Management Consultants Legal & Hr
Legal Advisor
Hr Manager
+3 Others

Thread Started by #san_sri2000

I have a question, if 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 delayed period. If any one has any documents related to this kindly provide.
29th April 2014 From India, Madras
Dear San Sri, Yes The Employee will receive Interest on His PF Amount though the payment was delayed.
29th April 2014 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
29th April 2014 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
29th April 2014 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.
30th April 2014 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
2nd May 2014 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.
12th October 2018 From India, Noida
Reply (Add What You Know) Start New Discussion

Cite.Co - is a repository of information and resources for business and professional growth. Register Here
Prime Sponsor: TALENTEDGE - Certification Courses from top institutes like IIM / XLRI direct to device (online digital learning)

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2017 Cite.Co™