According to the press release by Employee’s Provident Fund organization, employers who delay in deposit of P. F. dues may attract fine or penal damages. The fine or damages are levied at the following rates:
For 0-2 months delay – @ 5% per annum
For 2-4 months delay- @10% per annum
For 4-6 months delay- @ 15% per annum
For delay above 6 months- @ 25% per annum
Reduction or waiver of damages would be considered only for sick industrial companies having rehabilitation scheme sanctioned by BIFR. This message was recently published in various National News Dailies.
For 0-2 months delay – @ 5% per annum
For 2-4 months delay- @10% per annum
For 4-6 months delay- @ 15% per annum
For delay above 6 months- @ 25% per annum
Reduction or waiver of damages would be considered only for sick industrial companies having rehabilitation scheme sanctioned by BIFR. This message was recently published in various National News Dailies.
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