Blog Preview
Provident Fund Contribution payable of Seafarers
Applicable to:
All Shipping Companies
Effective Date:
Immediate
Superseded Circulars:
Notice dated 12.09.2020
Key Changes and Requirements
1. PF Contribution Timing
PF Contributions should be deposited as per Para 32 of SPF Scheme, 1966.
- Timely Deposit: Within 15 days from the date of final settlement of wages to seamen.
- Monthly Deposit: If PF is deducted monthly, it should be deposited monthly as well.
2. Compliance Direction
All companies are directed to deposit PF Contributions as and when PF is deducted from the wages of seafarers.
Important Note
Non-compliance may lead to penalties as per the SPF Scheme, 1966.
Want to learn and share your knowledge about the maritime world?
Explore the Blog app on Navvyx - Get maritime insights from across the world in one place.