Employee's Contribution to Welfare Fund - Section 36(1)(va)

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..... d for employees is deemed as business income of the employer. Deduction shall be allowed for the same if such sum is credited by the assessee to the employee's account in the relevant fund or funds on or before the due date. Very important note:- It is very important for each assessee to know that if he defaults in deposit of PF, ESIC etc, contribution received from employees as per due date a .....

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..... ESI will not allowed as deduction if it is not paid within the due date and grace period. CIT II Vs Gujarat State Road Transport Corporation [2014 (1) TMI 502 - Gujarat High Court] The assessee did not deposit the amount of contribution with the PF Department / DSI Department within due date under the PF Act and/or ESI Act - HELD THAT:- Employees contribution to PF and ESI assessee shall not be e .....

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