Section 31A in Employees' State Insurance (General) Regulations, 1950
31A. [ Interest on contribution due, but not paid in time - [Substituted by Noti. No. 12/13/19/79-P&D, dated 9.3.1983 (w.e.f. 26.3.1983). ]
An employer who fails to pay contribution within the periods specified in regulation 31, shall be liable to pay [simple interest at the rate of [twelve per cent][per cent per annum] [Substituted by Noti. No. 12/13/2/94-P&D, dated 1.11.1994 (w.e.f. 1.9.1994). ] [in respect of each day of default or delay in payment of contribution.] [Substituted by Noti. No. 12/13/19/79-P&D, dated 9.3.1983 (w.e.f. 26.3.1983). ]
