Provident Fund

Taxability of EPF withdrawn of Accumulated Balance before 5 years & International Employees Exemption

Corporate Law - EPF Taxability if withdrawn before 5 year of Service & Foreign Employees Exemption...

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Rates of contribution of EPF, EPS, EDLI, Admin charges in India

Corporate Law - Employees’ Provident Fund- Contribution Rate The EPF & MP Act, 1952 was enacted by Parliament and came into force with effect from 4th March, 1952. A series of legislative interventions were made in this direction, including the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952. Presently, the following three...

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Combining various EPF accounts through UAN

Corporate Law - Currently UAN (Universal Account Number) has become mandatory for every employee and UAN remains portable throughout the lifetime of an employee and they don't have to apply for PF transfer claims at changing jobs, because merely providing your UAN number to your new employer shall be sufficient so the employees starting their career afre...

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Due dates Under Income Tax, GST, PF, ESIC for December, 2017

Corporate Law - A GLIMPSE OF ALL THE DUE DATES UNDER INCOME TAX, GST, PF, ESIC FALLING IN THE MONTH OF DECEMBER, 2017 Calender for the Month of December, 2017 7th Dec 2017:- Income Tax, Income Tax Due date for deposit of Tax Deducted /Collected for the month of November, 2017 10th Dec 2017:- GST–  Filing of returns […]...

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EPF: Process flow for Online Request for Correction in Name, Date of Birth and Gender

Corporate Law - It has been seen that many EPF members are facing problem in seeding Aadhaar with their UAN as there is mismatch in Name, DOB or Gender between Aadhaar data and UAN data. Presently member and employer are required to give joint request to concerned EPFO field office for correction in basic details. ...

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7.8% interest on General Provident Fund for Oct 17 to Dec 17

Corporate Law - Government of India has announced that during the Financial Year 2017-18, accumulations at the credit of subscribers to the General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8% (Seven point eight per cent) with effect from 1st October, 2017 to 31st December, 2017. This rate will be in force w.e.f. ...

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EPFO members can link their UAN with Aadhaar online

Corporate Law - EPFO is pleased to introduce a new facility for its esteemed members having Universal Account Number (UAN) and other relevant details to link their respective UAN with Aadhaar online. This, in turn, would facilitate the members, a better and speedy EPFO services....

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PFRDA rolls out Aadhaar based APY Subscription through eNPS platform

Corporate Law - PFRDA rolls-out Aadhar Powered Digital on Boarding into APY through eNPS platform for wider reach; Benefits of APY@eNPS include paperless registration; No need to visit Bank Branch & to have Banking Id and 24*7 Online En-rollment at the customer’s convenience. Pension Fund Regulatory and Development Authority (PFRDA) has embarke...

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Collections of EPF started with 4 more banks in addition to SBI

Corporate Law - ollections of EPF dues have been started with PNB, Allahabad Bank, Indian Bank, Union Bank of India in addition to State Bank of India through direct online mode. ...

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5 steps taken by EPFO for speedy settlement of claims

Corporate Law - The Employees’ Provident Funds Organization (EPFO) has taken various steps for speedy settlement of claims which inter alia include: 1. Composite Claim Form (Aadhaar) and Composite Claim Form (Non-Aadhaar) has been introduced by replacing the erstwhile Claim Forms No. 19, 10C and 31, with a view to simplify the submission of claims by t...

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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...

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Contribution to unrecognized Provident fund not eligible for deduction U/s. 80C

M/s. Kodakkad Service Co-operative Bank Ltd. Vs The Income Tax Officer (TDS) (ITAT Cochin) - Admittedly, the contributions of the assessees to the Provident Fund are not a recognized Fund, the same are not eligible for deduction u/s. 80C (2) (vi) of the I.T. Act. ...

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Coal Mines Provident Fund Commissioner is a Public Officer / Servant – Supreme Court

Coal Mines Provident Fund Commissioner through Board of Trustee Vs. Ramesh Chandra Jha (Supreme Court of India) - Having considered the submissions made on behalf of the Appellant and the Respondent appearing in-person, we are of the view that the judgment and order of the High Court does not require any interference, particularly when the issue raised in this Appeal has already been decided by this Court in Ci...

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In case of default by the employer by an exempted establishment, in making its contribution to the Provident Fund Section 14B of the Act will be applicable – SC

Regional Provident Fund Commissioner Vs The Hooghly Mills Co. Ltd. & Ors. (Supreme Court of India) - RPFC Vs. The Hooghly Mills Co. Ltd. & Ors.(SC) - .The question which falls for consideration before this Court in this case is whether the employer of an establishment which is an ‘exempted establishment’ under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (hereinafte...

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SC allows clubbing of two establishments as one for the purposes of the PF as there was unity of ownership, management, control, finance, labour and functional integrity

L. N. Gadodia & Sons & ANR. Vs. Regional Provident Fund Commissioner (Supreme Court of India) - L. N. Gadodia & Sons & ANR. Vs. Regional Provident Fund Commissioner (Supreme Court of India)- When two establishments are run by the same family under a common management with common work force and with financial integrity, they are expected to be treated as branches of one establishment for the pu...

