PF due date is the last date to pay the periodic installment towards PF by the employer by a total of 12% of employee wage. The central government has decided that 15th of each month will be the last date to pay the PF due. Recently. EPFO issued a circular that the grace period of 5 days for PF payment has been removed w.e.f, 15th February 2016. Reason for removing grace period is that EPF liabilities and wages are computed electronically by employers and ECR ( Electronic Challan Cum Return) is filed. This electronic usage reduces the process for PF due calculation and its remittance by the bank.
PF payment due date:
PF payment due date is the date of payment done by the employer by taking a small portion of employee wage along with employer’s own contribution towards PF of the concerned employee to secure his future after retirement. During the earlier period where grace period is still applicable, penal damages on PF payment has to be paid even if the PF due date falls on public holiday/ Sunday. Such penalties have been removed along with the removal of the grace period.
PF deposit due date is the last date before which the employer should pay EPF monthly deposit under the act of EPF and MP Act 1952. Even if the employee contributes more than his marked PF percentage, the employer is not obliged to pay such percentage.
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