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Corporate Law : Govt announced a significant step towards enhancing the ease of living for pensioners by integrating the pension portals of all pe...
Corporate Law : Review the preliminary draft of PFRDA's proposed regulations for making and reviewing pension fund policies. Share your feedback b...
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Income Tax : In the case of G.K. Reddy vs. DCIT, Madras High Court has directed the Income Tax Department to lift the attachment of a pension a...
Income Tax : Read the full text of the judgment by Punjab and Haryana High Court granting a refund of income tax on exempted disability pension...
Corporate Law : Patna High Court held that petitioner is duly entitled for at least 5% Simple interest on delayed payment of pension and gratuity....
Corporate Law : Employees Provident Fund Organisation & Anr. Etc. Vs Sunil Kumar B. & Ors. Etc. (Supreme Court of India) The Apex Court on...
Income Tax : Denial of pension is a continuing wrong. This Court cannot also be oblivious to the difficulties of a retired employee in approach...
Corporate Law : Discover the 2024 PFRDA cybersecurity policy guidelines for intermediaries and regulated entities, ensuring robust IT protection a...
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Corporate Law : Government of India announces a 4% increase in Dearness Relief for pensioners effective from January 2024. Details & implications ...
Understanding the taxation implications of gratuity, pension, and retirement compensation for salaried individuals. Get clarity on the financial aspects.
In case the Head of Office is satisfied that it is not possible for the retiring Government Servant to open a joint account with his/her spouse for reasons beyond his/her control, this requirement may be relaxed.
Veena Pandey Vs Union of India (Supreme Court of India) Pension as is well known, is the deferred portion of the compensation1 for rendering long years of service. It is a hard-earned benefit accruing to an employee and has been held to be in the nature of property by this Court, in State of Jharkhand […]
PY through e KYC: As of now, the enrolment of Subscribers happens through physical, net banking or other digital modes provided by the respective APY-SPs (APY Service Providers).
(1) These rules may be called the Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.
It is proposed to introduce Instant Bank Account Verification in the interest of underlying Subscribers for orderly processing of their exit requests. The following guidelines are issued for facilitating timely transfer of withdrawal amount in the Bank Account of APY Subscribers and also as an additional due diligence to protect their corpus lying in the Permanent Retirement Account Number (PRAN). There could be two scenarios at the time of exit which are explained as under:
The Central Record Keeping Agencies (CRAs) appointed by PFRDA develop system level functionalities as per the evolving needs of NPS stakeholders in accordance with Section 21 of PFRDA Act 2013.
In a bid to provide relief to families of bank employees, the Government has approved the Indian Banks’ Association’s proposal to increase the family pension to 30% of last salary drawn. This move would make family pension go up to as much as Rs 30,000 to Rs 35,000 per family of bank employees.
The POP, where BCs or Agents are part of their already existing business structure may engage them for facilitating the distribution of pension schemes as well.
Once KYC Identifier is generated by CKYCR, PoPs shall ensure that the same is communicated in writing and in confidential manner to the subscribers in accordance with Rule 9 (1B) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended;