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Employees’ Deposit Linked Insurance (Amendment) Scheme 2018

No. EDLI/Actuarial/18 (3)/2014/26694 - (21/02/2018) - Employees' Deposit Linked Insurance (Amendment) Scheme 2018. The Gazette notification G.S.R. No. 170 (E) on assurance benefits shall not be less than two lakhs and fifty thousand rupees under para 22 (3) of EDLI Scheme, 1976 dated 15-02-2018- Reg....

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Compliance of Labour Laws relating to Contract Labour hired by Railways

No.CAIU/011(33)2015/HQ/VoI.III - (06/02/2018) - In this regard, a letter is being issued to all General Manager of Indian Railways (all Zones), Kolkata Metro Corporation, Director General, RDSO and Chairman & Managing Director, IRCTC for ensuring compliance in respect of contract workers being Principal Employers....

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EPFO to digitise existing Form No. 9 documents prior to 1st April, 2012

No. WSU/10(1)2011/Changes in MAP/24122 - (19/01/2018) - Following steps are to be followed to digitize physical Form No. 9:- 1) Scanning of physical Form No. 9 and upload the same in the system 2) Approval of scanned copy of Form No. 9 3) Approval of member data available in the system 4) Archiving the scanned Form-9 duly indexed for reference....

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No need to upload scanned copy of PAN Card during EPF Registration

No. CAIU/011(2)2018/PAN card/16815 - (08/01/2018) - At the time of registration of an establishment, employer has to upload digitally signed copy of PAN card. There is a mandate of Ease of Doing business to eliminate the requirement of submitting scanned copy of PAN card at the time of registration....

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EPFO targets Zero current default by 31.03.2018

No. CAIU/011(1)2018/Zero Default/16816 - (08/01/2018) - Real Time Default Management System is in operation in EPFO for reducing current default of establishments. New Enforcement Officers are also being provided to Regional Offices after completion of their training for effective default reduction....

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Recent Posts in "Provident Fund"

Employees’ Deposit Linked Insurance (Amendment) Scheme 2018

No. EDLI/Actuarial/18 (3)/2014/26694 (21/02/2018)

Employees' Deposit Linked Insurance (Amendment) Scheme 2018. The Gazette notification G.S.R. No. 170 (E) on assurance benefits shall not be less than two lakhs and fifty thousand rupees under para 22 (3) of EDLI Scheme, 1976 dated 15-02-2018- Reg....

Read More

Taxability of EPF withdrawn of Accumulated Balance before 5 years & International Employees Exemption

EPF Taxability if withdrawn before 5 year of Service & Foreign Employees Exemption...

Read More
Posted Under: Corporate Law |

Compliance of Labour Laws relating to Contract Labour hired by Railways

No.CAIU/011(33)2015/HQ/VoI.III (06/02/2018)

In this regard, a letter is being issued to all General Manager of Indian Railways (all Zones), Kolkata Metro Corporation, Director General, RDSO and Chairman & Managing Director, IRCTC for ensuring compliance in respect of contract workers being Principal Employers....

Read More

Rates of contribution of EPF, EPS, EDLI, Admin charges in India

Employees’ Provident Fund- Contribution Rate The EPF & MP Act, 1952 was enacted by Parliament and came into force with effect from 4th March, 1952. A series of legislative interventions were made in this direction, including the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952. Presently, the following three...

Read More
Posted Under: Corporate Law |

EPFO to digitise existing Form No. 9 documents prior to 1st April, 2012

No. WSU/10(1)2011/Changes in MAP/24122 (19/01/2018)

Following steps are to be followed to digitize physical Form No. 9:- 1) Scanning of physical Form No. 9 and upload the same in the system 2) Approval of scanned copy of Form No. 9 3) Approval of member data available in the system 4) Archiving the scanned Form-9 duly indexed for reference....

Read More

No need to upload scanned copy of PAN Card during EPF Registration

No. CAIU/011(2)2018/PAN card/16815 (08/01/2018)

At the time of registration of an establishment, employer has to upload digitally signed copy of PAN card. There is a mandate of Ease of Doing business to eliminate the requirement of submitting scanned copy of PAN card at the time of registration....

Read More

EPFO targets Zero current default by 31.03.2018

No. CAIU/011(1)2018/Zero Default/16816 (08/01/2018)

Real Time Default Management System is in operation in EPFO for reducing current default of establishments. New Enforcement Officers are also being provided to Regional Offices after completion of their training for effective default reduction....

Read More

Combining various EPF accounts through UAN

Currently UAN (Universal Account Number) has become mandatory for every employee and UAN remains portable throughout the lifetime of an employee and they don't have to apply for PF transfer claims at changing jobs, because merely providing your UAN number to your new employer shall be sufficient so the employees starting their career afre...

Read More
Posted Under: Corporate Law |

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 authority confirmed the order of dis-allowance ...

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Clarification on Monthly EPF return to be filed by Exempted Establishments

No. C-Ex/Ex - Return/2013/Vol. II/15920 (19/12/2017)

It is hereby clarified that Part -E shall contain the information related to the actual investments and other receipts/payments made in the wage month with which the online return For example in monthly return of March 2017, Part - E will contain the actual contribution receipts, payments and details of the investments made between 01 Mar...

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