TaxTMI 
TaxTMI 
Payment of contribution by the employers by 15th of the following month —Removing of grace period of 5 days.
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....ayment of contribution by the employers by 15th of the following month —Removing of grace period of 5 days. <br>News and Press Release<br>Dated:- 11-1-2016<br><BR>Employees' Provident Fund Organisation (Ministry of Labour & Employment, Govt. of India), Head Office Bhavishya Nidhi Bhawan, 14- Bhikaji Cama Place, New Delhi - 110066 Fax: 011-26173022, Telephone: 26172685 No. WSU/9(1)2013/Settl....
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....ement/35631 Date: 08th January, 2016 To M ACCs (Zones) All RPFC/OICs of ROs/SROs. Sub: Payment of contribution by the employers by 15th of the following month -Removing of grace period of 5 days. Sir/Madam, As per paragraph 38(1) of the EPF Scheme, 1952, paragraph 3 of EPS, 1995 and paragraph 8(1) of EDLI Scheme, 1976, the employers are required to pay the contributions and administrative cha....
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....rges within fifteen days of dose of every month. The employer, as per para 5.1.3 of Manual of Accounting Procedure (Part-I General), is also allowed a grace period of 5 days to remit the contribution. 2. The grace period of five days have been allowed for the employers to remit the contributions as the system of calculation of wages of the employees and their corresponding dues under the three sc....
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....hemes (Employees' Provident Fund Scheme 1952, Employees' Pension Scheme 1995 & Employees' Deposit Linked Insurance Scheme 1976) were done manually and its remittances in the bank required additional time in the earlier manual setup. 3. In the present era„ employers compute the wages and EPF liabilities electronically (in most of the cases on real time basis) and file Electronic Challan-cum-....
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....Return (ECR), The remittances are also being deposited through Internet Banking. This has reduced the process and time taken in calculation of PF dues and its remittances in the bank. Accordingly, it has been decided that concession of grace period of 5 days available to the employers for depositing the contribution & other dues is withdrawn herewith. This decision shall apply from February, 2016 ....
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....(contributions for month of January, 2016 and payable in the month of February, 2016). 4. The employers shall pay the contribution and other dues as envisaged under EPF & MP Act, 1952 and Schemes framed thereunder within fifteen days of dose of every month 5. This has approval of Central P.F. Commissioner. Yours Your Faithfully (Dr. V.P. Singh) ACC (MA)<BR> News - Press release - PIB....