I paid my CC payment on it's due date and it states posted but no money has yet to come out of my bank account, is my payment still on time?

The "on time" aspect is typically the time you've made the payment to the credit card system, not the time that the money is removed from your account. The payment is "in limbo" in the banking system, but your statements reflect an on-time payment.

As an example, I paid on the due date (sunday) and was charged a late fee, explained later that the processing is suspended on a sunday, but the charge was reversed, as the credit card processing online showed an on-time payment.

Your documentation with respect to the statements is your protection if there is a charge, allowing it to be easily reversed.