ESI limit enhancement for Non-claiming of Interest for delayed payment of contribution

ESIC has instructed its field offices regarding enhancement of the limit for Non-claiming of Interest for delayed payment of contribution.

ESIC had issued instructions advising the field offices not to claim interest if the amount of interest for a contribution period is Rs. 100/- or less.

In this regard, considering the enhancement of the wage ceiling over the years, the administrative inconvenience and cost in the process of claiming interest and recovery, the matter has been examined at ESIC, Head Office and it has been decided that the interest payable due to delayed payment of contribution for any reason in any contribution period( taken as a whole), which does not exceed Rs. 300/- may not be claimed.

This instruction will come into force from 01 November 2023. The cases already decided should not be re-opened.

Related Acts
  • ESI Act

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