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Saturday, December 20, 2014

Provident Fund Interest for F.Y 2014-2015 @ 8.75%

Dear All,

The CBT had decided the interest rate in the meeting held on 26th August but the procedure of the implementation of the interest rate of provident fund requires approval for the same by the Finance Ministry. The decision would now be notified by the Labour Ministry and Income Tax Department.
The interest rate was increased by .25% in 2013-14 (8.75%) from the year 2012-13 (8.50%). But this year the interest rate remains same as previous year.

Historical Provident Fund Interest Rate since 1952

Historical Provident Fund Interest Rate


  • For Fiscal Year 1978-79 bonus of 0.5% was applicable to the members who did not withdraw any amount from their Provident Fund account during 1976-77 and 1977-78.
  • For Fiscal Year 2000-01, interest rate was 12% for the quarter starting from April to June, thereafter 11% from July onward on monthly running balance.
  • For Fiscal Year 2004-05, bonus of 0.50% was Golden Jubilee Interest Rate bonus


Monday, December 01, 2014

Pan India Holiday List 2015

Dear all,

Appended below is the Holiday List 2015 of various states 

Maharashtra :- Holiday list in Maharashtra in 2015

Tamil Nadu:- Tamilnadu holiday 2015

Kerala :- Kerala Holiday List 2015

West Bengal :- West Bengal Holidays 2015

Gujarat :- Gujarat public-holiday-2015

Himachal Pradesh:- Himachal Pradesh Holidays_for_the_Year_2015

Karnataka:- Karnataka List of Holidays 2015

Telangana :- TELANGANA-Holiday List 2015

Delhi:- Delhi holiday_list2015

Sunday, November 30, 2014

Providing e-payment facility for Profession Tax, Luxury Tax and Sugarcane Purchase Tax through GRAS

Dear all,

Department of Sales Tax , Govt. of Maharashtra. has introduced e-payment facility for Profession Tax, Luxury Tax and Sugarcane Purchase Tax through GRAS

Necessary Notification & Link is provided below


Notification:-e-payment facility for Profession Tax, Luxury Tax and Sugarcane Purchase Tax through GRAS

Wednesday, November 26, 2014

AADHAR Enrollment Camp at all EPF Office

As we all are aware the UAN  under EPFO has been implemented and in this regards Bank Account Number & IFSC Code is Compulsory under the UAN Program. ​As we all Know, in this regards Our Prime Minister has launch​​ (pradhan mantri jan dhan yojana). Hope all employees of your organisation must have opened the Bank account in regards to KYC terms. Under UAN , PAN Number & AADHAR Number is must. As many employees might not be falling under the bracket of  taxable income  so they might not be having PAN Number in order to simplify the Compulsory KYC terms so in that case AADHAR Number is must. 

As many Employees have still not Enrolled the AADHAR Number, Unique Identification Authority of India has instructed all EPF office to make arrangement to Enroll all EPF subscriber to enroll under AADHAR  as this will be the compulsory​​ KYC Norms for Online Withdrawal application which will be launched in December 2014 as per information received from sources.

Pls refer to the said circular as enclosed where in all the Regional office & Sub regional office has been instructed to provide arrangement for enrolling in AADHAR.

I request all of My friends & colleagues to get themselves enroll in AADHAR.

Friday, October 31, 2014

EPF New Declaration Form

Dear All,

As New EPF Declaration form has been introduce by the dept all employer are requested to get fill in for all employees covered under EPF or Excluded 

The respective form is to be kept ready for reference as & when  EPF dept demand for verification 

New EPF Declaration Forrm

Thursday, September 18, 2014

Mandatory Bank Account at the time of Joining EPF Fund

Dear Employer,
Central Government has issued direction under Para 78(1) of the Employees’ Provident Funds Scheme, 1952 to issue order making submission of Bank Accounts by the members mandatory in order to facilitate the allotment of Universal Account Number, proper implementation of the Employees’ Provident Funds Scheme, 1952 and removal of the difficulties in the matter of payment of accumulations in the Fund to members after they cease to be such members.
Accordingly, the Central P.F.Commissioner in exercise of powers conferred under Para 78(3) of Employees’ Provident Funds Scheme 1952, issued order making submission of above account of members compulsory. The said order dated. 17.09.2014 is as under :-
Subject : Submission of Bank Account details regarding members 

of the Fund.

