Contribution of esi & pf disallowed
This query is : Resolved
19 September 2013
R/ all seniors,
in a pvt. ltd concern, payment of PF & ESI, cleared after due date from bank. it happened in 7 months of financial year. PF dept. has charged interest on late payment as it is online now. and damages for late paymet of ESIC has also paid.
During the process of balance sheet finalization, CA said that employer contribution to ESIC and PF will be disallowed on the ground of late payment and it will be add back to profit.
kindly let us know the rules regarding the same.
regards
Anuj Verma
in a pvt. ltd concern, payment of PF & ESI, cleared after due date from bank. it happened in 7 months of financial year. PF dept. has charged interest on late payment as it is online now. and damages for late paymet of ESIC has also paid.
During the process of balance sheet finalization, CA said that employer contribution to ESIC and PF will be disallowed on the ground of late payment and it will be add back to profit.
kindly let us know the rules regarding the same.
regards
Anuj Verma
20 September 2013
employer contribution will not be disallowed us 43B if paid before due date of filing of ITR
20 September 2013
Thanks for your reply, contribution for the month is required to be paid by 20th of every month and it was paid late, but paid in same month, means by 30th of month.
Ex- payment of esic and pf for the month of june was need to deposit by 20th july, but cheque cleared on 26th of july from our bank.
in that case will the contribution be disallowed and added to profit.
kindly suggest.
regards
Anuj Verma
Ex- payment of esic and pf for the month of june was need to deposit by 20th july, but cheque cleared on 26th of july from our bank.
in that case will the contribution be disallowed and added to profit.
kindly suggest.
regards
Anuj Verma
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Payment of bonus act - notice pay recovery
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
