The companies with more than 15 employees must pay their employees’ remittances through Employers’ Trust Funds (ETF) via an online system from 1 February 2023, Finance State Minister Ranjith Siyambalapitiya said.
This is as per gazette notification issued by the q as Minister of Finance.
Objectives of establishing such online system is to secure the rights of the 2.8 million employees registered with the ETF Board, ensure transperancy.
The employees will have the right to check their ETF remittances online and an SMS will be sent to the respective employee to notify them of their ETF remittances.