Provident Fund - Page 26

Four million private PF subscribers may lose tax benefits

Over four mn employees affiliated to over 2,500 private provident funds face the threat of losing income tax benefits on their PF contributions, as the government seems to be having second thoughts over giving these bodies permanent recognition. Taking a plea that privately-run PFs are violating investment accounting norms, the Labour Min...

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Posted Under: Income Tax |

SC rules provident fund subscriber is ‘consumer’

The Supreme Court has held that services rendered by the office of Regional Provident Fund Commissioner of the Employees Provident Fund Organisation will fall within the ambit of ‘service’ under the provisions of Consumer Protection Act (1986) and the subscriber under the Provident Fund scheme is a ‘consumer’ under this Act....

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Posted Under: Income Tax |

Compliance Calendar under Various Statutory Laws in India

Compliance Calendar under Direct Tax Laws. Compliance Calendar under Indirect/Corporate & Labour Laws. Payment of monthly dues of Provident Fund. Monthly return in Form 5 for employees joining Provident Fund during previous month along with declaration in Form 2 furnished by the employees. Monthly return of PF in Form 10 of employees lea...

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Posted Under: Income Tax |

Deduction on actual payment – Payments towards PF and ESIC

CIT vs Dharmendra Sharma (Delhi High Court)

CIT vs Dharmendra Sharma - This decision was taken in appeal before the Supreme Court and by an order dt. 7th March, 2007 [reported as CIT vs. Vinay Cement Ltd. (2007) 213 CTR (SC) 268—Ed.], the Supreme Court observed that it was concerned with the law as it stood prior to the amendment of s. 43B of the Act. The assessee was entitled to...

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Clarification issued by PF Dept in ‘2005 requirng the inclusion of Leave Encashment for PF contributions

Provident fund contributions need not be deducted from the payment made towards annual leave encashment, the Madurai Bench of the Madras High Court has ruled. Allowing a batch of writ petitions filed by various factories, Justice K. Chandru said leave encashment could not be considered part of the basic wage for deducting provident fund c...

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Posted Under: Income Tax |

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 Miscellaneous Provisions Act, 1952....

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