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 ...

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...

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....

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...

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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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. ...

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 ...

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...

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. ...

Govt to enable Withdrawal upto 90% for Purchase of House from EPF

Corporate 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....

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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...

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....

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...

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...

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 commences Real Time Monitoring System for Exempted Establishments

EPFO has implemented online filing of returns by exempted establishments. Subsequent to the introduction of the new software, real time monitoring of exempted establishments has also commenced. It is required that all the exempted establishments/employers are required to file the statutory online re...

EPFO Introduces new Composite Declaration Form (F-11)

No: Manual/Amendment/2011/13437 - (20/09/2017) - Central Provident Fund Commissioner by exercising the powers conferred under para 36(7) read alongwith the provisions of para 34 and 57 of EPF Scheme, 1952 and para 24 of Employees' Pension Scheme, 1995 has ordered the introduction of Composite Declaration Form (F-11) by replacing the existing New F...

Revised procedure for Transfer of PF Accounts

No: Manual/Amendment/2011/13326 - (20/09/2017) - In the wake of recent digital initiatives with the objective of making EPFO a Paperless Organization, the new procedure has been formulated for transfer of accounts of a member on change of employment to facilitate seamless and hassle free service to subscribers....

EPFO discontinues submission of Form- 9 in physical form by employer

No: WSU/10(1)2011/Changes in MAP/1312 - (18/09/2017) - In exercise of powers conferred on Central Provident Fund Commissioner under paragraph 36(7) of Employees Provident Funds Scheme, 1952, discontinuance of submission of Form No. 9 in physical form is hereby ordered in respect of all the members joining as well as the establishments being covered on o...

EPFO revises composite Pension Payment Order form

No: Pension-I/17(1)/2000/PPO - (15/09/2017) - The Central Provident Fund Commissioner has approved a composite Pension Payment Order form (copy enclosed) replacing the existing Pension Payment Order. The Information Services Division has made requisite changes in the application Software to replace the existing Pension Payment Order with the re...

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