Dear Seniors
Could you please let me know the impact of not implementing PF enhancement (6500 to 15000) w.e.f 01 Sep 2014..say if we implement this after 2 months(i.e w.e.f 01 Nov 2014) what are the impact for employee / employer..i hope one of the major impact is we need to pay the difference at the time of PF auditing and increased PF contribution saving going to be affected for employees..apart from this is there any other major impact for employee/employer in your views..please advise and share your opinion.
Regards
Madhan
From India, Delhi
27Could you please let me know the impact of not implementing PF enhancement (6500 to 15000) w.e.f 01 Sep 2014..say if we implement this after 2 months(i.e w.e.f 01 Nov 2014) what are the impact for employee / employer..i hope one of the major impact is we need to pay the difference at the time of PF auditing and increased PF contribution saving going to be affected for employees..apart from this is there any other major impact for employee/employer in your views..please advise and share your opinion.
Regards
Madhan
From India, Delhi
Dear Madan ji,
The amendment is a change in Law, which you have to follow unconditionally. If you do not follow it, it will be a breach of Law and you are liable under the Law. There will be a prosecution against you and you may have to face penal action too.
Why you want to differ the date of implementation by two months?
From India, Mumbai
The amendment is a change in Law, which you have to follow unconditionally. If you do not follow it, it will be a breach of Law and you are liable under the Law. There will be a prosecution against you and you may have to face penal action too.
Why you want to differ the date of implementation by two months?
From India, Mumbai
you have to comply the same form the effective date rather you will be suited u/s 7a of epf & misc. provision act. thanks & regards, From, sumit kumar saxena
From India, Ghaziabad
From India, Ghaziabad
Dear Madanji,
Please follow the advice given by Korgaonkarji. I am bit confused as to why you wish to differ the date of implementation with effect from November-14 in stead of 1st September -14, being effective date in terms of Notification/Circular. Further you have not mentioned the reasons for delayed date of implementation.
To avoid 7A proceeding from PF Department, apart from payment of interest and damage, I suggest you to implement payment of PF contribution as per amended Act in time.
From India, Calcutta
Please follow the advice given by Korgaonkarji. I am bit confused as to why you wish to differ the date of implementation with effect from November-14 in stead of 1st September -14, being effective date in terms of Notification/Circular. Further you have not mentioned the reasons for delayed date of implementation.
To avoid 7A proceeding from PF Department, apart from payment of interest and damage, I suggest you to implement payment of PF contribution as per amended Act in time.
From India, Calcutta
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