Articles CA final student
71 Points
Joined January 2011
Below are facts can be faced in case of late filling & penality.
Damages
· Less than 2 months …. @ 17% per annum
· Two months and above but less than upto four months …. @ 22% per annum
· Four months and above but less than upto six months …. @ 27% per annum
· Six months and above
Penal Provison
specified in para 14 of the EPF Act.:
if an employer fails to pay submit returns.,he shall be punishable with imprisonment which may extend to one year or with fine which may extend to Rs. 4000/- or both, as the casemay be.