Urgent!!
There has been no increment in salary.. but since the attendance regularization is flawed, the company pays arrears on pf every month.
Example Mr. X was absent for 2 days in may, his pf gets deposited for 28 days before due date in June, once management approves his attendance, the 2 days arrear on pf gets paid in the next due date i.e July month.. Would really appreciate if someone can let me know if this is correct.. Cuz i researched and found no exact definition for arrears as per PF act.
From India, Kolkata
There has been no increment in salary.. but since the attendance regularization is flawed, the company pays arrears on pf every month.
Example Mr. X was absent for 2 days in may, his pf gets deposited for 28 days before due date in June, once management approves his attendance, the 2 days arrear on pf gets paid in the next due date i.e July month.. Would really appreciate if someone can let me know if this is correct.. Cuz i researched and found no exact definition for arrears as per PF act.
From India, Kolkata
5
If you show the arrears paid along with the salary for the month no issue will be there. But if you show the contribution on this arrears separately then this will be regarded as omitted wages and delayed payment of contribution attracting interest and damages. Therefore, when you are paying contributions show it on actuals.
From India, Kannur
From India, Kannur
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PF Arrears Calculation July 12.xls
SC on interest on PF arrears 18.10.13.pdf