Is there any allowance for PF/ESI employee contribution disallowed during previous year.
6 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 08 October 2015
disallowed by whom ? auditor or department?
Jyothis
(Article)
(1127 Points)
Replied 09 October 2015
By statutory auditors.
Is there any difference if it is disallowed IT authority.
Disallowance was made by auditors on employee's share contributed by company on which no deduction from employees salary as pf was applicable to company retrospective effect from last year,Based on ESI Inspection it was applicable from last year.So after consulting with a Payroll expert,company dedicided to contribute to ESI & EPF from last year onwards & Submitted it before 20,April 2015.
Auditors disallowed entire employee's share expect march contribution.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 09 October 2015
any statuary govt liability, if not paid within due date is not available for deduction at any stage. for ESIC / PF the due date is 15th by cheque and 21st for getting payment cleared. ( in any case 21st should not exceed of the next month)
Jyothis
(Article)
(1127 Points)
Replied 10 October 2015
What if pf/esi is deposited after delay.Is there any allowance in following AY.
In our case,employee share of ESI & EPF was contributed by company.Will it be covered by 43B
Jyothis
(Article)
(1127 Points)
Replied 10 October 2015
What if pf/esi is deposited after delay.Is there any allowance in following AY.
In our case,employee share of ESI & EPF was contributed by company.Will it be covered by 43B
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 10 October 2015
in following AY means more delay, so not possible to claim it back, any statuary payment is allowed only if paid within time limit prescribed by the concerned department
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