Actually, my question was not just about knowing the amount of interest. I want to understand the consequences if PF is not deposited on time. When can the PF inspector or PF Commissioner initiate proceedings against the employer? For instance, if the employer has deposited the employee's share, albeit delayed, and the employer's share has been pending for over a year, what types of proceedings may be initiated? Can a bank account be attached, and in that scenario, is it the duty of the bank to inform the party? If payment is made, can the bank account be made operative immediately, or does one have to wait for an order from the PF authorities? Are there any case laws or Supreme Court rulings on this matter?
Kindly enlighten me.
From India, Faridabad
Kindly enlighten me.
From India, Faridabad
Consequences of Delayed PF Deposits
There are different levels of action that can be taken by authorities if the PF amounts are not deposited in time. Starting from summoning the employer for a hearing to the prosecution of the employer can be effected. Bank attachments are followed in the initial steps.
Regards,
AVS
From India, Madras
There are different levels of action that can be taken by authorities if the PF amounts are not deposited in time. Starting from summoning the employer for a hearing to the prosecution of the employer can be effected. Bank attachments are followed in the initial steps.
Regards,
AVS
From India, Madras
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