Hi,
Our company's 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) was remitted on 11-7-2023 with the wage month of June 2023. Every month, we remit accordingly.
Is there any wrong impact on EPF remittances by us on the wage month period? Kindly clarify.
From India, Chennai
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Our company's 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) was remitted on 11-7-2023 with the wage month of June 2023. Every month, we remit accordingly.
Is there any wrong impact on EPF remittances by us on the wage month period? Kindly clarify.
From India, Chennai
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Hi,
EPF contributions should be remitted on or before the 15th of every following month. You are currently making payments on the 11th of each month, so you are in a safe position. It seems there might be some confusion regarding the wage period.
Even though you process for the period 26-5-2023 to 25-6-2023, the actual salary period will only be from 1.6.23 to 30.6.23.
Any leave taken or loss of pay recorded from 26th May 2023 to 31st May 2023 will be reflected in the June 2023 salary. The early closure of the salary date is for payroll convenience and to ensure timely salary disbursement to employees.
From India, Madras
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1153EPF contributions should be remitted on or before the 15th of every following month. You are currently making payments on the 11th of each month, so you are in a safe position. It seems there might be some confusion regarding the wage period.
Even though you process for the period 26-5-2023 to 25-6-2023, the actual salary period will only be from 1.6.23 to 30.6.23.
Any leave taken or loss of pay recorded from 26th May 2023 to 31st May 2023 will be reflected in the June 2023 salary. The early closure of the salary date is for payroll convenience and to ensure timely salary disbursement to employees.
From India, Madras
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