EPFO

Taxability of Interest on Excess PF Contribution

Corporate Law - 1. The Union Budget 2021 has proposed taxing the income on provident fund contributions of over Rs. 2.5 lakh a year. As per clause 5 of Finance Bill 2021, the interest on any contribution above Rs 2.5 lakh by an employee to a recognized provident fund will be taxable from 01 April 2021. 2. Existing […]...

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Tracking of Contractors EPF Compliances by Principal Employer

Corporate Law - Employees’ Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued and launches electronic facility for PRINCIPAL EMPLOYERS to view EPF compliances of their contractors.  EPFO has introduced a facility for interlinking of Principal Employers with respective contract employers fo...

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Aatmanirbhar Bharat Rozgar Yojana for EPFO Registered Employees

Corporate Law - Aatmanirbhar Bharat Rozgar Yojana (ABRY) For Employees Provident Fund Organisation (EPFO) Registered Employees As a part of Aatmanirbhar Bharat 3.0 package, the Central Government has launched the Aatmanirbhar Bharat Rozgar Yojana on 12th November 2020 to incentivize creation of new employment opportunities during the COVID-19 recovery ph...

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An Overview of Employee Provident Fund – Withdrawal

Corporate Law - CS Lily Bali We all know that provident fund is a welfare scheme for employees and where both employer and employee contribute their  part but it’s a liability of employer to deposit whole part. Employer deducted the employee share from the salary of the employee. PERCENTAGE OF CONTRIBUTION:  Both employee and employer are required to...

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EPFO and ESIC-An Overview & Registration

Corporate Law - THE EMPLOYEES’ PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952 An Act to Provide for the institution of provident funds, Pension Fund and deposit- linked insurance fund for employees in factories and other establishments. Section 1(3) of the act defines the Eligibility criteria for EPF registration: 1. Establishment which is ...

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EPFO extends time limit for submission of Jeevan Pramaan Patra

Corporate Law - EPFO has extended the time limit up to 28th February 2021 for submission of Life Certificate (Jeevan Pramaan Patra-JPP) in respect of the Pensioners drawing pension under EPS 1995 and whose Life certificate is due in any month till February 28, 2021. Presently a Pensioner can submit JPP anytime during the year upto 30th November,  which ...

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EPFO’s clarification on misleading article published in newspaper

Corporate Law - EPFO) stated that an article was published in a section of media on 18.11.2020 under the caption EPFO subscribers, firms down in Oct. In this regard, EPFO has categorically clarified that the information contained in the article is incorrect and unsubstantiated....

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EPFO facilitates multiple options for submission of Digital Life Certificate by EPS pensioners

Corporate Law - All pensioners of Employees’ Pension Scheme 1995 (EPS’95) are required to submit Jeevan Pramaan Patra (JPP) / Digital Life certificate (DLC) each year to continue drawing pension. In the current scenario of COVID-19 pandemic, the Employees’ Provident Fund Organization (EPFO) has facilitated multiple options for EPS pensioners to sub...

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Atmanirbhar Bharat Rojgar Yojana Subsidy Support for EPFO registered Companies

Corporate Law - The Finance Minister on Thursday 12/11/2020 announced the Atmanirbhar Bharat Rojgar Yojana to incentivise job creation during Covid-19 recovery phase. This is eligible for EPFO (EPF) registered companies hiring new workers at monthly wages (Wages as per Supreme Court rule) less than Rs.15000/- per month. The scheme is as under, 1. Central...

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Whatsapp helpline Number of Registered EPFO Offices Across India

Corporate Law - The Employees’ Provident Fund Organisation (EPFO), is an organisation tasked to assist the Central Board of Trustees. Employees’ Provident Fund is a statutory body established by the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 and is under the administrative control of the Ministry of Labour and Empl...

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Employer can’t camouflage basic wages as part of allowance to avoid EPF deduction & contribution

Carewell Security Services Private Limited Vs Employees Provident Fund Organization (Madhya Pradesh High Court) - Carewell Security Services Private Limited Vs Employees Provident Fund Organization (Madhya Pradesh High Court) Conclusion: Employer could not camouflage basic wage as part of allowance so as to avoid deduction and contribution under the EPF Act. Held: Assessee was company incorporated under the pro...

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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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EPFO guideline for correction in name father/spouse/gender

Circular No. WSU/KYC/Correction process (E-15189) /2874 - (12/02/2021) - Correction in member profile has been allowed to rectify the errors in name, father/husband name, DOB and gender. However, it has been observed that complete name and profile change has been made in certain cases leading to fraudulent withdrawals....

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Deployment of electronic facility at Employer Interface of EPFO’s Unified Portal

Notification No. C-I/011(16)2020-21/ABRY/1179 - (01/02/2021) - Deployment of electronic facility at Employer Interface of EPFO’s Unified Portal for Principal Employers to view EPF compliances of their Contractors & contract workers EMPLOYEES PROVIDENT FUND ORGANISATION (Ministry of Labour & Employment, Govt. of India) Bhavishya Nidhi Bhawan, 14, Bhika...

