Late payment of PF and ESIC for June 2021

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This query is : Resolved

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This discussion addresses whether PF and ESIC expenses for June 2021 will be disallowed for tax purposes if not paid by the July 15th due date. The advice given is that expenses will be allowed if remitted before filing the Income Tax Return (ITR). However, the employee's contribution will be added to the company's income for tax purposes.

DIVYESH JAIN

DIVYESH JAIN (Querist)

14 July 2021 Dear Sir,

A company is registered with PF and ESIC in Maharashtra. For the month of June 2021, the company will not be able to make the PF and ESIC payment through challan within the due date i.e. 15th July 2021.

I want to know will the PF and ESIC expense will be disallowed for June month as per Income tax Act since payment was not made within due date.

Please suggest.

Regards,
Divyesh Jain

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

14 July 2021 PF and ESI expenses will be allowed if it's remitted before filling the ITR.
But employees contribution will be added to your income for tax purposes.

DIVYESH JAIN

DIVYESH JAIN (Querist)

14 July 2021 Ok, Thank you Sir for your reply

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