24 September 2012
heyy.. Plz tell me regarding the contribution of PF on behalf of Employer.. As it is necessary to pay PF by 20th of next month.. But in case, if employer is deducting PF in FY 2011-12, but employer does nt paid that amount of PF monthly to govt.. and the whole amount of PF paid by employer after 31/03/2012.. What is the the treatment & what is the penalty regarding late payment??
24 September 2012
Section 36: The deduction of employee's contribution to PF is allowed to employer if the same is deposited by the due date of that particular PF Act,(which is normally 20th of every month)
Section 43B: The deduction of employer's contribution to PF is allowed in the same FY if such contribution is deposited(including late payments) till the due date of filing the ROI.
However, in csae of Aimil Ltd, delhi HC has passed a judgement stating that section 43B covers the deduction of employee's contribution as well.
The advantage of above mentioned judgement can be taken and accordingly both-employee's & employer's contribution to PF can be allowed to employer, provided they are deposited by due date of ROI(31-July-2012 or 30-Sep-2012, as the case may be).
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