Hello
A newly set-up company, due to purely administrative/operational reasons, could not deposit the dues in time for the first six months. After these months the dues have been paid religiously on time till date. The company also happens to be a respected brand in other parts of India but had to face this unfortunate penalty of interest & damages (under PF act) while setting up its base in Maharashtra with around 800 to 900 employees.
1) Is there any provision in PF Act or Scheme which provides for a waiver or any case law for companies who are established having genuine intention to pay on time but could not do so because of initial set-up issues (operational or administrative).
2) Who has the authority to waive off such interest or damages (whether partially or in totality) under the PF Act/Scheme.
Thanks in advance for your response
A newly set-up company, due to purely administrative/operational reasons, could not deposit the dues in time for the first six months. After these months the dues have been paid religiously on time till date. The company also happens to be a respected brand in other parts of India but had to face this unfortunate penalty of interest & damages (under PF act) while setting up its base in Maharashtra with around 800 to 900 employees.
1) Is there any provision in PF Act or Scheme which provides for a waiver or any case law for companies who are established having genuine intention to pay on time but could not do so because of initial set-up issues (operational or administrative).
2) Who has the authority to waive off such interest or damages (whether partially or in totality) under the PF Act/Scheme.
Thanks in advance for your response