Srilanka, March 25 -- Over 22,450 Government, Semi-Government and private sector institutions have defaulted on payment of a total of Rs. 36 billion to the Employees' Provident Fund (EPF) accounts of their staff, Labour Deputy Minister Mahinda Jayasinghe said yesterday.

While revealing the above, the Deputy Minister noted that the Government will take action against employers who have failed to pay monies due to the EPF.

He stressed that the outstanding amount due by defaulting firms to the EPF on behalf of their employees was a staggering Rs. 36 billion.

According to the EPF Act, an employee is required to contribute a minimum of 8 percent and the employer a minimum of 12 percent, of the total earning of the employee's monthly salary...