If you can post the answers to the following questions I can analyze what is happening and perhaps suggest some causes and solutions.
For the 2-minute interval between cycles, how many seconds is the pump running each cycle?
How many gallons of water are pumped each cycle?
What is the diameter of the basin?
How many and how large are the holes that are admitting water to the basin? How far are they from the bottom of the basin?
How high is the water outside of the basin, above the water level in the basin when the pump cycle stops?
How many inches of water are removed with each cycle (change in height between start and stop)?
Can you see where the water is discharging so you know that is isn't running back to the sump? Is it being discharged so it runs away from the foundation?
Is there any evidence that the check valve, which should be near the pump, is allowing leakage back into the basin?
Is there melting snow or surface runoff that is saturating the ground?
Are there any streams or ditches nearby with water running or standing in them?
Does the ground surface slope down toward the house?