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Dear Sir,
Please help me to know, if employer fail to submit their pf contribution for the month due to some account or other issues and he want to submit contribution in the next month then what would be charges of penalty from epfo.
From India, Ghaziabad
Dear Raj, Belated Remittance of EPF Contribution attracts interest @12% Per Annum.In addition to interest, Penalty will also be imposed based on duration of belated payment
From India, New Delhi
Dear Raj
The PF contribution is payable by 15th of the following month. In case of delayed remittance interest @ 12% per annum is payable. If interest is not paid the PF authorities can initiate proceeding under Section 7Q of the Act.
In addition they can also initiate proceeding under Section 14B and claim damages depending upon the number of days default in remittance.
From India, Kolkata
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