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15. How are the overdue payment penalties calculated?

  1. If the insured unit has not made the payment to the Bureau within the grace period, 0.1% of the premium payable will be added to the penalty for each day past the expiration of the grace period until the day before the payment is made in full. The maximum accumulated penalty is 20% of the premium payable.

    (1) Overdue payment penalty rate: For each day past the expiration of the grace period, 0.1% of the premium payable will be added to the penalty.

    (2) Overdue payment penalty formula:
    Overdue penalty for the month = Premium payable for the month × 0.1% × No. of days overdue≦ 20% of the premium payable for the month
     
  2. Example:

    (1) Suppose the payment concerned is for January 2015 and the amount due is NT$5,000, and suppose the grace period ends on March 15, 2015. If the payment is made on June 24, 2015, the amount of the penalty is calculated as follows:
    Starting date for the purpose of calculating the number of days overdue: March 16, 2015
    Ending date for calculating the number of days overdue: June 23, 2015
    No. of days overdue: 16 days (March) + 30 days (April) + 31 days (May) + 23 days (June) = 100 days
    NT$5,000 × 0.1% × 100 days = NT$500, which is ≦ NT$1,000 (NT$5,000 × 20%)
    ∴Overdue payment penalty is NT$500

    (2) Suppose the payment concerned is for January 2015 and the amount due is NT$5,000, and suppose the grace period ends on March 15, 2015. If the payment is made on October 12, 2015, the amount of the penalty is calculated as follows:
    Starting date for the purpose of calculating the number of days overdue: March 16, 2015
    Ending date for calculating the number of days overdue: October 11, 2015
    No. of days overdue: 16 days (March) +30 days (April) + 31 days (May) + 30 days (June) + 31 (July) + 31 days (August) + 30 days (September) +11 days (October) = 210 days
    NT$5,000 × 0.1% × 210 days = NT$1,050, which is ≧ NT$1,000 (NT$5,000 × 20%)
    ∴Overdue payment penalty is NT$1,000
Last Update:2021-09-08
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