Good NewsPF has comeout with Notification , accordingly, special survey drive will be initiated from 1st Jan 2017 by department for coverage of the Establishment.The Establishment which is legally liable for coverage will be covered under the Act.Benefits are as below;1. Only Employer Share will be levied. 2. Interest as applicable on Employer’s Share.3. Damages @… Read more »
Monthly Archives: December 2016
ESIC Limit increase from Rs 15000 to Rs 21000 W.E.F from 1st Jan 2017
ESIC limit has been increased from 1st Jan 2017 from Rs 15000 to Rs 21000 Draft rules were published on 6th October 2016 and whereas, objections and suggestions received from persons likely to be affected thereby have been considered by the Central Government Now, therefore, in exercise of the powers conferred by section 95 of the said Act,… Read more »
Government Clarification on Amendment to Payment of Wages Act
It is seen from the media reports that there is a general impression that is being created that the Government is bringing an amendment to the Payment of Wages Act to make mandatory the payment of wages to the workers only through cheque or accounts transfers. This is not the correct position. It is clarified… Read more »
EPFO fixes 8.65% interest rate for PF deposits, cut from 8.8%
Retirement fund body EPFO today decided to lower the interest on EPF deposits for the current fiscal to 8.65 per cent, from 8.8 provided in 2015-16, for its over four crore subscribers. “The Employees Provident Fund Organisation’s apex decision making body, the Central Board of Trustees (CBT), has taken a decision to lower the interest rate… Read more »
Minimum Wages Daman from 1st Oct 2016
New Minimum Wages of Daman is appended below which is declared on 2nd Dec 2016 the effective date of the same is 1st Oct 2016 MINIMUM WAGES 01 10 TO 31 03 20170001-Daman
Amendments to the Payment of Wages Act, 1936
One of the reasons for ineffective enforcement of payments of wages to workers is the payment of wages in cash. With the passage of time, technology has gone a sea change. A large section of the employed persons have now bank accounts. So, payment of wages only through cheque or through bank transfer in the… Read more »