Delay in deposit of P.F. dues attracts penal damages
ATTENTION EMPLOYEES / EMPLOYERS
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