There is provision under the said act/scheme that form no. 5 & 10 needs to be submitted to the authorities before 15th of next month. Practicallt we are sending these forms alongwith monthly return form no,12 before 25th every month.
In a recent audit , it was pointed out by one of the auditors that this is vilation of statutory provision and the company may be prosected for this.
i have checked with other factories and they are also following the same practice of depositing befor 25th. i have also checked with a retired APFC who told me that there is such provision in their accountng mannual.
What should I do as I have to reply this to the superiors.
G P Mishra