Delay in deposit of P.F. dues attracts penal damages

ATTENTION EMPLOYEES

Delay in deposit of P.F. dues attracts penal damages.

Damages are levied at the following FLAT RATES:

For 0 — 2 months delay - @ 5 % p.a.

For 2 — 4 months delay - @10 % p.a.

For 4 — 6 months delay - @ 15 % p.a.

For delay above 6 months - @ 25 % p.a.

(subject to a maximum of 100%)

Levy of damages at lesser rates is not permissible under the EPF & MP Act.

Reduction/Waiver of damages – considered only for Sick Industrial Companies having rehabilitation scheme sanctioned by BIFR.

Deposit dues in time – avoid penal damages.

– DO NOT BE MISGUIDED BY TOUTS –

REMIT DUES IN TIME – SAVE PENALTY & FINE


Issued in public interest by :
Employees' Provident Fund Organisation, India
Website: http://www.epfindia.gov.in