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ESI and EPF

pushpanjaly (ca) (31 Points)

18 October 2008

I want make a Query regarding payment of ESI and EPF on the Due date trough cheque. in this case whether the date of submission of ESI and EPF will be the date on which such Cheque deposited or it will be the date it got cleared in the bank.

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5 Replies

S.Srinivasaraghavan (Chief Financial Officer and Co) (11318 Points)
Replied 18 October 2008

Date of deposit of cheques provided they are cleared in the next two days.

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ramesh (service) (22 Points)
Replied 18 October 2008

Originally posted by :pushpanjaly
"	I want make a Query regarding payment of ESI and EPF on the Due date trough cheque. in this case whether the date of submission of ESI and EPF will be the date on which such Cheque deposited or it will be the date it got cleared in the bank.	"

CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 18 October 2008

Yes, the date of deposit of cheque into bank will be considered as the date of deposit of ESI/EPF.

BharatRaj Panchal (trainee) (40 Points)
Replied 09 March 2009

Hi,

Whether PF is deducted from the stipend payble to trainees who has to go training in companies under company secretaries act.and whether those trainees are governed under EPF Act.

LAXMIKANT JAIPURKAR (Practicing Company Secretary/Tax Consultant) (403 Points)
Replied 10 March 2009

If the TDS is deducted from the stipend, then the trainee is entitled to withdraw his PF after 60 days from the completion of training.

Dear Srinivasaraghavan sir, Can I get some legal clarification or circular that, the date of deposit to be considered onlly for the cheques cleared in next two days.

In my opinion, the date of deposit of cheque will be considered in all the cases. If Banker do not send the cheque for clearing within time due to their negligence or it has delayed due to strikes, holidays, etc. It is not the default of payer. However, if you have some concrete circular for the above, please post on site, so that, members will be cleared in this matter.