1. ESIC vide its circular dated 08/04/2016 has now revised its earlier instructions on subject of levy of interest on omitted wages as detected during verification of records or as assessed on adhoc basis under section 45A. The online link of the instructions is mentioned as follows for kind information of seniors and interests:
2. Earlier, the interest on omitted wages was demanded after allowing some grace period after issue of discrepancy letter/C-18 etc., but now the same is to be calculated on the same pattern as on regular wages of employees. Therefore, in my opinion, the instructions have become more strict on this issue resulting into more liability for defaulter employers.
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