Respected All, Just wanted to know if any employer failed to pay PF in the EPFO portal before the 15th of the wage month but paid PF in EPFO after 1 or 2 months so is there any fine or late penalty?
From India, Delhi
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2From India, Delhi
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The EPFO has a provision of charging damages or penalty & interest for the delayed period of payment from the employers.
From India, Delhi
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From India, Delhi
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Non-payment of Employers Provident Fund (EPF) contributions on time might attract penalties and higher interest payments to employers. According to a Supreme Court ruling, employers are liable to cover damages if there is a delay in the payment of an employee's EPF contribution.
Employer Liability Under EPF Act
As per the Employee's Provident Funds and Miscellaneous Provisions Act, 1952, Section 7Q, the employer is liable to pay a higher interest rate on the amount due from him under the Act from the due date of actual payment. Under Section 14B of the same act, an employer's delayed payment of EPFO will be a cognizable offense. There is also a provision that authorizes the government to recover the damage caused due to non-payment from the employer.
From India, Madras
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Employer Liability Under EPF Act
As per the Employee's Provident Funds and Miscellaneous Provisions Act, 1952, Section 7Q, the employer is liable to pay a higher interest rate on the amount due from him under the Act from the due date of actual payment. Under Section 14B of the same act, an employer's delayed payment of EPFO will be a cognizable offense. There is also a provision that authorizes the government to recover the damage caused due to non-payment from the employer.
From India, Madras
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Online payment of PF mandatory from 1.1.2016.pdf