Management Accountant
40581 Points
Joined June 2010
Earlier, employers paid the PF contributions and administrative charges within 15 days of close of every month and had a grace period of five days.
The grace period was to remit contributions as the calculation of wages of the employees and their corresponding dues under the three schemes -- Employees' Provident Fund Scheme 1952, Employees' Pension Scheme 1995 and Employees' Deposit Linked Insurance Scheme 1976 -- was done manually.
The Employers Provident Fund Organisation (EPFO) in a circular said that the grace period has been removed with effect from February 2016 and the contributions for the current month (January 2016) have to be deposited in February i.e. on or before 15th February 2016. No more grace period of 5 days...!!!
For officail Notification check the below link:
https://www.epfindia.com/site_en/circulars.php?id=sm7_officeUse
Dowload item 608....!!