Is There a Grace Period for PF Remittance? Understanding Late Payment Consequences

Grace Period for PF Remittance

Is there a grace period for PF remittance? As per the Act, the PF is to be remitted before the 15th of the month. In case the same is remitted after 2, 3, or 4 days, will it attract damages?

You will be receiving an interest charges demand letter after the completion of the financial year from the EPFO regional office for the delayed payment. The amount will be very nominal. Please pay it promptly to close the issue. However, avoid delaying the payment for too long as it may lead to penalties and damages. Some companies have had to sell their assets to pay the damages imposed by EPFO.

Please find attached an old circular dated April 28, 1964, which states that a grace period of 5 (five) days is allowed to remit the PF dues of the previous month. This circular remains valid to this day.