Hello
We all know that the PF remittance has to be done by 15th of every month.
However I would like to know that if we submit the cheque on last day (15th) with SBI bank well within clearing time (1300 Hrs) & the challan bears a clearing date of lets say 19th or 20th, then will the employer be subject to interest & damages?
regards
From India, Aurangabad
14We all know that the PF remittance has to be done by 15th of every month.
However I would like to know that if we submit the cheque on last day (15th) with SBI bank well within clearing time (1300 Hrs) & the challan bears a clearing date of lets say 19th or 20th, then will the employer be subject to interest & damages?
regards
From India, Aurangabad
Dear Sunny,
As You Know That Last Date of PF remittance is 15th of every month. But Employer can submit the challan 20th of every month it includes 5 days grace period. No Interest & damages will charge from employer if the employer submit the cheque on last day 20th. if the Employer submit the challan on or before 15th then he will get rebate under income tax act.
thanks
Amit Kumar
From India, Chandigarh
As You Know That Last Date of PF remittance is 15th of every month. But Employer can submit the challan 20th of every month it includes 5 days grace period. No Interest & damages will charge from employer if the employer submit the cheque on last day 20th. if the Employer submit the challan on or before 15th then he will get rebate under income tax act.
thanks
Amit Kumar
From India, Chandigarh
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls