EPFO

SC judgement holding allowances as part of basic wages- contradictory?

Corporate Law - Is the recent SC judgement holding allowances as part of basic wages for the purpose of determination of PF contribution, in contradiction with the stand of the Law makers and implementeors? In its recent judgement in the case of RPFC vs. Vivekananda Vidyamandir and others & Surya Roshni Ltd & Ors. vs. The State of […]...

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Whether EPF withdrawal attracts Taxes?

Corporate Law - The Employee Provident Fund (EPF) is an investment and more beneficial scheme enacted by the Government in the common interest of employees. In this scheme, the employer and employee, both are required to contribute an amount which is calculated on the basic wages, dearness allowance and retaining allowance (if any). Employer Contribution...

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All about EPF Series-1

Corporate Law - The EPF was established by the Employees Provident Fund Organization (EPFO) of India, a statutory body of the Government. It states that every organization having 20 or more permanent employees across different departments working, should compulsorily register with the EPFO. In the case of an organization which employs less than 20 employ...

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Rectification of Employees Details in EPFO records online and offline

Corporate Law - EPFO (Employee’s Provided Fund Organization) is an organization which keeps the contribution made towards PF (Provided Fund) of employees and provides pension after attaining the age of 58 / 50 years (provided service period is 10 years or more). EPFO has made it mandatory to link aadhar number of employees to their EPFO account (very [...

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SC decision on PF calculation lowered take home Salary

Corporate Law - For employees with monthly pay of less than Rs 15,000, however, inclusion of all allowances in wages for PF calculation would result in a lower take-home salary. For employees with monthly pay of more than Rs15,000, Calculation of PF for Employer Contribution will be restricted to 12% of Rs. 15,000 only. So there will be no impact for su...

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Guidelines for Registration of Factory/Establishment under ESI Act 1948

Corporate Law - The ESI Act, 1948 is applicable to all factories and notified establishments in an implemented area employing 10 or more employees employed for wages. a) For Factory:‑ The threshold for coverage of “factory”, as per section 2(12) of the ESIC Act is 10 which are located in implemented areas. At present the Act is extended [&h...

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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)...

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‘View Pension Passbook’ Service for pensioners through Umang App

Corporate Law - Employees’ Provident Fund Organisation (EPFO), which is providing a host of e-services for its stakeholders, has now introduced a new service through ‘UMANG app’. On clicking ‘View Passbook’ option, it requires PPO Number and Date of Birth information to be entered by the pensioner. ...

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EPFO rules out any leakage of subscribers’ data from their data centre

Corporate Law - EPFO has taken advance action by closing the server and host service through Common Service Centres pending vulnerability checks as part of the data security and protection. EPFO has been taking all necessary precautions and measures to ensure that no data leakage takes place. ...

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New Initiatives by EPFO to provide services and timely information

Corporate Law - It has now been decided to publish the age-band wise estimate of all new subscribers as declared by their employers. The new employees have been categorised in six age bands like less than 18; 18-21; 22-25; 26-28; 29-35 and more than 35 years of age....

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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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‘EPFO cannot claim damages for delayed payment’

The Madras High Court bench here has ruled that the Employees Provident Fund Organisation (EPFO) cannot claim damages from employers for delayed payment of their contribution "if there is no intention to commit a prohibited act or actus reus" (action...

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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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 Provision of e-Nomination at Member Interface at Unified EPFO Portal

No NDC/2017/UAN/Pt./3143 - (06/06/2019) - A facility for filing of online e-nomination is available at Member Interface of Unified Portal. In order to make this functionality compatible with online Form 10D claim to be filed by members and online composite claim Form 10D/20/5IF to be filed by nominees, some modifications have been ...

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EPFO to provide calculation sheet at the time of PF withdrawal

No. WSU/Grievances/2019/19201 - (22/03/2019) - In order to increase transparency in respect of provident fund settlement withdrawal and to reduce the confusion & grievances of the subscribers, it has been decided that calculation worksheet of provident fund withdrawal of each member is to be provided either on their registered mobile number or t...

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Employees’ Provident Funds (Amendment) Scheme, 2018

68HH. Non-refundable advance to a member in case of continuous un-employment for a period of not less than one month.- The Commissioner or, where so authorised by the Commissioner, any other officer subordinate to him, may permit a member, on ceasing to be an employee in any factory or establishment...

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EPFO Facilitating Aadhaar number seeding in UAN

Notification No. C-III/1/2018/Cir/KYC - (29/11/2018) - UIDAI has clarified that EPFO may continue to avail Aadhaar based authentication services for the schemes for which notification under Section 7 of the Aadhaar Act, 2016 has been issued and duly published in the Official Gazette....

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Non Submission of Online monthly IW1 return- Reg.

File No. IWU/7(30)2012/Return in R/O IWU/1191 - (28/11/2018) - As you may be aware that facility for online submission of IW-1 return by employers has started from 1st November 2018. It is observed that such returns are not being submitted online by concerned employers of establishments employing International Workers...

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Recent Posts in "EPFO"

SC judgement holding allowances as part of basic wages- contradictory?

Is the recent SC judgement holding allowances as part of basic wages for the purpose of determination of PF contribution, in contradiction with the stand of the Law makers and implementeors? In its recent judgement in the case of RPFC vs. Vivekananda Vidyamandir and others & Surya Roshni Ltd & Ors. vs. The State of […]...

Read More
Posted Under: Income Tax |

 Provision of e-Nomination at Member Interface at Unified EPFO Portal

No NDC/2017/UAN/Pt./3143 (06/06/2019)

A facility for filing of online e-nomination is available at Member Interface of Unified Portal. In order to make this functionality compatible with online Form 10D claim to be filed by members and online composite claim Form 10D/20/5IF to be filed by nominees, some modifications have been incorporated in consultation with the ...

Read More

Whether EPF withdrawal attracts Taxes?

The Employee Provident Fund (EPF) is an investment and more beneficial scheme enacted by the Government in the common interest of employees. In this scheme, the employer and employee, both are required to contribute an amount which is calculated on the basic wages, dearness allowance and retaining allowance (if any). Employer Contribution...

Read More
Posted Under: Income Tax |

All about EPF Series-1

The EPF was established by the Employees Provident Fund Organization (EPFO) of India, a statutory body of the Government. It states that every organization having 20 or more permanent employees across different departments working, should compulsorily register with the EPFO. In the case of an organization which employs less than 20 employ...

Read More
Posted Under: Income Tax |

Rectification of Employees Details in EPFO records online and offline

EPFO (Employee’s Provided Fund Organization) is an organization which keeps the contribution made towards PF (Provided Fund) of employees and provides pension after attaining the age of 58 / 50 years (provided service period is 10 years or more). EPFO has made it mandatory to link aadhar number of employees to their EPFO account (very [...

Read More
Posted Under: Income Tax |

SC decision on PF calculation lowered take home Salary

For employees with monthly pay of less than Rs 15,000, however, inclusion of all allowances in wages for PF calculation would result in a lower take-home salary. For employees with monthly pay of more than Rs15,000, Calculation of PF for Employer Contribution will be restricted to 12% of Rs. 15,000 only. So there will be no impact for su...

Read More
Posted Under: Income Tax |

Guidelines for Registration of Factory/Establishment under ESI Act 1948

The ESI Act, 1948 is applicable to all factories and notified establishments in an implemented area employing 10 or more employees employed for wages. a) For Factory:‑ The threshold for coverage of “factory”, as per section 2(12) of the ESIC Act is 10 which are located in implemented areas. At present the Act is extended [&h...

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Posted Under: Income Tax |

Will your pension go up if Supreme Court Decision is implemented in full?

The Supreme Court has on 1st April  2019 has rejected the Special leave petition filed by EFPO against the decision of Kerala High court on quantum of pension payable to an employee after his retirement under employee pension scheme (EPS) 1995. This decision has generated wide spread interest in people working in organised Sector as [&he...

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Posted Under: Income Tax |

Late Deposit of employee’s contribution for PF/ESI

As per section 36(1)(va) of the Act, if any sum received by the assessee from any of his employees to which the provisions of sub-clause (x) of clause (24) of section 2 apply, if such sum is credited by the assessee to the employee’s account in the relevant fund or funds on or before the due date. […]...

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Posted Under: Income Tax |

All About EPF in India

In this article I will talk in detail about What is EPF, What is UAN (Universal Account Number),Who deducts EPF, Contribution towards EPF, When can we withdraw the EPF amount, How to online transfer the EPF amount from one employer to another, How to Link Old member ID / EPF Account with UAN, Income Tax […]...

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Posted Under: Income Tax |

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