Provident Fund - Page 26

Single Online Common Return under 8 Central Labour Acts / Rules

Facility for Filing Online Single Return to be Launched Tomorrow The facility for filing Single Online Common Return under 8 Central Labour Acts / Rules on the ShramSuvidha Portal will be launched tomorrow. This service will reduce the transaction costs of business and make it easy and convenient to meet their obligations....

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Posted Under: Corporate Law |

Govt fixes 8.7% Interest rate on General Provident Fund(GPF) for Financial Year 2015-16

Government Decides to Fix Interest Rates at 8.7% for General Provident Fund(GPF) and other Similar Funds Including Special Deposit Scheme, 1975(SDS,1975) for Non-Government Provident, Superannuation and Gratuity Funds for the Financial Year 2015-16 It was decided by the Government to link the interest rates of State PFs (General Provident...

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Posted Under: Corporate Law |

How to Compute Basic Wages for Employee Provident Fund

ITEMS INCLUDED IN BASIC WAGES BASIC WAGES – HOW TO CONSTRUE The expression ‘basic wages’ has to receive an interpretation which would achieve the object of the enactment. The Act has to be considered in its proper perspective and contextual so as to fructify the legislative intentions underlying the enactment. If two views are possi...

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Posted Under: Corporate Law |

All about Employee 'Provident Fund'

Employees Provident Fund (EPF/PF) is normally referred to as a retirement plan for employees. 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month is deducted from employee’s salary and 12% is contributed by the employer....

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Posted Under: Corporate Law |

Employees Provident Fund – FAQs

What is the Contribution for Provident Fund both by the Employer & Employee?: The Employee contributes 12% of his /her Basic Salary & the same amount is contributed by the Employer.Is it Compulsory for the all the employees to contribute to the Provident Fund?...

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Posted Under: Corporate Law |

Know online status of claim under EPF (Employee Provident Fund)

The Employees' Provident Fund Organisation has launched a facility for online verification of status of the claim under the EPF. Please click on the following link to find the status of your claim submitted in any of the EPFO Office....

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Posted Under: Corporate Law |

Impact on employees of Enhancement of wage ceiling from Rs. 6500/- to Rs. 15000/-

Vide notification dated 22.08.2014 Ministry of Labour and employment has enhanced the ceiling of wage from Rs. 6500/- to Rs. 15000/- for the computation of contribution to Provident fund for both employer and employee contribution. Extract of the Notification 608(E)- In exercise of powers conferred by section 6A read with sub section (1) ...

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Govt. Launches Online PF Code Allotment System

Shri Narendra Singh Tomar Launches Online PF Code Allotment System The Union Minister for Steel, Mines and Labour & Employment, Shri Narendra Singh Tomar has launched the online registration system for allotment of Provident Fund Code Number, which can be used by establishments in New Delhi today. On the occasion, he said that his Gov...

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Posted Under: Corporate Law |

Companies CAP Provident Fund (PF) contribution to Rs. 6500

Ref. No. LC(637)2009/Vol.I/203 (27/05/2014)

All the Regional Provident Fund Commissioners-In-charge of Regional /Sub-Regional Offices are, therefore, directed not to force employers to contribute over and above the statutory wage ceiling in respect of their employees. However, option is available for the employees to contribute beyond the statutory wage ceiling if they so desire su...

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Provident Fund Act – a clarification on Occupier needed

The present provident fund act needs an urgent clarification definitive meaning of the concept of “occupier”. In practice, it is misunderstood and is a subject of litigation in a number of cases across India. [A] The Clause 2(k) of the PF Act 1952, defines an Occupier means the person, who has ultimate control over the […]...

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Posted Under: Corporate Law |

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August 2020