The Supreme Court in its judgement dated 12.10.2022 has held that employee’s contribution towards PF and ESI has to be paid on or before due date to claim deduction u/s 36(1)(via) read with Section 43B of Income Tax Act 1961. There is a marked distinction between the nature and character of the two amounts viz. the employers' contribution and employees' contribution required to be deposited by the employer - the employer's liability is to be paid out of its income whereas the second is deemed an income, by definition, since it is the deduction from the employees' income and held in trust by the employer. #pdf
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