Dear All,
15th of every month is the last day to deposit PF for last month. due to some reason though we have made cheque on 15/11/2012, we could not deposit it. Now we will deposit it on 16/11/2012.
Please tell me, what will be problems faced by us. do we need to pay any penalty for one day?
What will be immediate effects or effects at the time of annual returns?
Please reply asap.
Rgds, Geet

From India, Mumbai
Hi Geet,
Please go through this link
Executive HR

From India, Patna
Hai If Chq Payment 5 Days Grace Period Will Be There so Before 20Th Chq Should Get Cleared.
From India, Bangalore
As you know that 15th is last due date to submit EPF contribution but if you have reason to submit late than you may escape because after 15th 6 grace days are given. i.e. you can submit challan till 21th often not every month. that's way don't worry.

From India, Delhi
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
The 15th Nov. being closed for Banks you are well within the grace period. No penalty. No effect anywhere.
From India, Jaipur
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.)
From India, Chandigarh
Dear Geet,
One more thing i would like to add here ......... Please do not be so afraid of these pitty issues, 1 day late or 10 days late. I have seen in my 15 yrs of exp. that ground reality is that PF authority's stress always remain elsewhere at the time of inspections rather than on your late contributions. But still I will again appreciate if you adhere to your own compliance management and follow the deadlines.
Wish you best of luck !

From India, Mumbai
Hi All,
Please find the attachment
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

Attached Files
File Type: pdf GRACE PERIOD.pdf (61.5 KB, 428 views)
File Type: doc Kerala HC on due date of PF grace period.doc (39.5 KB, 229 views)

Dear Geet,
Normal grace period is 4-5 days only but not for frequently.on submission of late date depts computer starts calculating interest by penalty clause 7Q and damage by 14B.As well as after grace period if more days not paid then I.Tax dept.start raising penalty while on scrutiny of A/c.Means both side penalty.So it is better to pay at stipulated time only.

From India, Pune

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