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Another responsibility on TIN_FCs.

Poor TIN_FCs are required to fulfill all obligations without expecting adequate considerations/remunerations in return.  At the top of above they are exposed to all kind of  penalties by NSDL for not meeting their standards.
What a pity for them.
A pan Card cost Rs. 66.00 in January 2005 which was adjusted to Rs. 67.00 in April 2006 for increase in ST.
Cost of PAN was increased to Rs. 94.00 in April 2009 to adjust increased cost of Printing and Dispatch.
The same was revised to Rs. 96.00 from April 2012 and it is now Rs. 105.00 from Jan 2014.
Commission Payable to TIN_FC in 2005 was around Rs. 5.50-6.50 (depending of number of application processed by TIN_FC in a month) and unfortunately it is the same in 2014.
Cost of dispatch of physical application forms to upload center is more than the commission payable per application, leave aside cost of acceptance, printing of acknowledgement, connectivity and other establishment expenses.
Now they are asked to verify and attest original documents, forcing a TIN_FC to make a responsible person available in office through-out the day. Front office staff cannot be delegated responsibility which is more likely to be mis-used causing penal actions against TIN_FC.
ITD and NSDL believe that the TIN_FCs are most efficient of businessmen and can control and manage their costs permanently. They are not effected by the outside environment and are free of escalations, inflation of cost.
I request all professional collegues to raise the voice against discrimination of TIN_FCs and help get their dues.
Hope this reaches the right platform and people.
Submitted by :- Advocate C. P. Chugh

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One Comment

  1. PRABHAKAR DIXIT says:

    Sir, I do agree with you. Even center running cost is not met out of commission given to TIN-FC. Kindly do something for increase of commission

  2. ANAND PRAKASH says:

    Sir,
    I absolutely agree with you.
    I am with you in this fight for increase in commission.
    With all regards & best wishes.
    Anand Prakash Saxena
    Advocate

  3. mukesh says:

    for such burden and responsibility karvy is responsible, who has branches all over india but it is not surrendering its pan card works because its centre do business share and mutual funds. in fact it is putting new way on its employee for raising its income through sip, insurance i.e. whole day pan card acceptance and thereafter field work for sip………..

  4. NIRANJAN says:

    Dear Sir.
    please accept my humble thanks that at least you bothered to raise our voice and considered the mercyful condition of TIN-FCS.

    NSDL CAN CHARGE FOR INCREASED COST OF PRINTING AND COURIOR AND OTHERS,

    MAY ALL TIN FC UNITE AND SURRENDER AT ONCE.

  5. CA Mohammad Auyb says:

    Mr. Chugh,,

    I absolutely agree with you. NSDL with its circular is increasing the work burden, cost and responsibility of TINFC on daily basis. However, there is no change in commission since the whole system of TINFC started.

    TINFCs are not united to fight for their commission. I hope your message reaches to all TINFCs who in turn raise their voice to reach the concerned ears.

    I am with you in this fight for increase in commission.

    With all regards and best wishes

    CA Mohammad Ayub,FCA,FCMA,DISA

  6. K.Sivasankaran says:

    Obviously while the responsibilities of TIN FCs are being increased so as the renumneration also to be. I request all the counter parts to make voice for TIN-Fcs for fixing a decent remuneration.

  7. sanil nair says:

    I am also agreeing with you view. This a unwanted burden on TIN FC’s. I think 99% of TIN FC’s are working loss due to the low payment structure offered by NSDL. Most of them are surviving on their other businesses

  8. sachin garg says:

    I agree Sir. I am also running Tin-Fc.It is very difficult to survive with the commision we are being paid. Please guide us to raise a voice and to make a unity in all india tin-fc’s.I am with you.

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