In view of the directions issued by the Central Government (the Ministry of Labour & Employment, Govt. of India) under para 78(1) of the EPF Scheme, 1952. I, K.K. Jalan, Central Provident Fund Commissioner, hereby issue the following directives in exercise of powers under para 78(3) of the EPF Scheme, 1952 :
1.Every employer henceforth will provide the core banking account number with IFSC code of the bank branch in respect of every new member on joining the Fund.
2.The employer will also furnish the information regarding the core banking account number with IFSC code of the bank branch in respect of existing members by 15.10.2014.
3.The employer will also provide the core banking account number with IFSC code of the bank branch in respect of previous members under its employment by 31.10.2014.
4.The members of the fund who are presently not employees of any establishment covered under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 will provide their core banking account numbers with IFSC code of the bank branch, a crossed cheques folio with member’s name printed thereon and their previous Provident Fund account number themselves at any Regional or Sub Regional Office of the Employees’ Provident Fund Organisation. This information shall be provided by 30.11.2014.
These directions will come into force with immediate effect.
In view of the above you are advised to ensure the uploading of 100 % Bank Account in respect of all your employees. 

Respective Circular Enclosed for your ready reference.

Thursday, August 28, 2014

EPF & EPS Scheme Amended W.E.F 1st Sep 2014

The EPF Act and Scheme Amended w.e.f 01-09-2014;
Salient Features are;
1. Wages Ceiling of EPF increase to Rs. 15000.
2. Minimum pension Rs. 1000 for 2014-15.
3. EDLI benefit increase by 20 percent.

Wednesday, August 27, 2014

RBI’s Recent simplified KYC Measures for Opening Bank account

Dear Sir,

The Reserve Bank of India today released a note along with a poster and a booklet comprising a few common questions relating to Know Your Customer (KYC) norms for opening bank accounts. The objective of this is to bring awareness among the general public about the KYC simplification measures taken by the Reserve Bank in the recent times with a view to helping the common man in opening bank accounts

In my view as RBI has simplified the process we can open Bank account  easily

Pls find enclose is the RBI Circular for the respective Process 

Friday, August 08, 2014

Maharashtra Minimum Wages ( Special allowance W.E.F 1st July 2014 to 31st Dec-2014)

Dear All,,

Pls refer to the said attachment as attach below is the Maharashtra Minimum Wages ( Special allowance  W.E.F 1st July 2014 to 31st Dec-2014)

Maharashtra Minimum Wages ( Special allowance W.E.F 1st July 2014 to 31st Dec-2014)

EPFO New Circular for Withdrawal under para 68 B

Dear All,

Pls find attach EPFO new circular for withdrawal under para 68 b ,,this will help employee to get advance from his EPF without any headache..

 EPFO New Circular for Withdrawal under para 68 B

Social Security Agreement between Republic of India and the Kingdom of Sweden

Dear All,

EPFO has entered in to Social Security Agreement between Republic of India and the Kingdom of Sweden appende d below is the Notification of the same

Social Security Agreement between Republic of India and the Kingdom of Sweden

implementation of Agreement on Social Security with the Republic of Finland with effect from 1st August, 2014

Dear all,

Implementation of Agreement on Social Security with the Republic of Finland with effect from 1st August, 2014

 Appended Below is the copy of the same

Implementation of Agreement on Social Security with the Republic of Finland with effect from 1st August, 2014

Monday, July 14, 2014

Budget Speech of Arun Jaitley Minister of Finance 10th July, 2014 - -Gazetted copy

