kumar (student) (138 Points)
18 November 2008as per statutory compliance I (co.) need to pay the contribution both employer and employee with in specified date. IF i have paid after the duedate what will the consequence as per statute ie. IT ACT and PF ACT and other relevant acts ?
total contribution to PF is 25.61% and while filling the challan we need transfer (12%e/ee+3.67% e/or) to a/c no.1 but if I charge 8.33%instead of 3.67% jn a/c no.1 what will be the consequnce if known refer the section also plz
Regards
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 18 November 2008
If default is not regular and PF is paid before submitting Annual Returns then there is very less problem and if problem willbe then employer may have to pay interest which willbe told by Assessing Officer but if not before annual return then expenses willbe disallowed.
jayalakshmi
(Accounts Officer)
(100 Points)
Replied 02 December 2008
CAclubindia
