In this post, we will look at payment and filing due dates for PF, ESI, TDS. Also, we will see the penalty for late payment or filing.
“ESI contribution due date for February 2020 and March 2020 is extended till 15th April 2020 and 15th May 2020 respectively.” For more information read our blog – ESI contribution.
PF due date
PF has two due dates they are payment due date and the ECR filing due date.
PF payment due date:
This is the date by which you have to submit the PF which you will deduct from your employees’ salary. This has to be done on or before the 15th of next month. i.e., if you want to deposit PF contribution for the month of June, then it has to be done on or before the 15th of July.
PF return due date:
With the new ECR in place, filing and payment can be both done at the same time. Hence, the PF return due date is the same as that of payment. I.e., on or before the 15th of every month.
|PF payment||On or before 15th of every month|
|ECR filing||On or before 15th of every month|
|PF annual return||25th April of every year|
PF Delay Payment interest
An employer who does not pay the contribution within the time limit shall be liable to pay simple interest at the rate of 12% per annum for each day of the default or delay in payment of contribution.
Delayed remittance of PF deposit will incur penal damages. The charges as specified by the EPFO, are as follows:
|No of months delayed||Penalty rate|
|Delay for up to 2 months||5% per annum|
|Delay ranging from 2 months to 4 months||10% per annum|
|Delay ranging from 4 months to 6 months||15% per annum|
|Delay exceeding 6 months||25% per annum (It may correspondingly go up to 100%)|
ESI due date
ESI payment due date:
ESI contribution has to be deducted every month from the employee and it has to be contributed to the department. So ESI payment due date is monthly, on or before the 15th of next month. It is similar to PF in this respect.
ESI return due date:
ESI return is done on a half-yearly basis and the due dates are fixed as 11th of November and May.
|ESI payment due date||On or before 15th of every month|
|ESI Return due date||11th of Nov and 11th of may|
An employer who does not pay the contribution within the time limit shall be liable to pay simple interest at the rate of 12% per annum for each day of the default or delay in payment of the contribution.
PT due date for payment
Professional tax is a state tax that date changes according to state laws –
|If more than 20 employee, then||On or before 15th of every month|
|If less than 20 employee, then||On or before 15th of every quarter|
TDS due date
TDS has two due dates they are TDS payment due date and TDS return due date. That return due date is applicable in Form 26Q, 24Q, 27Q. Both have different due dates for every month.
|TDS payment||The payment has to be done on or before 7th of every month|
For the month of March, on or before April 30th
|TDS return||On or before 31st of the next month after quarter-end|
Ex: Apr-Jun, file on or before 31st July
For the 4th quarter i.e., Jan-Mar file on or before 31st May
|Late deduction||1% per month|
|Late payment||1.5% per month|
|Late filing||Rs. 200 per day|
|Note: Maximum interest payable will be equal to the tax payable|
This ends our post. Let us know your opinion by commenting below.
The best way to ensure you meet all your due dates is by having your processes in one place, organized and automated.
Our payroll software helps you do that and more. Check out Saral PayPack for more details.