Dear All,

Pls find enclosed  the Budget Speech of Arun Jaitley Minister of Finance 10th July, 2014 -Gazetted copy

Pls refer to Page No 29 in regards to Provident fund ceiling increase in mandatory wage ceiling of subscription to EPF from `Rs  6,500 to Rs 15,000

Budget Speech of Arun Jaitley Minister of Finance 10th July, 2014 -Gazeeted copy

Tuesday, July 08, 2014

Maharashtra New Profession tax Amendment 2014

Dear All,

Enclosed is the new Profession tax slab of Maharashtra as passed in the recent Budget

the New Slab As Follow

Maharashtra Govt, has amended Profession Tax Act wef 1.7.2014 and changed P. Tax slabs are as follows. 

Monthly gross salary do not exceed Rs.7500/- P Tax Rs. Nil 

Monthly gross salary exceed Rs.7501 but do not exceed Rs.10000/- P Tax Rs.175/- pm.

Monthly gross salary exceed Rs.10000/- P Tax Rs.200/- pm and in Feb Rs.300/- pm

Amendment in Maharashtra State Professions Tax Slab

Tuesday, May 20, 2014

Amendment in Employees Provident Fund Scheme in regards to Settlement of inoperative accounts

Dear All,

Pls find enclosed is the Gazetted copy in regards to Employees Provident Fund Scheme in regards to settlement of inoperative accounts 

In brief  

if the settlement of claim in respect of inoperative account is delayed for more than thirty days from the date of receipt of the application for settlement of claim, interest shall be credited to the account in accordance with sub paragraph (2) for delay period excluding the period of thirty days."

This is a very good Move in regards to this amendment settlement might be done in a faster speed  

The necessary Gazetted copy id Enclosed for your ready reference 

Monday, May 19, 2014

GuJarat New Minimum wages 1st Apr 2014 to 30th Sep-2014

Dear All Friends

As per my Information inserted in my previous blog in regards to the New Minimum wages of Gujarat it is still not been finalized due to  General Elections etc

Further New DA has been introduce for the period 1st Apr 2014 to 30th Sep 2014
Old Basic Daily wage remains the same

Gujarat Minimum wages 1st Apr-2014 to 30th Sep-2014

Thursday, May 08, 2014

Monday, April 07, 2014

Tuesday, April 01, 2014

Notice From ELECTION COMMISSION OF INDIA 2014 in regards to grant Paid Holiday

Dear All,

Appended below is the circular as issued from ELECTION COMMISSION OF INDIA in regards to General Elections to the Loksabha 2014 and General Election to the Legislative Assemblies of Andhra pradesh, odisha, Sikkim and Arunachal Pradesh and Bye Elections to fill the clear vacancies in Assembly constituencies of various states  to grant  Paid Holiday on the respective dates of Election 

As per Section 135 (B)  Representation of the People Act, 1951 

(i) Every person employed in any business trade, industrial undertaking or any other establishment and entitled to vote at election to the House of the people or the Legislative Assembly of a State shall, on the day of poll, be granted a holiday.

(ii) No deduction or abatement of the wages of any such person shall be made on account of a holiday having been granted in accordance with sub-section (l) and if  such person is employed on the basis that he would not ordinarily receive wages for such a day, he shall nonetheless be paid for such day the wages he would have drawn had not a holiday been granted to him on that day.

Wednesday, March 26, 2014

Friday, March 21, 2014

Gujarat New Minimum wages effective from 25th Feb 2014

Dear All,

Pls refer to the draft Notification in regards to the New Minimum  wages effective from 25th Feb-2014 . Earlier the Minimum wages were revised on 11th Feb 2009 

In the present Notification the Rate of Wages is Fixed in three categories 

Sr No
Classes of Employees.
Rates     Payable per day(Rs.).
Rates     Payable per day(Rs.).

