PF Cheque Deposit Timing: Will Late Clearing Dates Lead to Penalties?

We all know that the PF remittance has to be done by the 15th of every month. However, I would like to know if we submit the cheque on the last day (15th) with SBI bank well within clearing time (1300 Hrs) and the challan bears a clearing date of, let's say, the 19th or 20th, will the employer be subject to interest and damages?

Regards

As you know, the last date for PF remittance is the 15th of every month. However, the employer can submit the challan by the 20th of every month, which includes a 5-day grace period. No interest or damages will be charged from the employer if the employer submits the cheque on the last day, the 20th. If the employer submits the challan on or before the 15th, then they will receive a rebate under the Income Tax Act.

Thanks,
Amit Kumar

Please find the attached document. It will really help you to understand the grace period.

Regards, Amit Kumar