EPF

Present Rate of Contribution to EPF, EPS and EDLI with notes

Corporate Law - PRESENT RATES OF CONTRIBUTION TO CONTRIBUTION AND ADMINISTRATION ACCOUNTS OF  EPF, EPS AND EDLI BY CONTRIBUTION ACCOUNTS ADMINISTRATION ACCOUNTS EPF EPS EDLI EPF@@ EDLI @@ EMPLOYEE 12% /10% ## 0 0 0 0 EMPLOYER Difference of EE share and Pension Contribution 8.33% ## 0.5% ## 0.50% !! [w.e.f. 01-06-2018] 0 [w.e.f. 01-04-2017] 10% rate is [...

Read More

EPF Act 1952 vis-á-vis Income Tax Act – Tax Treatment of PF Dues

Corporate Law - Employer’s contribution and Employees’ contribution in India are governed by EPF Act, 1952. The employees’ contributions are obtained by employer @12% and along with equal contribution are deposited with the PF trust or PF commissioner at the designated bank account by the latter....

Read More

Reduction in rate of EPF Administrative charges from .65% to .50% w.e.f 1st June, 2018

Corporate Law - Ministry of Labour and Employment reduce in the rate of EPF Administrative charges from .65% to .50% which is effect from 1st June, 2018. As per EPFO: “The total collection of administrative charges in 2017-18 is estimated at Rs 3,760 crore. A decrease of administrative charges by 0.15% would lead to reduction in collection of […...

Read More

Impact of Recent Changes vide Budget 2018 in EPF Act, 1952

Corporate Law - IMPACT ANALYSIS OF RECENT CHANGES ENACTED THROUGHT BUDGET 2018 IN THE EMPLOYEE PROVIDENT FUND ACT, 1952...

Read More

Know PF Balance Through Missed Call AND SMS Alert

Corporate Law - UAN Activated Members Can Know PF Balance Through Missed Call AND SMS Alert Members registered on the UAN portal may get their details available with EPFO by giving a missed call at 011-22901406 from their registered mobile number.  If the UAN of the member is seeded with any one of the Bank A/c number, AADHAAR […]...

Read More

Two New Facilities for ESIC Beneficiaries Launched

Corporate Law - In order to empower Insured Persons and their beneficiaries and create awareness among other Stakeholders, ESIC has come up with two new user friendly initiatives. The initiatives include the facility of ‘IVR (Interactive Voice Response)/Help Desk’ for ESIC Toll Free No. – 1XXX-XX-2526 and production of seven Audio-Visual cl...

Read More

75% Advance to PF Members after leaving employment for one month proposed

Corporate Law - Central Board of Trustees, EPF, approved the proposal for insertion of Paragraph 68HH in EPF Scheme, 1952 provisioning Advance from the fund to a member who ceases to be in employment for a continuous period not less than one month. Under this proposal a member can avail 75% of the total fund (including employee as well as employer share)...

Read More

Pensioner’s Portal at EPFO website

Corporate Law - EPFO has launched the pensioner’s portal https://mis.epfindia.gov.in/PensionPaymentEnquiry. The pensioner’s portal is recently launched service, available at EPFO website by which all EPFO pensioners may get the details of pension related information like Pension payment order number, Pensioner’s Payment Order details, Pensioner’...

Read More

New Facilities for UAN- Aadhar Linking Introduces By EPFO

Corporate Law - Employees’ Provident Fund Organisation (EPFO) has introduced UAN-Aadhaar linking facility for the convenience of members using EPFO Link in UMANG Mobile App. This is in addition to the existing web facility already available at EPFO’s website www.epfindia.gov.in >> Online Services >> e-KYC Portal>> LINK UAN AADHAAR....

Read More

EPFO lays down provisions to help Pensioners in submitting Jeevan Parmaan with ease

Corporate Law - As per the provisions laid down, pensioners under Employees’ Pension Scheme, 1995 are required to submit Life Certificate annually in the month of November each year. From 2016 facility has been provided for submission of Jeevan Parmaan digitally as authentication for proof of identity of the individual pensioners. In order to obviate t...

Read More

Belated deposit of employees contribution to PF / ESIC is not allowable

Kalyan Silks Trichur (P) Ltd. Vs. Joint Commissioner Of Income Tax (Kerala High Court) - The solitary common issue that arose in these appeals was with regard to the legality of dis-allowance of deduction made towards belated deposit of employees contribution of Provident Fund/Employees State Insurance. A reading of the order passed by the Tribunal shows that the first appellate authori...

Read More

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...

Read More

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....

Read More

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...

Read More

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...

Read More

Tribunal cannot condone Delay in Filing Appeal of more than 120 days under EPF & MP Act

No,LC-7(94)2018/PB/CGIT/imp judgment/8820 - (08/10/2018) - Tribunal does not have powers to condone the delay beyond the period of 120 days as mentioned in Rule 7(2) of the Rules. As sequel of above discussion, it is held that appeal filed by the appellant herein is hopelessly time barred as such the delay in filing the appeal is uncondonable in view of the...

Read More

Refund of Double Payment by Electronic Challan cum Return (ECR) -Reg

No. Bkg.1 (34) 2017/Bank Commn./UBI/157 - (05/10/2018) - In spite of guidelines issued in above matter, a number of complaints are being received in Head Office in connection of non refund of wrong / excess / double payments made by establishment through ECR....

Read More

Rate of Interest on Various Provident Fund Schemes WEF 01.10.2018

F.NO. 5(1)-B(PD)/2018 - (04/10/2018) - It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent) w.e.f. 1st October, 2018 to 31st December, 2018. ...

