Scribd Logo
Upload

Welcome to Scribd!

  • 14 views

    Damage Sad 1

    Uploaded by

    IrshadAhmed
    This document is a notice for employers informing them that delay in depositing provident fund dues attracts penal damages according to flat rates: 5% annually for delays up to 2 months, 10% for 2-4 months, 15% for 4-6 months, and 25% for over 6 months up to a maximum of 100%. The notice states that damages cannot be levied at lesser rates under the law and reduction or waiver is only considered for sick companies with approved rehabilitation schemes. Employers are advised to deposit dues on time to avoid penalties and fines.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Damage Sad 1

    Uploaded by

    IrshadAhmed
    14 views1 page
    This document is a notice for employers informing them that delay in depositing provident fund dues attracts penal damages according to flat rates: 5% annually for delays up to 2 months, 10% for 2-4 months, 15% for 4-6 months, and 25% for over 6 months up to a maximum of 100%. The notice states that damages cannot be levied at lesser rates under the law and reduction or waiver is only considered for sick companies with approved rehabilitation schemes. Employers are advised to deposit dues on time to avoid penalties and fines.

    Original Description:

    damages ad

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document is a notice for employers informing them that delay in depositing provident fund dues attracts penal damages according to flat rates: 5% annually for delays up to 2 months, 10% for 2-4 months, 15% for 4-6 months, and 25% for over 6 months up to a maximum of 100%. The notice states that damages cannot be levied at lesser rates under the law and reduction or waiver is only considered for sick companies with approved rehabilitation schemes. Employers are advised to deposit dues on time to avoid penalties and fines.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    14 views1 page

    Damage Sad 1

    Uploaded by

    IrshadAhmed
    This document is a notice for employers informing them that delay in depositing provident fund dues attracts penal damages according to flat rates: 5% annually for delays up to 2 months, 10% for 2-4 months, 15% for 4-6 months, and 25% for over 6 months up to a maximum of 100%. The notice states that damages cannot be levied at lesser rates under the law and reduction or waiver is only considered for sick companies with approved rehabilitation schemes. Employers are advised to deposit dues on time to avoid penalties and fines.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 1

    A TTENTION

    E MPLOYERS

    P
    E
    N
    A
    L
    T
    Y

    &
    &

    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 to a maximum of 100%)

    @ 25 % p.a. (subject

    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

    You might also like