I have a question if the Employer is not depositing the Provident Fund Contribution (Both Employee & Employer) within time, in such case whether employees will get the interest on PF for the delayed period. If anyone has any documents related to this kindly provide them.
Regards,
From India, Madras
3Regards,
From India, Madras
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
+2 Others
Dear San Sri, Yes The Employee will receive Interest on His PF Amount though the payment was delayed.
From India, Surat
From India, Surat
Dear employees will definitely eligible for interest, EPF authority always generate the faulty employer list, means who are not submitting the returns within the due date, if you are faulty employer then EPF authority will conduct the audit your establishment.
Thanks & Regards
Deepak Patil
From India, Pune
Thanks & Regards
Deepak Patil
From India, Pune
I am not sure whether interest is paid by P.F Dept. for the period of delay in paying contribution but the P.F authorities can levy interest and damages for the period of delay on the contributions thus defaulted by the employer under the provisions of the P.F Act
B.Saikumar
From India, Mumbai
B.Saikumar
From India, Mumbai
Getting interest on PF amount by the employee will go as usual in case of the management delays the deposit.
The PF authorities will take care of collecting interest on delayed payment form the Employer.
From India, Hyderabad
The PF authorities will take care of collecting interest on delayed payment form the Employer.
From India, Hyderabad
Dear Friend,
In response to your query , I am to confirm that employees will get his due interest from PF Authorities inspite of the fact that employer has failed to deposit the monthly PF contribution in time, i.e, within 15th of the month.
For the delayed payment, the EPFO will issue show cause notice to the employer with regard to interest and damages at the end the financial year when PF account of all employees are finalized and Form 23 is generated. If the reply in response to the show cause notice is not satisfactory, the EPFO will charge interest for delayed payment as well as damages as per provision of the Act.
In any event the employee will not be prejudiced in the matter of interest to be receivable.Hope it is clear to you.
Sibabarata Majumdar
Management Consultant Legal & HR
Kolkata,Mb:9830023706
From India, Calcutta
In response to your query , I am to confirm that employees will get his due interest from PF Authorities inspite of the fact that employer has failed to deposit the monthly PF contribution in time, i.e, within 15th of the month.
For the delayed payment, the EPFO will issue show cause notice to the employer with regard to interest and damages at the end the financial year when PF account of all employees are finalized and Form 23 is generated. If the reply in response to the show cause notice is not satisfactory, the EPFO will charge interest for delayed payment as well as damages as per provision of the Act.
In any event the employee will not be prejudiced in the matter of interest to be receivable.Hope it is clear to you.
Sibabarata Majumdar
Management Consultant Legal & HR
Kolkata,Mb:9830023706
From India, Calcutta
Hi This is Tanu and i m handling the compliance in my company. From last 4 months we have not submitted the EPF contribution and we have received multiple SHOW CAUSE NOTICE .
Now the status is, we have already created the challans for the last 4 months and payment will made in the next week.
Please suggest what to reply as i am stuck here.
From India, Noida
Now the status is, we have already created the challans for the last 4 months and payment will made in the next week.
Please suggest what to reply as i am stuck here.
From India, Noida
Hi This is Santosh kumar and i m handling the compliance in my company. From last 4 months we have not submitted the EPF contribution and we have received multiple SHOW CAUSE NOTICE .
Now the status is, we have already created the challans for the last 4 months and payment will made in the next week.
Please suggest what to reply as i am stuck here
From India, Delhi
Now the status is, we have already created the challans for the last 4 months and payment will made in the next week.
Please suggest what to reply as i am stuck here
From India, Delhi
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INTEREST RATE ON LATE DEPOSIT OF TDS.doc
HC All - Trainees not covered for PF -2010.pdf