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...
Employer of the establishment covered under the Act is directed to a. Declaration in Form No. 11: Get the declaration in Form No. 11(New) from all the employees joining the establishment in a month and eligible to become member of the Fund and upload the same in Universal Account Number (UAN) Portal within 25 days […]
This Scheme may be called the Employees’ Provident Funds (Second Amendment) Scheme, 2015. In the Employees’ Provident Funds Scheme, 1952 (hereafter referred to as Principal Scheme), in sub-paragraph ( ) of paragraph 38,‑ (i) for the words by separate hank drafts or cheques, the words electronic through internet banking of the State Bank of India or any other Nationalised Bank authorized for collection shall be substituted.
Provident Fund (PF) is one of the best fixed-income instruments. This is so because PF is the ONLY debt product apart from PPF, where the interest rate is not only quite attractive but more-importantly tax free as well. Secondly, there is no limit on the amount. Disciplined saving every month is another plus point.
The Finance Act, 2015 (20 of 2015) has Inserted a new section 192A regarding the payment of accumulated provident fund balance due to an employee. The Provision Shall Take effect from 01st June 2015. Income Tax should be deducted at source (TDS) at the following rates if at the time of payment of the accumulated PF balance is more than or equal to Rs. 30,000/-, with service than 5 years:-
Employees’ provident fund Provident fund scheme is as a retirement benefit scheme. Under this scheme, a stipulated sum is deducted from the salary of the employee as his contribution towards this fund. The employer also generally contributes simultaneously an equal amount out of its pocket to the fund. The contributions of employee and employer are […]
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.
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 Fund and other similar funds) including […]
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 possible, […]
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.
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?