Under VISHWAS, 2026, damages or penalty for defaults pertaining to the period prior to June 14 2024 shall be recalculated at substantially reduced rates, namely 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, the ministry of of labour and employment said on Friday.

EPFO's 'VISHWAS 2026' scheme offers a six-month digital solution for employers to resolve penalty disputes and enhance compliance.

Under VISHWAS, 2026, damages or penalty for defaults pertaining to the period prior to June 14 2024 shall be recalculated at substantially reduced rates, namely 0.25% per month…