Collection of ContributionAn employer is liable to pay his contribution in respect of every employee and deduct employees contribution from wages bill and shall pay these contributions at the above specified rates to the Corporation within 21 days of the last day of the Calendar month in which the contributions fall due. The Corporation has authorized designated branches of the State Bank of India and some other banks to receive the payments on its behalf.
Contribution Period and Benefit PeriodThere are two contribution periods each of six months duration and two corresponding benefit periods also of six months duration as under.
Contribution period Corresponding Cash Benefit period
|Contribution Period||Cash Benefit Period|
|1st April to 30th Sept.||1st Jan of the following year to 30th June|
|1st Oct to 31st March of the year following.||1st July to 31st December.|