Hi, we are herewith attaching the PF damages under Section 14B and interest under Section 7Q calculation and a sample authority notification. Kindly go through the same and revert back if any clarification is required.
Rate for PF Damages & Interest for Late Deposit of Contribution
DAMAGES (14B)
MONTH RATE
LESS THAN 2 MONTHS 5%
MORE THAN 2 MONTHS BUT LESS THAN UP TO 4 MONTHS 10%
MORE THAN 4 MONTHS BUT LESS THAN UP TO 6 MONTHS 15%
6 MONTHS AND ABOVE 25%
INTEREST (7Q) 12%
From India, Bengaluru
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8Rate for PF Damages & Interest for Late Deposit of Contribution
DAMAGES (14B)
MONTH RATE
LESS THAN 2 MONTHS 5%
MORE THAN 2 MONTHS BUT LESS THAN UP TO 4 MONTHS 10%
MORE THAN 4 MONTHS BUT LESS THAN UP TO 6 MONTHS 15%
6 MONTHS AND ABOVE 25%
INTEREST (7Q) 12%
From India, Bengaluru
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PF INTEREST CALCULATION SHEET.xls
INTEREST RATE ON LATE DEPOSIT OF TDS.doc