Removing of grace period of 5 Days
Payment of contribution by the employers by 15th of the following month
As per letter issued by Ministry of Labour & Employment, Government of India dated 8th Jan-2016, Payment of Contribution by the employers by 15th of the following month - Removing of Grace Period of 5 Days w.e.f. Feb. 2016.
The Ministry of Labour & Employment, Government of India further state that, the grace period of five days have been allowed for the employers to remit the contributions as the system of calculation of wages of the employees and their corresponding dues under the three schemes (Employees' Provident Fund Scheme 1952, Employees' Pension Scheme 1995 & Employees' Deposit Linked Insurance Scheme 1976) were done manually and its remittances in the bank required additional time in the earlier manual setup.
For details of letter (Click Here)
