We all know that the PF remittance has to be done by 15th of every month.
However I would like to know that if we submit the cheque on last day (15th) with SBI bank well within clearing time (1300 Hrs) & the challan bears a clearing date of lets say 19th or 20th, then will the employer be subject to interest & damages?

From India, Aurangabad
Dear Sunny,
As You Know That Last Date of PF remittance is 15th of every month. But Employer can submit the challan 20th of every month it includes 5 days grace period. No Interest & damages will charge from employer if the employer submit the cheque on last day 20th. if the Employer submit the challan on or before 15th then he will get rebate under income tax act.
Amit Kumar

From India, Chandigarh
Dear Friends, Please find the attached document it will really help to know about the grace period. thanks/regards, Amit Kumar
From India, Chandigarh

Attached Files
File Type: pdf GRACE PERIOD.pdf (61.5 KB, 414 views)

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