What happens if I deposit PF or ESI after the 15th of the month?

Both PF and ESI contributions are due by the 15th of the following month. A late deposit attracts interest and can also attract damages.

• PF: interest at 12% per annum on the delayed amount under Section 7Q of the EPF Act, and damages under Section 14B, which the EPFO levies on a slab basis depending on how long the delay runs (for example 5% a year for under two months, rising to 25% a year beyond six months).
• ESI: interest at 12% per annum under the ESI Act, and damages that can go up to the amount of arrears, depending on the case.

Depositing as early as possible keeps the cost down. For an actual delayed month, check the amount payable on the EPFO and ESIC portals or with your CA or payroll consultant.