Section 49
Late payment charges on contributions in arrears
of Employees Provident Fund Act 1991
ActIn forceProvision 62 of 147
Section 49
(1)
Where the amount of the monthly contributions or part of any monthly contributions which an employer is liable to pay under section 45 is not paid within such period as prescribed by the Minister, the employer shall be liable, in addition to the dividend to be paid under subsection 45(3), to pay late payment charges to be credited to the
Fund on such amount at such rate and in accordance with any manner and calculation determined by the Board.
(2)
The Board may in any case in which it thinks fit remit in whole or part the payment of any late payment charges due under this section.