EFP Interest and Damages Calculation
Interest: 12%
Damages:
- Less than 2 months: 5%
- 2-4 Months: 10%
- 4-6 Months: 15%
- Above 6 months: 25%
If paid in April, 18-month EPF paid on 11/6/18.
Wages Due Date Paid Date Delay Days Account No Remittance Paid Damages 14B Interest 7Q Total Int Month
Apr-18 15-05-2018 11-06-2018 27 AC No:1 3565 13.18562 31.64548 45
AC No:2 500 1.849315 4.438356 6
AC No:10 1895 7.008904 16.82137 24
AC No:21 114 0.421 1.0119 1
AC No:22 0 0 0 0
Total Damages and Interest: 76
Interest Calculation = 7Q = Remit Amount * Delay Date / 365 * 12%
Damages Calculation = 14B = Remit Amount * Delay days / 365 * Damages % (5, 10, 15, or 25%)
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Interest: 12%
Damages:
- Less than 2 months: 5%
- 2-4 Months: 10%
- 4-6 Months: 15%
- Above 6 months: 25%
If paid in April, 18-month EPF paid on 11/6/18.
Wages Due Date Paid Date Delay Days Account No Remittance Paid Damages 14B Interest 7Q Total Int Month
Apr-18 15-05-2018 11-06-2018 27 AC No:1 3565 13.18562 31.64548 45
AC No:2 500 1.849315 4.438356 6
AC No:10 1895 7.008904 16.82137 24
AC No:21 114 0.421 1.0119 1
AC No:22 0 0 0 0
Total Damages and Interest: 76
Interest Calculation = 7Q = Remit Amount * Delay Date / 365 * 12%
Damages Calculation = 14B = Remit Amount * Delay days / 365 * Damages % (5, 10, 15, or 25%)
Ensure there is a single line break between paragraphs. If there are multiple line breaks, reduce them to one.
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