Corporate Law notification

Determination of pensionable salary exceeding statutory wages ceiling

No: Pension-I/12/33/EPS Amendment/96/VoI.II/34007 (23/03/2017)

Allowing members of the Employees' Pension Scheme, 1995 the benefit of the actual salary in the Pension Fund exceeding wage limit of either Rs. 5000/- or Rs. 6500 per month from the effective date respectively as per the Hon'ble Supreme Court's order in SLP No.33032-33033 of 2015 ...

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IRDA: Modification in premium rates due to revised Commission/Remuneration Structure and introduction of Reward System

Ref. IRDAI/NUCIR/F&U/ 060/03/2017 (22/03/2017)

IRDAI (Payment of Commission or Remuneration or Reward to Insurance Agents and Insurance Intermediaries) Regulations 2016 comes into force with effect from 1st April, 2017. ...

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Guidelines on Stewardship Code for Insurers in India

Ref: IRDA/F&A/GDL/CMP/059/03/2017 (22/03/2017)

The Authority had revised the Corporate Governance guidelines for insurance companies in 2016, which combined the stipulations regarding the form and composition of the Board, the Appointment and qualifications of Directors and Key Management Persons (KMPs), appointment of Auditors, etc....

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EPFO Empanelment of retired officers for departmental Inquiries

HR/AVS/10(2)16/ERO/21447 (22/03/2017)

Employees’ Provident Fund Organization (EPFO) proposes to setup a panel of retired officers as Inquiry Officers for conducting departmental inquires...

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Acquisition of Bharatiya Mahila Bank Limited Order, 2017

Order No. G.S.R. 269(E) (20/03/2017)

State Bank of India with sanction of Central Government and in consultation with RBI, has entered into negotiations for acquiring Bharatiya Mahila Bank Limited...

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Reduction in EPF & EDLI administrative charges

No. WSU/44(2)97/Administrative Charges/33959 (22/03/2017)

The expenditure incurred in administering the Employees' Provident Fund is met from the administrative and inspection charges collected from the employers of un-exempted and exempted establishments respective...

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National Legal Services Authorities (Amendment) Rules, 2017

Notification No. G.S.R. 263(E) (20/03/2017)

Central Government hereby makes following rules further to amend National Legal Services Authorities Rules, 1995, namely:—National Legal Services Authorities (Amendment) Rules, 2017....

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Draft Contract Labour (Regulation and Abolition) Central Amendment Rules, 2017

Notification No. G.S.R. 257(E) (17/03/2017)

All wages shall be paid in current coin or currency notes or by cheque or by crediting the wages in the bank account of the workman:...

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Draft IRDA (Preparation of Financial Statements of Insurers) Regulations, 2017

Ref: 519/F&A/Ind AS/2016-17 (15/03/2017)

In order to address the implementation issues, the Authority had constituted the Implementation Group on Ind-AS in Insurance Sector in India. The group has submitted its report on 30th December 2016....

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IRDA guidelines for investment in Units of REITs / InvITs

Circular No. IRDAI/CIR/F&I/INV/056/03/2016-17 (14/03/2017)

Insurers can invest in Units of REITs / InvITs which conform to the following: i. The REIT /InvIT rated not less than AA shall form part of Approved Investments. REIT / InvIT rated less than AA shall form part of Other Investments....

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