovery Certificate (RRC) cases.
- Cases where notices have been issued but final penalty or damages orders are yet to be passed.
- Cases where notices for penalty or damages are yet to be issued.
- Exclusion: The scheme excludes fully recovered cases, cases involving fraud, misappropriation or deliberate falsification of records, and cases where statutory interest has not been fully deposited.
- Key features:
- Digital and time-bound process: Eligible employers can apply online through the EPFO Employer Portal using a Digital Signature Certificate (DSC) or e-Sign through a transparent, fully digital and time-bound process.
- Concessional rates: For defaults before 14 June 2024, damages or penalty will be recalculated at 0.25% per month for defaults up to two months, 0.50% per month for defaults from two to less than four months, and 1.00% per month for defaults exceeding four months.
- Interest requirement: Employers must fully deposit the applicable statutory interest before submitting an application.
- Undertaking: Applicants must furnish an undertaking that no further appeal will be pursued for the dispute settled under the scheme.
- Compliance benefit: The scheme enables employers to regularise legacy EPF compliance at a significantly lower financial cost while supporting quicker resolution of long-pending disputes and improved compliance.
