Corporate Law : Learn about EPFO & ESIC registration, applicability, and the step-by-step process for compliance. Ensure social security for your ...
Corporate Law : Explore the constitutionality of provisions for international workers under the EPF & MP Act-1952. Analyzing key aspects, includin...
Corporate Law : Article explains EPFO's 2024 updates including automatic PF transfer, salary limit revisions & employer contributions. Stay compli...
Corporate Law : Learn the distinctions between EPF and ESIC, including eligibility, contributions, benefits, and compliance requirements. Ensure c...
Corporate Law : Delve into the nuances of Provident Fund (PF) and Employee State Insurance Corporation (ESIC) schemes in India. Learn about eligib...
Corporate Law : EPFO is revolutionizing service delivery by introducing auto-mode settlement for education, marriage, and housing claims, reducing...
Corporate Law : EPFO grants a five-month extension to employers for uploading wage details regarding pension on higher wages. Learn about the late...
Corporate Law : Explore EPFO's SOP for freezing and de-freezing MIDs, UANs, and Establishments to safeguard funds, verify genuineness, and prevent...
Corporate Law : Read the Standard Operating Procedure (SOP) for EPFO inspections, promoting fairness and ease of compliance while protecting worke...
Corporate Law : Learn how to file complaints with EPFO Vigilance, following CVC guidelines. Ensure genuine complaints with evidence for proper act...
Corporate Law : Karnataka High Court rules in favor of employers & employees, declaring para 83 of EPF Scheme & para 43A of Pension Scheme unconst...
Income Tax : Trimbak Konher Patil vs ITO: Bangalore ITAT decision clarifies that if employees' contributions are not paid on time as per PF Act...
Income Tax : Learn about the ruling by ITAT Kolkata stating no deduction can be claimed if employees' contributions deducted from salaries were...
Income Tax : Explore the legal dispute between Kaarya Facilities and ITO over the interpretation of Section 36(1)(va). Due date for wages under...
Income Tax : Read the full text of the order of ITAT Pune regarding the disallowance of late deposit of Employees’ share of PF and ESIC by Ko...
Corporate Law : EPFO releases SOP for managing EPF exempted establishments, including finalized Form RM-6 for third-party audits. Ensure complianc...
Corporate Law : Learn about EPFO new SOP for freezing/defreezing UAN/MID/Establishment effective from June 30, 2024. Read the detailed procedure a...
Corporate Law : EPFO introduces a new relaxation, eliminating the need to upload cheque leaf images for certain eligible cases, expediting claim s...
Corporate Law : EPFO allows processing of physical claims without Aadhaar in death cases to avoid delays, subject to verification and approval by ...
Corporate Law : Get clarity on GPF interest exceeding 5 lakhs. Learn about revised provisions & implications for government servants' GPF subscrip...
Explanatory memorandum to the Finance Act, 2021 proposing amendment in section 36(1)(va) as well as section 43B is applicable only from 01.04.2021. These provisions impose a liability on an assessee and therefore cannot be construed as applicable with retrospective effect unless the legislature specifically says so. In the decisions referred to by us in the earlier paragraph of this order on identical issue the tribunal has taken a view that the aforesaid amendment is applicable only prospectively i.e., from 1.4.2021.
Navrathan Jewellers Pvt. Ltd. Vs ADIT (ITAT Bangalore) Explanatory memorandum to the Finance Act, 2021 proposing amendment in section 36(1)(va) as well as section 43B is applicable only from 01.04.2021. These provisions impose a liability on an assessee and therefore cannot be construed as applicable with retrospective effect unless the legislature specifically says so. In […]
Mr Harsh Kaushik, Deputy Director (Information Services); E-mail Id- help@epfindia.gov.in; has been nominated as grievance redressal officer who can be contacted by any employer to mitigate any technical problem in filling of ECR arising due to Aadhaar seedings/non-seedings with UANs.
Now it has been provided that the due date in section 43B is of no consequence to judge the applicability of provisions of section 36[1][va]of the Act and that too with effect from 01.04.2021.
Enhancement of Ex gratia Death Relief Fund of Rs. Eight Lakhs in the event of death of an employee of the Central Board due to Non -Covid-19 (normal death) -Regarding. File No.B-11/1/2020–HRM-VI/3362 EPFO, HEAD OFFICE MINISTRY OF LABOUR & EMPLOYMENT, GOVERNMENT OF INDIA 14, BHIKAIJI CAMA PLACE. NEW DELHI 110066 www,epfindia.gov.in 02 NOV 2021 To, […]
EPFO issues instructions to credit interest of 8.5% for the year 2020-21 into some 25.0 crore accounts of members with EPFO vide Circular No. INV-11/1/2020-INV Dated: 30.10.2021. Employees’ Provident Fund Organisation (Ministry of Labour & Employment, Govt. Of India) Head Office Bhavishya Nidhi Bhawan, 14- Bhikaiji Cama Place, New Delhi – 110066 www.epfindia.gov.in/www.epfindia.nic.in No. INV-11/1/2020-INV […]
Withdrawal of tax exemption for interest accrued on Employees Provident Fund (EPF) in specified cases Finance minister Nirmala Sitharaman in her budget speech had proposed to cap the tax exemption for interest accrued on Employees Provident Fund (EPF) and Voluntary Provident Fund (VPF) in the third Union Budget she presented. The Income Tax Act, 1961, presently provides […]
Finance Act 2021 made an amendment in sub-sections (11) and (12) of section 10 of the Income Tax Act to provide that interest accrued on a provident fund account of any person to the extent it relates to the contribution made by the employee over and above Rs. 2,50,000 (Rs. 5,00,000 in case where employer is not […]
1. The Government had capped the tax-free interest earned on provident fund contribution by employees to a maximum of Rs. 2.5 lakh in a year vide Budget 2021-22. 1.1 Section 10(11) and 10(12) of the Income Tax Act provides an exemption for the statutory provident fund and recognized provident fund respectively. Till 31st March 2021, […]
With an amendments passed in the Finance Act, 2021, government has take away the benefit of exemption from taxation (w.e.f financial year 01st April, 2021 and onwards) which was earlier available for an interest income earned by the taxpayers on their provident fund contribution. However, their specific rules to determine their taxability was awaited from […]
