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Esic

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 March 2015 Would the interest paid on late payment of ESIC be allowed in Profit and Loss A/c???
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 March 2015 please resolve the query or provide me with relevant section regarding the same?? ASAP
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Gaurav Vora

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Gaurav Vora (Expert)
24 March 2015 Any payment in compensatory nature would be allowed, however any penal payment will not be allowed. Interest on late payment is compensatory in nature, therefore it will be allowed.
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 March 2015 can you provide me with the relevant sections or any case related to the above issue, if you have???

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