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Is there grade period towards PF remittance. As per Act the PF is to be remitted before 15th of the month. I ncase the same is remitted after 2 /3 or 4 days, will it attract demurrages ?
24th February 2015 From India, Hubli
You will be getting an interest charges demand letter after completion of financial year from EPFO regional office for the delayed payment.
That will be very nominal. Pay it and close the issue. But never delay it long which will put you in trouble for penal damages. To pay the damages imposed by EPFO, some companies sold their assets and paid.
25th February 2015 From India, Chennai
PFA an old circular dated 28 04 1964 as per which a grace period of 5 (five) days are allowed to remit the PF dues of the previous month. This circular is valid even now.
3rd March 2015 From India, Bangalore
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