Upcoming amendments of EOBI
Usman Hanif December 23, 2021 The SITE Association of Industry president stressed that collection targets issued by EOBI should be avoided and inspection of records should be done only once a year. photo: file KARACHI: The upcoming amendment of Employees Old-Age Benefits Institution (EOBI) Act will offer a self-assessment scheme (SAS) for the convenience of employers and to encourage contributions from them, revealed EOBI Chairman Shakeel Ahmed Mangnejo. Speaking at the SITE Association of Industry, the chairman underlined that the companies to be audited under the scheme would be selected through random balloting. “Along with employers, this scheme will also benefit employees,” Mangnejo pointed out. According to him, EOBI is currently paying Rs50 billion per annum to more than 400,000 pensioners. He suggested reporting harassment cases under Section 35 of the Act and added that the EOBI website already had a section for it. Regarding EOBI accounts, the chairman underlined that unaudit...