Calculation of Penalty After Late Submission of ESI

Penal Interest under section 7Q:
# No.of days delayed in making payment x 12% p.a

Penal Damages under section 14B:
# No.of days delayed in making payment x 5% p.a (Less than 2 months)
# No.of days delayed in making payment x 10% p.a (2 months and above but less than 4 months)
# No.of days delayed in making payment x 15% p.a (4 months and above but less than 6 months)
# No.of days delayed in making payment x 25% p.a (6 months and above)

I have attached worksheet for the same.

EPF Interest and damages for Delayed Payments for the year 2007-2008
Contribution
Period
Due
Date
Paid
Date
Delay
Days
Rate p.a Account No. 1 Account No. 2 Account No. 10 Account No. 21 Account No. 22
Slab 7Q 14B Contribution 7Q Dues 14B Dues Contribution 7Q Dues 14B Dues Contribution 7Q Dues 14B Dues Contribution 7Q Dues 14B Dues Contribution 7Q Dues 14B Dues
Oct-07 11/15/2007 5/15/2008 182 6 months 0 days 12% 25% 10193 610 1271 756 45 94 4416 264 550 343 21 43 7 0 1
Nov-07 12/15/2007 4/15/2008 122 4 months 0 days 12% 15% 11145 447 559 823 33 41 4922 197 247 374 15 19 8 0 0
Dec-07 1/15/2008 3/15/2008 60 2 months 0 days 12% 10% 10880 215 179 804 16 13 4796 95 79 365 7 6 7 0 0
Jan-08 2/15/2008 3/14/2008 28 0 months 30 days 12% 5% 10880 100 42 804 7 3 4796 44 18 365 3 1 7 0 0
TOTAL 1372 2051 101 151 600 894 46 69 0 1
ABSTRACT:
7Q Dues 2119
14B Dues 3166
Total Rs. 5285

 

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