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 |
Click Here To Download EPF Damages Calculation
Check this also: Request Letter for Removing Penalty Imposed by Company
sir,
please tall me that, the due date is-15/1/13,paid date-25/1/13 amount is 10000/-, the company pay only contribution on the 25/1/13 and wont to deposit intrest and damage on 30/1/13 then what is the delay days?
please tell me how to claculate 7 q and 14 b for the below
Wage Month(08/2006) Due Date(15/09/2006) Amt date payment(26/03/2012) Contribution for A/c No.1 is 193 how to calculate 7 q and 14 b for A/c No 1. tel me pls sir its very urgent
If the employer did not deposit the employees contribution according to his salary & working days. then what should be the penalty for the employer.
Kindly provide details.
I want to know about calculation of interest for epf late deposit under section 7q and 14b