To help exporting units tide over the impact of demonetization, the Apparel Export Promotion Council has asked for increased withdrawal limits and relaxation in rules for payment of statutory dues like PF, ESI and service tax for sometime.
According to a PTI report: The council has shared recommendations with the Government to facilitate transition towards digital payments and less cash usage, the exporters body said on Sunday.
It suggested exporting units be allowed a higher threshold of cash withdrawal for making payments to artisans, loaders, purchases for developing new samples and for payment towards small freight amount. Adequate cash should be made available at banks in key clusters. It also asked for opening bank accounts of workers in RMG export sector on basis of unique identity.
The account should be maintained in Employees Provident Fund Organisation in lieu of initiating a fresh KYC (Know Your Customer) requirement by the bank. Banks may be allowed to take PAN details of the employer.