Dear All,
The 15th of every month is the last day to deposit PF for the previous month. Due to some reason, although we issued a cheque on 15/11/2012, we could not deposit it. We are planning to deposit it on 16/11/2012.
Could you please inform us about the possible problems we might face? Do we need to pay any penalty for the delay of one day? What will be the immediate effects or implications at the time of annual returns?
Your prompt response is highly appreciated.
Best Regards,
Geet
From India, Mumbai
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4The 15th of every month is the last day to deposit PF for the previous month. Due to some reason, although we issued a cheque on 15/11/2012, we could not deposit it. We are planning to deposit it on 16/11/2012.
Could you please inform us about the possible problems we might face? Do we need to pay any penalty for the delay of one day? What will be the immediate effects or implications at the time of annual returns?
Your prompt response is highly appreciated.
Best Regards,
Geet
From India, Mumbai
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Hi Geet,
Please go through this link https://www.citehr.com/427744-penalt...-new-post.html.
Regards,
Ankita
Executive HR
From India, Patna
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Please go through this link https://www.citehr.com/427744-penalt...-new-post.html.
Regards,
Ankita
Executive HR
From India, Patna
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Hai If Chq Payment 5 Days Grace Period Will Be There so Before 20Th Chq Should Get Cleared.
From India, Bangalore
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From India, Bangalore
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Hi Kashyap,
As you know, the 15th is the last due date to submit EPF contributions. However, if you have a valid reason for submitting late, you may be excused because after the 15th, six grace days are given. This means you can submit the challan until the 21st, but not every month. That's why you shouldn't worry.
Regards,
Geet
From India, Delhi
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As you know, the 15th is the last due date to submit EPF contributions. However, if you have a valid reason for submitting late, you may be excused because after the 15th, six grace days are given. This means you can submit the challan until the 21st, but not every month. That's why you shouldn't worry.
Regards,
Geet
From India, Delhi
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Hellow You Can See IT Act Manual It is Clear That Pf Payment is 15 Th Last Date and Grace Period Is 5 Days Because of Chq Payment ie,,. 20 Th Last .
From India, Bangalore
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From India, Bangalore
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The 15th Nov. being closed for Banks you are well within the grace period. No penalty. No effect anywhere.
From India, Jaipur
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From India, Jaipur
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there is a grace period of 5 days i e upto 20th in case it could not be deposited by 15 th. A K Chandok RPFC (Retd.) www.akchandok.com
From India, Chandigarh
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From India, Chandigarh
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Dear Geet,
One more thing I would like to add here... Please do not be so afraid of these petty issues, whether 1 day late or 10 days late. In my 15 years of experience, I have observed that the ground reality is that the PF authorities' focus during inspections is usually elsewhere rather than on your late contributions. However, I would still appreciate it if you adhere to your own compliance management and meet the deadlines.
Wishing you the best of luck!
RK
From India, Mumbai
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One more thing I would like to add here... Please do not be so afraid of these petty issues, whether 1 day late or 10 days late. In my 15 years of experience, I have observed that the ground reality is that the PF authorities' focus during inspections is usually elsewhere rather than on your late contributions. However, I would still appreciate it if you adhere to your own compliance management and meet the deadlines.
Wishing you the best of luck!
RK
From India, Mumbai
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Hi All,
Please find the attachment
Ankita
Executive HR
“A candle loses nothing by lighting another candle"
In other words, be willing to help others and share your knowledge and insights with others who may benefit
From India, Patna
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Please find the attachment
Ankita
Executive HR
“A candle loses nothing by lighting another candle"
In other words, be willing to help others and share your knowledge and insights with others who may benefit
From India, Patna
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Dear Geet,
The normal grace period is 4-5 days only, but not for frequent delays. Upon submission after the due date, the department's computer starts calculating interest based on penalty clause 7Q and damages under 14B. Moreover, if the payment is further delayed beyond the grace period, the Income Tax department begins imposing penalties during the account scrutiny. This implies that penalties are applicable from both sides. Therefore, it is advisable to make payments within the stipulated time to avoid any additional charges.
Regards,
JACL
From India, Pune
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The normal grace period is 4-5 days only, but not for frequent delays. Upon submission after the due date, the department's computer starts calculating interest based on penalty clause 7Q and damages under 14B. Moreover, if the payment is further delayed beyond the grace period, the Income Tax department begins imposing penalties during the account scrutiny. This implies that penalties are applicable from both sides. Therefore, it is advisable to make payments within the stipulated time to avoid any additional charges.
Regards,
JACL
From India, Pune
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls