Can anyone explain about "What is the impact of PF contribution submission on alternate months by the employer for the same employee"? Is there any impact on the service year continuation of the employee or not? If there is an impact on them, then what is the solution for this?
From India, Ghaziabad
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From India, Ghaziabad
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Dear Mr. Ankit,
Please note that PF contributions have to be remitted based on the salary earned, i.e., on a monthly basis. You have not mentioned the rationale or logic behind remitting PF contributions on alternate months. Please revert with your exact query.
From India, New Delhi
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631Please note that PF contributions have to be remitted based on the salary earned, i.e., on a monthly basis. You have not mentioned the rationale or logic behind remitting PF contributions on alternate months. Please revert with your exact query.
From India, New Delhi
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In case you do not remit contributions by the 15th day of the following month, you contravene the act. You are liable to pay interest and damages for delayed payment.
Please understand that non-compliance of the PF Act is viewed very seriously by the authorities, and there are stringent punishments. Hence, drop the idea and remit contributions every month.
From India, Mumbai
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Please understand that non-compliance of the PF Act is viewed very seriously by the authorities, and there are stringent punishments. Hence, drop the idea and remit contributions every month.
From India, Mumbai
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf