I want to know the rate of Penal Damage to be paid by an Employer for late payment of PF.
From India, undefined
From India, undefined
Damages rate for 14B it is changeable according to days
1 LESS THAN 2 MONTHS 0-60 …@ 5 % PER ANNUM
2 LESS AND ABOVE BUT LESS THAN UPTO 4 MONTHS 61-120 …@ 10 % PER ANNUM
3 LESS AND ABOVE BUT LESS THAN UPTO 6 MONTHS 121-180 …@ 15 % PER ANNUM
4 6 MONTHS AND ABOVE 181-365 …@ 25 % PER ANNUM
The interest rate for 7Q is 12% and it is unchangeable.
1 INTEREST …@ 12 % PER ANNUM
From India, Gurgaon
21 LESS THAN 2 MONTHS 0-60 …@ 5 % PER ANNUM
2 LESS AND ABOVE BUT LESS THAN UPTO 4 MONTHS 61-120 …@ 10 % PER ANNUM
3 LESS AND ABOVE BUT LESS THAN UPTO 6 MONTHS 121-180 …@ 15 % PER ANNUM
4 6 MONTHS AND ABOVE 181-365 …@ 25 % PER ANNUM
The interest rate for 7Q is 12% and it is unchangeable.
1 INTEREST …@ 12 % PER ANNUM
From India, Gurgaon
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Circular on PF Damage & Interest Calculations.pd f
THE INDIAN PENAL CODE 2009.doc