IRDA, Insurance , Corporate Law Articles, Notification, News and Circular

EPFO Launches online receipt of Electronic Challan cum Return (ECR) from the Month of April 2012 (March paid in April). Employers are requested to Register their establishments and create their user id and password through this portal. The registered employers can upload the Electronic Return and the uploaded return data will be displayed through a digitally signed copy in PDF format. It will be available for printing also. Once approved by the employer online Challan wi.. Full Article

How to Check Online Balance in Your Employee Provident Fund Account- Please click on the following link to know the balance in your EPF Account upto the date, the accounts are updated, which also includes the latest approved transactions of settlement/advances/transfer-in/transfer-out, if any. Select the EPFO office where your account is maintained and furnish your PF Account number. Leave the extension field blank, in case your account does not have one. Full Article

The Supreme Court has ruled that the government and its agencies cannot alienate public property or issues licences in favour of selected individuals or companies at its sweet will. The government cannot give or withhold largesse in its arbitrary discretion or according to its sweet-will. The government cannot now say that it will transfer the property (land etc.) or will give jobs or enter into contracts or issue permits or licences only in favour of certain individuals.. Full Article

CIRCULAR No: IRDA/F&A/CIR/ACTS/083/03/2012, dated 30-3-2012 -Please refer to Circular Nos: F&A/CIR/011/MAR-04, dated 23rd March, 2004 and IRDA/F&A/002/Apr-07, dated 16th April 2007 and IRDA/F&A/CIR/014/May-09, dated 29th May, 2009 issued by the Authority on declaration of bonus by life insurance companies which have set up operations post opening up of the sector. Full Article

It is hereby informed that the 31st Mar, 2012 of financial year 2011-12 falls on a Saturday. Hence, all Life Insurers, in connection with processing of applications of Unit Linked Business shall apply the following rule: Full Article

Insurance Regulatory and Development Authority (IRDA) has informed that all life insurance products are approved by the authority before being offered for sale by the insurance companies directly or through intermediaries. IRDA has also informed that it also clears the sale literature at the product approval stage. Focus is laid on making the sales literature relevant, fair and transparent to enable an informed decision by the purchaser of an insurance policy. IRDA has a.. Full Article

The Authority refers to its notification no. IRDA/NL/NTFN/MOTP/066/04/2011 dated 15th April 2011 on the captioned subject. As per the said notification the Authority had to review the premium rates for motor third party liability only cover and adjust them annually using the formula: Full Article

ORDER No. IRDA/NL/ORD/MPL/72-7 03/2012 The Authority under Para (13 'e'): Manner of Calculating the Obligations, of its order No. IRDA/NL/ORD/MPL/277/12/2011, dated 23rd December, 2011 constituted a committee headed by Chairman, General Insurance Council, representatives of GIC, 2 public sector companies and 2 private sector to work out the methodology for transfer of risks amongst general insurers. The Committee submitted its report which has been accepted by the Autho.. Full Article