EPF

TDS on EPF Balance Withdrawal

Corporate Law - Provisions related to TDS on withdrawal from Employees Provident Fund Scheme, 1952 No TDS in respect of the following cases:- Transfer of PF from one account to another PF account. Termination of service due to III health of member /discontinuation of Business by employer/completion of project/other cause beyond the control of member. If ...

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Practical Understanding of ESI & PF – Present & Future Scenario

Corporate Law - Provident Fund– An act which provides establishment of provident fund, pension fund & deposit linked insurance fund for eligible employee in eligible establishment and factories. 1) Applicability – All establishments employing 20 or more persons (5 or more for Cinema Theaters) are brought under preview of the Employee prov...

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Social Security Agreement signed between India-Japan

Corporate Law - Foreign assignments involving mobility of international workers has always been entangled in the complexities of two legislations. To ease out the hindrances and protect the interest of cross border workers of India and Japan, India has signed social security agreement (SSA) with Japan w.e.f. Oct 1, 2016....

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Present Rates of Contribution under EPF, EPS and EDLI

Corporate Law - Article cover Rate of Contribution under Employee Pension Scheme (EPS), Employees' Provident Fund (EPF) and Employee Deposit Linked Insurance (EDLI) Scheme...

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All about Universal Account Number (UAN)

Corporate Law - •• Employees’ Provident Fund - •• All employees with wages upto Rs 15,000 required to join the Fund. •• Accumulations payable on retirement, resignation, death. •• Partial withdrawals permitted for financing life insurance policies; Acquiring house or site; Marriage of self or dependents; Education of children; Treatment...

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PFRDA rolls out Aadhaar based APY Subscription through eNPS platform

Corporate Law - PFRDA rolls-out Aadhar Powered Digital on Boarding into APY through eNPS platform for wider reach; Benefits of APY@eNPS include paperless registration; No need to visit Bank Branch & to have Banking Id and 24*7 Online En-rollment at the customer’s convenience. Pension Fund Regulatory and Development Authority (PFRDA) has embarke...

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Collections of EPF started with 4 more banks in addition to SBI

Corporate Law - ollections of EPF dues have been started with PNB, Allahabad Bank, Indian Bank, Union Bank of India in addition to State Bank of India through direct online mode. ...

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EPFO to settle claims in 10 days & grievance in 15 days

Corporate Law - Shri Bandaru Dattatreya launches EPFO’s Citizens’ Charter 2017 & e-court management system Citizens’ Charter 2017 to bring transparency and accountability on the part of EPFO The Minister of State for Labour & Employment(IC), Shri Bandaru Dattatreya launched EPFO’s Citizens’ Charter 2017 and e-court management system in ...

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5 steps taken by EPFO for speedy settlement of claims

Corporate Law - The Employees’ Provident Funds Organization (EPFO) has taken various steps for speedy settlement of claims which inter alia include: 1. Composite Claim Form (Aadhaar) and Composite Claim Form (Non-Aadhaar) has been introduced by replacing the erstwhile Claim Forms No. 19, 10C and 31, with a view to simplify the submission of claims by t...

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Employees’ Enrolment Campaign launched by EPFO

Corporate Law - An Employees’ Enrolment Campaign has been launched by Employees’ Provident Fund Organisation during the period 01.01.2017 to 31.03.2017, in order to extend social security benefits to all the eligible workers in the country. During the Campaign, various financial incentives are being offered to establishments to enroll their workers. ...

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Deduction u/s 43B for EPF / ESIC paid after due date

M.V.S Engineering Ltd Vs The CIT (Delhi High Court) - In this case high court held that payment of employees contribution under the Employees Provident Fund and Misc. Provision Act, 1952 and the Employees State Insurance Act, 1948 is allowable if paid before the due date of filing Income Tax Return or filing of Income Tax Return whichever is earlier e...

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Employees’ PF/ ESI Contribution allowable as a deduction u/s 36(1)(va) if paid by due date prescribed therein

ITO Vs. LKP Securities Ltd (ITAT Mumbai) - The decisions by the apex court in the case of Vinay Cement Ltd. (supra) and Alom Extrusions Ltd. (supra) are admittedly with reference to section 43B and, further, qua the scope of the amendments thereto. The deductibility of the employee’s contribution is not regulated by section 43B....

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Dues of EPF, ESIC, etc., if deposited before due date of filing return, is allowable

Tara Jewels Export (P.) Ltd. Vs Assistant Commissioner of Income-tax, 8(3) (ITAT Mumbai) - After considering the rival submissions and perusing the relevant material on record it is observed that the due date for filing the return of income by the assessee under section 139(1) for the relevant year is 30.11.2006. The AO has drawn a chart at page-4 of the assessment order showing the dates...

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Apprentices are ‘regular employees’ for EPF coverage

A decision of the EPF Appellate Tribunal, North Delhi, that the term “employee” was defined in the Payment of Bonus Act as regular workers which included apprentices, was upheld by the Madurai Bench of the Madras High Court. Rejecting the contention...

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UOI & others vs. Ogale glass Works – Supreme Court -1971 AIR 2577

Union of India & Anr. Vs Ogale Glass Works (Supreme Court of India) - Hon’ble Supreme Court in the case of Union of India and others v Ogale glass Works 1971 AIR 2577 held that the award of industrial tribunal cannot stand in the way of enforcing the statutory provision cast on the Regional Provident Fund Commissioner under the Employees’ Provident Funds and Misc...

