Is Your Employer's Late Provident Fund Deposit Costing You Interest? Let's Discuss

Sir,

I have a query to ask. Our employer has a practice of not depositing provident fund contributions on time. This practice has been ongoing for the last 3-4 years. For example, our March contribution was deposited in July.

I just wanted to know if we are not aware, in that case, whether we employees are getting interest from the provident fund on our lately deposited contribution or not?

Hi Savita,

Nowadays, online enquiry of PF balance is shown when you log in to the EPFO employee account. Please check. If the employer is depositing funds late, they may be penalized by the EPFO for the delay.

Employees' contributions, if paid late by employers, are subject to a penalty imposed on the employer. Interest accrues annually, and every employer has the obligation to clear all contribution dues by the end of each financial year. In case of failures on the employer's part, there are provisions to initiate actions against defaulting employers.