The Hindu Business Line : SEZs exempted from ESI, EPF payments

THE Government has extended a major sop to units in Special Economic Zones (SEZs) by exempting them from payment of statutory dues like contribution to the Employees' Provident Fund (EPF) and the Employees' State Insurance (ESI) for a period of five years.

"We have taken a decision to exempt units in SEZs from payment of statutory dues for a five-year period covering ESI and EPF obligations," the Union Labour Minister, Mr Sahib Singh Verma, said at an employee relations conference organised by the Standing Conference of Public Enterprises (SCOPE) here on Thursday.

The notification was issued on Wednesday and the first State that could enjoy the concessions is Gujarat, where the Positra SEZ promoted by Sea King Infrastructure Ltd is coming up.

The units in the SEZ would be eligible for the exemptions, provided they implement their own schemes without compromising on the social security of the workers, Mr Verma said.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Reliance not to stop roaming-like services

Steel price rise: Govt won't step in

Marlboro comes to India

Tata Motors shareholder? Here's an offer
Get car loans from the company at sub-6 pc interest rate

Vedanta of Sterlite group to be listed on London bourse — Plans to raise $700 m via public offer

SEZs exempted from ESI, EPF payments