Esic and provident fund payment according to income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2013 AS PER SECTION 36(1)(II)IN WHICH TIME PF AND ESIC PAID TO GOVERMENT ACCOUNT ?????

IF ASSESSEE IS DEPOSITED BEYOND THE TIME LIMIT THAN ALLOWED OR NOT????????

IF ALLOWED THAN WHICH FINANCIAL YEAR...

PLEASE GIVE ME ANS WITH EXAMPLE.

@VaibhavJ

@VaibhavJ (Expert)
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23 February 2013 Hi

Due date is as per respective law.

If payment is deposited beyond due date date then exp. is disallowed to the extent of contribution of employee only & can not be claimed back as expenditure.

Employer contribution is allowed in the year of actual payment.

Thanks!!

@VaibhavJ

@VaibhavJ (Expert)
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23 February 2013 Hi

refer article for example:

https://www.caclubindia.com/articles/understanding-section-36-deduction-with-latest-case-laws-12040.asp

Thanks!!

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