CA, CS, CMA : Explore 375 key legal compliances and updates across FEMA, Income Tax, and GST for March 2025. Stay informed on filing deadlines a...
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Corporate Law : Explore the potential effects of the proposed wage ceiling increase under the EPF Act on employers, employees, and provident fund ...
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Corporate Law : EPFO adds 15 banks for employer contributions, expanding to 32 banks. The move aims to enhance efficiency and reduce transactional...
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Grant of family pension to next eligible member in the family in the case of missing family pensioners – HO No. HRD/12(4) 2011/ Family Pension/21046 dated 20/03/2012
References are received from various field offices pointing out that implementation of the instructions contained in the circular referred in Para 1 above will lead to return of claims already received in the office wherein the benefits payable are more than Rs. 10,000/-. This will lead to undue hardship to the PF beneficiaries.
The circular no.Coord. / 4 (6) 2003/ clarification / Vol. -II/ 7394 dated 23.05.2011 regarding splitting of minimum wages for the purpose of PF contribution is kept in abeyance in view of the verdict of Hon’ble High Court of Punjab and Haryana in the matter of LPA No. 1139 of 2011(O&M) Assistant Provident Fund Commissioner Vs M/s G4S Security Services(India) Ltd. & Another till out come of the SLP (C) No. 20085/ 2011 filed by EPFO against the above decision of High Court of Punjab & Haryana.
Amendment in Employees’ Pension Scheme, 1995 and in Employees’ Deposit Linked Insurance Scheme, 1976 for submission of E-returns – HO No. Coord./40(1)2011/claim settlement/33462 dated 04/11/2011
Retirement fund manager EPFO will seek the legal opinion on implementation of the order of the MP High Court throughout the country under which employers and employees will be required to increase their contributions to the provident fund. ‘We will seek legal opinion and also the opinion of Ministry of Law and Justice Ministry, through Labour Ministry, on the MP High Court order throughout the country,’ Central Provident Fund Commissioner Samirendra Chatterjee said.
Montage Enterprises Pvt. Ltd versus Employees Provident Fund – 1. Conveyance allowance is included in the definition of basic wages because it is universally, necessarily and ordinarily paid to all across the board. 2. Special allowance is included in the basic wages since it is paid to all the workers and there are no specific criteria to determine the amount of special allowance.
It has been brought to the notice of the Head Office that, in some case of grant of exemption, funds have not been transferred to the PF trusts, subsequent to the grant of exemption/relaxation, by the Appropriate Authority. It is therefore requested that, the matter may be examined and wherever required, necessary action for transfer of funds to the PF trusts granted relaxation/exemption by the Appropriate Authorities may be initiated immediately. Details of all such cases along with the reasons for non- transfer of funds, also be submitted to Head Office within one week.
he EPFO has issued an inter-department clarification on May 23, 2011 indicating that splitting of minimum wages for the purposes of PF contributions is not permissible. This Clarification, which has been issued in view of the lack of a uniform approach followed by the PF authorities in different states, seems to be an attempt by the labour department to settle the ongoing ambiguity with respect to the calculation of provident fund contributions.
Retirement fund body EPFO will not take into account the past performance of previously engaged ICICI Pru, HSBC AMC, SBI and Reliance Capital while finalising the new asset management companies (AMCs) for managing its Rs 3 lakh crore corpus. Since the returns on investment provided by four fund managers was above the bench mark level of 8.52 per cent, past performance as EPFO’s fund manager would not be given any weightage while making fresh appointments, a source privy to the development told PTI.
Govt of India has notified the new rate for interest for Employee Provident Fund (EPF) for Financial year 2010-11. New rate is 9.5% for financial year 2010-11. Notification in this regard is reproduced hereunder.
