Payment of excess provident fund
This query is : Resolved
06 March 2013
Dear All,
An entity has made an excess payment of provident fund inadvertently. Can this excess of payment over liability be adjusted in subsequent period?
Thanks,
Sagar Shah
An entity has made an excess payment of provident fund inadvertently. Can this excess of payment over liability be adjusted in subsequent period?
Thanks,
Sagar Shah
06 March 2013
Yes, it can been done, we did it once.
But you need to explain it to PF authorities now or at the time of annual returns. Just provide them reconciliation of contributions made in each account during the period.
But you need to explain it to PF authorities now or at the time of annual returns. Just provide them reconciliation of contributions made in each account during the period.
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