Read More

EPF: Settlement of Death case claims with 7 Days

No. CSD/AG/2017/8352 - (27/09/2018) - This is bring to your notice on circular no. CSD-1/CPGRAMS/Pragati e-Samiksha/2016/12866 dated 31-10-2016 wherein given direction that all death case claims submitted by spouse/'nominee/legal heir of EFF member be invariably settled within a period of 7 days from dale of submission of claim form in ...

Read More

Generation of UAN without Aadhaar for residents of Assam, Meghalaya & Nagaland

No. NDC/10(5)/2017/3249 - (29/08/2018) - Hence, a provision has been made available in the Unified Portal in the Establishment login for generation of UAN without Aadhaar for employees resident in Assam, Meghalaya and Nagaland states. It is being allowed initially for a period of 3 months from 24/08/20 18 to 23/11/2018. EMPLOYEES’ PROVID...

Read More

Recent Posts in "EPF"

Labour Laws – Compliance Checklist and Calendar

Labour Laws – Compliance Checklist and Calendar under THE FACTORIES ACT, 1948, MINIMUM WAGES ACT 1940, PAYMENT OF WAGES ACT, 1936 and other Labour Laws...

Read More
Posted Under: Corporate Law |

Tribunal cannot condone Delay in Filing Appeal of more than 120 days under EPF & MP Act

No,LC-7(94)2018/PB/CGIT/imp judgment/8820 (08/10/2018)

Tribunal does not have powers to condone the delay beyond the period of 120 days as mentioned in Rule 7(2) of the Rules. As sequel of above discussion, it is held that appeal filed by the appellant herein is hopelessly time barred as such the delay in filing the appeal is uncondonable in view of the embargo contained in Rule 7(2) of the R...

Read More

Refund of Double Payment by Electronic Challan cum Return (ECR) -Reg

No. Bkg.1 (34) 2017/Bank Commn./UBI/157 (05/10/2018)

In spite of guidelines issued in above matter, a number of complaints are being received in Head Office in connection of non refund of wrong / excess / double payments made by establishment through ECR....

Read More

Rate of Interest on Various Provident Fund Schemes WEF 01.10.2018

F.NO. 5(1)-B(PD)/2018 (04/10/2018)

It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent) w.e.f. 1st October, 2018 to 31st December, 2018. ...

Read More

EPF: Settlement of Death case claims with 7 Days

No. CSD/AG/2017/8352 (27/09/2018)

This is bring to your notice on circular no. CSD-1/CPGRAMS/Pragati e-Samiksha/2016/12866 dated 31-10-2016 wherein given direction that all death case claims submitted by spouse/'nominee/legal heir of EFF member be invariably settled within a period of 7 days from dale of submission of claim form in concerned field office where the decease...

Read More

Generation of UAN without Aadhaar for residents of Assam, Meghalaya & Nagaland

No. NDC/10(5)/2017/3249 (29/08/2018)

Hence, a provision has been made available in the Unified Portal in the Establishment login for generation of UAN without Aadhaar for employees resident in Assam, Meghalaya and Nagaland states. It is being allowed initially for a period of 3 months from 24/08/20 18 to 23/11/2018. EMPLOYEES’ PROVIDENT FUND ORGANISAT ION MINISTRY OF LABOU...

Read More

Two New Facilities for ESIC Beneficiaries Launched

In order to empower Insured Persons and their beneficiaries and create awareness among other Stakeholders, ESIC has come up with two new user friendly initiatives. The initiatives include the facility of ‘IVR (Interactive Voice Response)/Help Desk’ for ESIC Toll Free No. – 1XXX-XX-2526 and production of seven Audio-Visual cl...

Read More
Posted Under: Corporate Law |

Present Rate of Contribution to EPF, EPS and EDLI with notes

PRESENT RATES OF CONTRIBUTION TO CONTRIBUTION AND ADMINISTRATION ACCOUNTS OF  EPF, EPS AND EDLI BY CONTRIBUTION ACCOUNTS ADMINISTRATION ACCOUNTS EPF EPS EDLI EPF@@ EDLI @@ EMPLOYEE 12% /10% ## 0 0 0 0 EMPLOYER Difference of EE share and Pension Contribution 8.33% ## 0.5% ## 0.50% !! [w.e.f. 01-06-2018] 0 [w.e.f. 01-04-2017] 10% rate is [...

Read More
Posted Under: Corporate Law |

EPF Act 1952 vis-á-vis Income Tax Act – Tax Treatment of PF Dues

Employer’s contribution and Employees’ contribution in India are governed by EPF Act, 1952. The employees’ contributions are obtained by employer @12% and along with equal contribution are deposited with the PF trust or PF commissioner at the designated bank account by the latter....

Read More

75% Advance to PF Members after leaving employment for one month proposed

Central Board of Trustees, EPF, approved the proposal for insertion of Paragraph 68HH in EPF Scheme, 1952 provisioning Advance from the fund to a member who ceases to be in employment for a continuous period not less than one month. Under this proposal a member can avail 75% of the total fund (including employee as well as employer share)...

Read More
Posted Under: Corporate Law |

Browse All Categories

CA, CS, CMA (3,856)
Company Law (4,045)
Custom Duty (7,065)
DGFT (3,758)
Excise Duty (4,159)
Fema / RBI (3,519)
Finance (3,731)
Income Tax (28,050)
SEBI (2,946)
Service Tax (3,400)

Search Posts by Date

October 2018
M T W T F S S
« Sep    
1234567
891011121314
15161718192021
22232425262728
293031