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EPFO: Revised Procedure for Auto-Transfer of Accounts

No. IS/4(1)2017/2715 - (15/11/2017) - With reference to above circular, it is to inform that the necessary functionality required to carry out Auto Transfer of Accounts of a member on change of employment has been launched in Unified Portal/ EPFO Application Software....

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EPFO: Provision of functionality for generation e-Form-9

NDC/APPLDEV/2017/e-Form9/13901 - (14/11/2017) - A functionality to generate for the establishments/ members joining EPF Scheme on or after 1st October 2017, has already been provided in the EPFO application software vide version no 5.68 dated 22-09-2017....

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FAQs on Exit from NPS for Central Government Sector/ Autonomous Bodies

No. HRD/58/2017/NSDL/18 - (10/11/2017) - For detailed provisions and regulations, please refer PFRDA (Exit and Withdrawal under National Pension System) Regulations 2015 and subsequent amendments under it, The same are also available on website of PFRDA at www.pfrda.org.in....

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Changes in Revised Application Form for Certificate of Coverage in respect of Indian Worker

File No.IWU/7(31) /Application for COC - (13/10/2017) - A few minor changes have since been made in the revised single application form to include the details of family members accompanying the employee abroad and the business activity (Industry, Trade Services) of his/her present employer in India to be incorporated if required ....

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Problem faced by Nepalese pensioners in private sector

No. Pension. 1/275/Nepali Pension 2015/11531 - (12/10/2017) - Procedure to be adopted by Indian Banks who have branches in Nepal for submission of life certificates of Nepalese pensioners. The Bank Managers or authorized officials of Nepal SBI Bank Limited (NSBL)/Everest Bank Limited (EBL) located in Nepal may certify the physical copy of the Life certificate ...

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Recent Posts in "EPF"

EPFO: Revised Procedure for Auto-Transfer of Accounts

No. IS/4(1)2017/2715 (15/11/2017)

With reference to above circular, it is to inform that the necessary functionality required to carry out Auto Transfer of Accounts of a member on change of employment has been launched in Unified Portal/ EPFO Application Software....

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EPFO: Provision of functionality for generation e-Form-9

NDC/APPLDEV/2017/e-Form9/13901 (14/11/2017)

A functionality to generate for the establishments/ members joining EPF Scheme on or after 1st October 2017, has already been provided in the EPFO application software vide version no 5.68 dated 22-09-2017....

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FAQs on Exit from NPS for Central Government Sector/ Autonomous Bodies

No. HRD/58/2017/NSDL/18 (10/11/2017)

For detailed provisions and regulations, please refer PFRDA (Exit and Withdrawal under National Pension System) Regulations 2015 and subsequent amendments under it, The same are also available on website of PFRDA at www.pfrda.org.in....

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Changes in Revised Application Form for Certificate of Coverage in respect of Indian Worker

File No.IWU/7(31) /Application for COC (13/10/2017)

A few minor changes have since been made in the revised single application form to include the details of family members accompanying the employee abroad and the business activity (Industry, Trade Services) of his/her present employer in India to be incorporated if required ....

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Problem faced by Nepalese pensioners in private sector

No. Pension. 1/275/Nepali Pension 2015/11531 (12/10/2017)

Procedure to be adopted by Indian Banks who have branches in Nepal for submission of life certificates of Nepalese pensioners. The Bank Managers or authorized officials of Nepal SBI Bank Limited (NSBL)/Everest Bank Limited (EBL) located in Nepal may certify the physical copy of the Life certificate of the pensioners residing in Nepal and ...

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PFRDA rolls out Aadhaar based APY Subscription through eNPS platform

PFRDA rolls-out Aadhar Powered Digital on Boarding into APY through eNPS platform for wider reach; Benefits of APY@eNPS include paperless registration; No need to visit Bank Branch & to have Banking Id and 24*7 Online En-rollment at the customer’s convenience. Pension Fund Regulatory and Development Authority (PFRDA) has embarke...

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Posted Under: Corporate Law |

Procedure to Issue Show Cause Notice to EPF Exempted Establishments

No. Exem/10(20)/2016.Vol.III/14471 (09/10/2017)

Vide circular under reference above, RPFCs have been directed to ensure compliance of all the exempted establishments regarding filing of online monthly/ annual returns and to issue Show Cause Notice to all the defaulting establishments, which have not filed the online returns. ...

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Disposal of grievances related to EPPO registered at Pgportal.gov.in

No. CSD-I/Review Meeting/Hon'ble Secy./2016/14456 (06/10/2017)

1. A grievance registered through this portal is required to be disposed of within thirty days of its lodgement. 2. A grievance is taken as disposed of only after the satisfaction of the person who lodged the grievance is ascertained and recorded....

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EPFO introduces free Aadhaar based e-Sign on its website

Circular No. NDC/14(7)2015/ (06/10/2017)

EPFO has now introduced the free Aadhaar based e-Sign in addition to DSC to be used by Employers. It is very easy to use in comparison to DSC. Authorised signatory of establishments whose DSC is already registered can directly activate their e-Sign by providing Aadhaar at Unified Portal....

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EPF: FAQs on Inspection Policy under EPF & MP Act, 1952

No.CAIU/RTI/17/2017/13502 (05/10/2017)

Please find enclosed herewith the Frequently Asked Questions (FAQs) on Inspection Policy and answer prepared on the direction of Central Information Commission for uploading the same on the official website....

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