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Instructions for conduct of quasi judicial proceedings under EPF & MP Act, 1952

Circulars No. C-I/3(28)2016/7A & 14B/1189 - (19/01/2021) - All quasi judicial proceedings under the EPF & MP Act, 1952 for which functionality has been created in the 'e proceedings portal' must be conducted through the portal. If conduct of proceedings is not possible in any case through the portal for functional or technical reasons must be brought to the...

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EPFO amends conditions for Amount to be invested in Debt & Related Investments

Notification No. S.O. 28(E) - (04/01/2021) - Units of Debt Exchange Traded Funds (ETFs) regulated by the Securities and Exchange Board of India and managed by an asset management company appointed as per an agreement with Government of India, specifically meant to invest in the bonds of the Central Public Sector Enterprises, Central Public Sec...

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Rate of Interest for EPF Members for year 2019-20 declared

File No. INV-11/1/2020-INV - (04/01/2021) - The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under para 60(1) of Employees' Provident Fund Scheme, 1952 to credit interest @ 8.50 % for the year 2019-20 to the account of each member of the EPF Scheme as per the provisions under Para...

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Recent Posts in "EPFO"

EPFO guideline for correction in name father/spouse/gender

Circular No. WSU/KYC/Correction process (E-15189) /2874 (12/02/2021)

Correction in member profile has been allowed to rectify the errors in name, father/husband name, DOB and gender. However, it has been observed that complete name and profile change has been made in certain cases leading to fraudulent withdrawals....

Read More

Taxability of Interest on Excess PF Contribution

1. The Union Budget 2021 has proposed taxing the income on provident fund contributions of over Rs. 2.5 lakh a year. As per clause 5 of Finance Bill 2021, the interest on any contribution above Rs 2.5 lakh by an employee to a recognized provident fund will be taxable from 01 April 2021. 2. Existing […]...

Read More

Employer can’t camouflage basic wages as part of allowance to avoid EPF deduction & contribution

Carewell Security Services Private Limited Vs Employees Provident Fund Organization (Madhya Pradesh High Court)

Carewell Security Services Private Limited Vs Employees Provident Fund Organization (Madhya Pradesh High Court) Conclusion: Employer could not camouflage basic wage as part of allowance so as to avoid deduction and contribution under the EPF Act. Held: Assessee was company incorporated under the provisions of the Companies Act and was eng...

Read More

Tracking of Contractors EPF Compliances by Principal Employer

Employees’ Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued and launches electronic facility for PRINCIPAL EMPLOYERS to view EPF compliances of their contractors.  EPFO has introduced a facility for interlinking of Principal Employers with respective contract employers fo...

Read More
Posted Under: Corporate Law |

Deployment of electronic facility at Employer Interface of EPFO’s Unified Portal

Notification No. C-I/011(16)2020-21/ABRY/1179 (01/02/2021)

Deployment of electronic facility at Employer Interface of EPFO’s Unified Portal for Principal Employers to view EPF compliances of their Contractors & contract workers EMPLOYEES PROVIDENT FUND ORGANISATION (Ministry of Labour & Employment, Govt. of India) Bhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place, New Delhi-110 066. No. C...

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Instructions for conduct of quasi judicial proceedings under EPF & MP Act, 1952

Circulars No. C-I/3(28)2016/7A & 14B/1189 (19/01/2021)

All quasi judicial proceedings under the EPF & MP Act, 1952 for which functionality has been created in the 'e proceedings portal' must be conducted through the portal. If conduct of proceedings is not possible in any case through the portal for functional or technical reasons must be brought to the notice of the concerned Zonal Offices....

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EPFO amends conditions for Amount to be invested in Debt & Related Investments

Notification No. S.O. 28(E) (04/01/2021)

Units of Debt Exchange Traded Funds (ETFs) regulated by the Securities and Exchange Board of India and managed by an asset management company appointed as per an agreement with Government of India, specifically meant to invest in the bonds of the Central Public Sector Enterprises, Central Public Sector Undertakings, Central Public Financi...

Read More

Rate of Interest for EPF Members for year 2019-20 declared

File No. INV-11/1/2020-INV (04/01/2021)

The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under para 60(1) of Employees' Provident Fund Scheme, 1952 to credit interest @ 8.50 % for the year 2019-20 to the account of each member of the EPF Scheme as per the provisions under Para 60 of EPF Scheme, 1952....

Read More

Aatmanirbhar Bharat Rozgar Yojana for EPFO Registered Employees

Aatmanirbhar Bharat Rozgar Yojana (ABRY) For Employees Provident Fund Organisation (EPFO) Registered Employees As a part of Aatmanirbhar Bharat 3.0 package, the Central Government has launched the Aatmanirbhar Bharat Rozgar Yojana on 12th November 2020 to incentivize creation of new employment opportunities during the COVID-19 recovery ph...

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Posted Under: Corporate Law |

Scheme Guidelines for Implementation of Aatmanirbhar Bharat Rozgar Yojana

Notification No. CAIU/011(16)2020-21/ABRY/1179 (31/12/2020)

Scheme Guidelines for Implementation of Aatmanirbhar Bharat Rozgar Yojana (ABRY) - to incentivize creation of new employment opportunities in EPFO registered establishments....

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