Hi, Our company payroll is processed from the 26th to the 25th of each month. We will remit EPF for this period on the subsequent month before the 15th. For example, 26-5-2023 to 25-6-2023 - Salary payroll processed (June 2023 salary) and credited on 30/6/2023.
EPF payment for the above period (June 2023) we remitted on 11-7-2023 with the wage month of June 2023. Every month we remitted accordingly. Is there any wrong impact on EPF remittances by us on the wage month period? Kindly clarify.
From India, Chennai
EPF payment for the above period (June 2023) we remitted on 11-7-2023 with the wage month of June 2023. Every month we remitted accordingly. Is there any wrong impact on EPF remittances by us on the wage month period? Kindly clarify.
From India, Chennai
Hi,
EPF contribution to be remitted on or before the 15th of every next month. You are paying on 11th of every month so you are on safer zone. I think you are confused with wage period.
Though you process for the period 26-5-2023 to 25-6-2023 the actual period of salary will be from 1.6.23 to 30.6.23 only.
Any leave availed or lop made for the period 26th May,23 to 31st May,2023 will reflect in June,23 salary. Early closing of salary date is payroll convenience and to credit salary on time for employees.
From India, Madras
947EPF contribution to be remitted on or before the 15th of every next month. You are paying on 11th of every month so you are on safer zone. I think you are confused with wage period.
Though you process for the period 26-5-2023 to 25-6-2023 the actual period of salary will be from 1.6.23 to 30.6.23 only.
Any leave availed or lop made for the period 26th May,23 to 31st May,2023 will reflect in June,23 salary. Early closing of salary date is payroll convenience and to credit salary on time for employees.
From India, Madras
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