Zone( 1)
Semi Skilled

Note:Please refer Annexure annexed herewith for details of employees belongs to particular class (i.e.Skilled, Semi-skilled and Un-skilled) of particular Schedule employment.)

(a) The basic rates of wages as set out in column 3 of the Schedule appended here to in
respect of zones specified in the said column for the employees employed in the said
scheduled employments in the State of Gujarat as the basic rates payable by the day
respectively in suchzones to the classes of the employees mentioned against them in
column2 thereof ;and

(b) a special allowance, and directs that so long as this notification is in force, the rates of
such special allowance shall be adjusted by the competent authority, at the interval of every six months commencing from the 1st October and the 1st April on the basis of the
averagecost of Living Index Number for the preceding period for six months ending on the
30th June and 31st December, respectively in such manner that:-

Explanation for the purpose of this notification :

(1) (a)Zone-I shall comprise the area in the State of Gujarat within the limits of the Municipal Corporation as constituted under the Gujarat Provincial Municipal Corporation Act, 1949 and the areas within the limits of the Municipality as constituted under the Gujarat Municipalities Act,1963
and the areas falling within the jurisdiction of concerned Urban Development Authority.

(b) Zone-II shall comprise all the areas in the State of Gujarat other than those included in Zone-I.

(2) In case of an employee employed on piecerate basis, the minimum rate of wages shall be so fixed that the minimum rates of wages plus special allowance payable to him, for the number of hours of work which constituted normal working day, shall not be less than the daily wages fixed for the class of employees to which he belongs.

(3) The UniversityCampus, the Agricultural University Campus and the CantonmentArea shall pay the minimum rates of wages of the scheduled employment of the nearest Zone.

(4) An employee employed on part-time basis shall be paid 50% of the minimum rates of wages and special allowance, if the works up to four hours and if he works more than four hours, he shall be paid full minimum rates of wages plus special allowance.

(5) An employee employed by contractor or other agencies shall not be paid less than the wages plus special allowance payable to the category of the employees to which they belong.

(6) The perquisites or facilities given to an employee shall not be withdrawn and no deduction shall be made in respect of such perquisites or facilities given to an employee after fixation of minimum rates of wages plus special allowance.

(7) Male and female employees should be given equal wages for equal work.

(8) The minimum rates of wages payable to an apprentice employed on skilled or semiskilled work shall be 75 per cent. of the minimum rates of wages and special allowance fixed for the class of employees to which he belongs for the first three months. After three months he shall be paid in full.

(9) The amendment made for computation of cash value vide Government Notification ,Labour and Employment Department,No.KHR/217/2001/MWA/1097-833-M(2) dated 15th December,
2001 is applicable to employment in any residential hotel, restaurant or eating house as defined in the Gujarat Shops and Establishments Act, 1948.

Draft Notification Enclosed 

Friday, March 07, 2014

Principal employer liable if contractor fails to pay wages to workers Delhi High Court Judgement

Dear All,

Appended below is the DELHI HIGH COURT Judgment  in regards to

Principal employer is liable for payment of wages to the workmen as per section 21(4) of the Contract Labour (Regulation & Abolition) Act when the immediate employer i.e . contractor fails to discharge his obligation.

Even it is categorically stated in section 34 of the Industrial Disputes Act, 1947 that in the event of the contractor failing to pay wages, the principal employer should be liable to pay the wages to the workmen.

The Centre has approved payment of 8.75 per cent rate of interest on PF

Dear All

The Centre has approved payment of 8.75 per cent rate of interest on PF deposits in 2013-14 for over 5 crore subscribers of the Employees’ Provident Fund Organisation.

“The Finance Ministry has given its concurrence to the EPFO trustees’ decision to provide 8.75 per cent rate of interest to its members for the current fiscal,” an official said.

EPFO’s apex decision making body, the Central Board of Trustees (CBT) headed by Labour Minister had decided to raise interest rate for the current fiscal to 8.75 per cent from 8.5 per cent paid in 2012-13, in its meeting held on January 13, 2014.


