Centre brings amnesty scheme for PF Trusts to regularise their status

The government has introduced an amnesty scheme to regularize the status of provident fund trusts, ensuring they receive recognition under the Income Tax Act, 2025, provided they secure exemption under Section 17 of the 1952 Act. This move aims to bring transparency and compliance in the management of provident funds, which are crucial for the retirement savings of millions of workers. By addressing the legal ambiguities and promoting orderly governance, the scheme underscores the government's commitment to financial integrity and worker welfare.