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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...
Read MoreCorporate 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....
Read MoreCorporate Law - Article cover Rate of Contribution under Employee Pension Scheme (EPS), Employees' Provident Fund (EPF) and Employee Deposit Linked Insurance (EDLI) Scheme...
Read MoreCorporate 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...
Read MoreCorporate Law - Government had issued a notification dated 10th February 2016 regarding rules for withdrawal from EPF Funds by the members. Under the revised rules, the employee was permitted to withdraw the employees’ share from the fund (which is 12% of the wages). However, it was prescribed that the employers’ share of contribution towards the Pro...
Read MoreCorporate 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. ...
Read MoreCorporate 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 ...
Read MoreCorporate 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...
Read MoreCorporate 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. ...
Read MoreCorporate Law - Government to Amend EPF Scheme, 1952 to Enable EPF Members to Withdraw upto 90 Percent Fund for purchase of dwelling house/flat or construction of dwelling house/acquisition of site....
Read MoreM.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...
Read MoreITO 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....
Read MoreTara 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...
Read MoreA 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...
Read MoreUnion 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...
Read MoreNo: Manual/Amendment/ 2011/Pt./10800 - (24/08/2017) - Standard Operating Procedure (SOP) should be followed for the process of settlement of claims. Anything that is not contained in the current SOP shall be governed by the existing Manual of Accounting Procedure (MAP). In case of any conflict between the SOP and the Manual of Accounting Procedure, thi...
Read MoreFile No. IWU/7(31) /Application for COC/10677 - (24/08/2017) - Attention is drawn to circular of even no dated 31.07.2017, vide which information regarding the launch of the online system for generation of COC was conveyed & the physical application for COC was discontinued....
Read MoreNo: WSU/25(1)/2016-17/PLB/10440 - (21/08/2017) - The work relating to the assessment of Productivity Linked Bonus for the year 2016-17 has been taken up. The Productive Linked Bonus (PLB) for the employees of EPFO is assessed on the basis of the productivity achieved and manpower used in respect of each Regional Office separately....
Read MoreNo: Manual/Amendment/2011/Pt/9536 - (21/08/2017) - Composite Claim Form for Death cases has been reviewed and accordingly a revised Composite Claim Form for death cases, approved by CPFC, is attached herewith. This claim form shall come into force from the date of issue of this circular....
Read MoreNo: WSU/39(1)2017/Housing Scheme/10420 - (18/08/2017) - Cash Branch should ensure that generation and disbursal of EMIs in respect of the all claims under para 68-BD(4) of EPF Scheme, 1952 on the 1st working day of the month. The Cash Branch should also generate the forwarding letters for intimation for disbursal of EMIs to the lending agency as well as ...
Read MoreNo: Manual/Amendment/ 2011/Pt./10800 - (24/08/2017) -
File No. IWU/7(31) /Application for COC/10677 - (24/08/2017) -
No: WSU/25(1)/2016-17/PLB/10440 - (21/08/2017) -
No: Manual/Amendment/2011/Pt/9536 - (21/08/2017) -
No: WSU/39(1)2017/Housing Scheme/10420 - (18/08/2017) -
Pension I/Instruction/Guidelines/2017/8351 - (07/08/2017) -
No.Pension-I/17(10)/2016-17/Jeevan Pramaan-Aadhar/8051 - (04/08/2017) -
Notification No. CAIU/11(71)2017/MOT - (31/07/2017) -
No. C-I/1(63)2017/e-court/ - (24/07/2017) -
Circular No. IS/4(1)2017/2537 - (21/07/2017) -