The Centre has approved payment of 8.75 per cent rate of interest on PF

Wednesday, February 05, 2014

Friday, January 24, 2014

Pan Application procedure Changed from 3rd Feb 2014

Dear All 

The procedure for PAN allotment process will undergo a change w.e.f.03.02.2014. From this date onwards, every PAN applicant has to submit self attested copies of 

1. Proof of Identity (POI), 
2. Proof of Address (POA) and 
3. Date of Birth (DOB) documents  

For in  detail circular pls refer to the said attachment as appended below

Tuesday, January 14, 2014

EPFO raises interest rate to 8.75% for 2013-14 Announces 20% rise in cover under Employees' Deposit Linked Insurance Scheme

Dear All Friends

Retirement fund body Employees Provident FundOrganisation (EPFO) on Monday 
announced a rise in interest rate on provident fund (PF) deposits to 8.75 per 
cent for 2013-14, to benefit 50 million subscribers.

The interest rate on PF deposits in the previous financial year was 8.5 
per cent. The decision to raise the rate was taken by the Central Board of 
Trustees (CBT), the apex decision making body of the EPFO.   

"We have decided to recommend to the government an 8.75 per cent rate 
for 2013-14 to its subscribers," Labour Minister Oscar Fernandes, who 
chaired the CBT meet, said. The EPFO's recommendations would now 
be vetted by the finance ministry. Once the ministry gives its concurrence 
to the decision, the interest would be credited into the accounts of 

EPFO Central Provident Fund Commissioner K K Jalan said: "We have estimated
 an income of Rs 25,048.5 crore for 2013-14. EPFO would require Rs 25,005.4 
crore for providing an 8.75 pre cent rate of interest for this financial year
and leave a surplus of Rs 43 crore."

EPFO also announced a 20 per cent cover increase in Employees' 
Deposit Linked Insurance Scheme as an interim measure. Under this 
scheme, the family of a worker can get a maximum sum assured of 
Rs 1,30,000 in case of his/her demise during the service period. 
After the raise, the maximum amount would be Rs 1,56,000.   

The CBT has also approved increasing minimum administrative 
charges for managing EPF Scheme and EDLI Scheme to Rs 500 and Rs 200 
a month from Rs 5 and Rs 2, respectively. The charges for non-functional 
firms having no contributory members have also been increased to Rs 75
 and Rs 25 per month, respectively, for the two schemes.

EPFO has a corpus of Rs 5 lakh crore. When asked about its plans to improve
 investments, particularly Special Depositor Scheme (SDS) which earns an 
eight per cent rate of return, Jalan said: "We will definitely take out money 
from SDS and invest in high-yielding instruments. We will soon work on a 

On the labour minister's idea of deducing extra 10 per cent on basic wages
 by EPFO for providing housing to workers, the he said: "We will work on the
 proposal. He has a lot of experience." The CBT also initiated the process
 for selection of multiple fund managers and formed a panel to appoint a consultant 
for the purpose. CRISIL is providing consultancy services to the EPFO.

The trustees also asked the Finance, Investment and Audit Committee to look 
into the proposal that sought more freedom for the EPFO to trade and exit 
investments besides allowing it to refrain from investing in bonds of states.

The board also reviewed the performance of its four fund managers since August, 
2011. The State Bank of India remained on the top by earning a return of 9.23
 per cent on investments, followed by Reliance Capital Asset Management at 9.19
 per cent. HSBC AML and ICICI Sec PD earned 9.18 per cent each, above the
 benchmark rate of 9.11 per cent.

The EPFO also launched an electronic return facility for exempted establishments 
private PF trusts). It will benefit 3,000 exempted establishments which are now 
required to file their monthly and annual paper returns.   

These establishments which are otherwise managing the provident fund trust 
on their own will now get the facility of electronically reporting about their 
work. This electronic return will replace the earlier monthly and annual paper 
returns filed by exempted establishments.