Posts By: Prakash Consultancy Services

Amendment in Employees Pension Scheme 1995

Posted by & filed under Provident Fund Benefits.

Dear all,There is an  Amendment in Employees Pension Scheme 1995 where in the Provision of Orphan Pension which was earlier up to age 25 years has been increase  beyond age of 25 years in case if such Orphan is suffering from disorder of mind or is Physically crippled or disable Notification:- Pension_GazetteNotification_GSR387(E)_8314

Special Instruction on Implementation of Aadhaar based authentication

Posted by & filed under Esic-Circulars.

Dear all, With reference to the above captioned subject and refer to my earlier blog in regards to Implementation of Aadhaar based authentication  for ESIC Benefits where in various circular were issued vide dated 15/01/2016,16/03/2016,22/03/2016 & 12/04/2016 where in i would like to draw your attention that once the Aadhaar number is updated in the insured person card… Read more »

Employee Deposit Link Insurance Scheme Amendment 2016

Posted by & filed under Provident Fund Benefits.

The Government of India has finally implemented the decision of increasing the maximum sum limit assured under insurance scheme of retirement fund body Employee Provident Fund Organisation, popularly termed as EPFO, to 6 lakh rupees. This would almost double the maximum sum for its 4 crore subscribers. The decision was, however, taken long back in September… Read more »

Grant of exemption to all retail enterprises from sections 7 ,9, 12, 23, 31 and 37 of the Act to keep open every day of the year for a period of Five(5) years

Posted by & filed under Andhra-Shop & Establishment.

In the G.O 1ST read above , the Industries and Commerce (P&I) Departmenthave issued orders on Andhra Pradesh retail trade policy 2015-20, focusingsimplification of labour laws & processes, skill development support and single desk clearances, so as to stimulate growth in the Retail Sector for a period of 5 years from the date of notification. Synopsis of… Read more »

Daman Minimum Wages 2016

Posted by & filed under Minimum wages-Daman.

In addition to the Basic Pay fixed by the Administration of Daman & Diu in respect of all the scheduled employments under the Minimum Wages Act, 1948 vide notification No.LE/LI/DMN/MWA-3(II)/2015-16/81 dated 29.05.2015, the daily rate of Variable Dearness Allowance (VDA) payable on the cost of living index number is increased at the rate of L 9.50/- with effect from… Read more »

New PF Facility Launched For Easy Balance Transfer: Your 10-Point Guide

Posted by & filed under Provident Fund Benefits.

Many employees forget to transfer the balance from their previous provident fund (PF) accounts when they change jobs. Some of them even withdraw the money from PF account. Since PF is meant for one’s retirement years, financial experts suggest that the accumulated savings should not be withdrawn during one’s working years. To encourage employees consolidate… Read more »

The Government of India amends Employees’ Pension Scheme allowing members to contribute till 60 years of age

Posted by & filed under Provident Fund - (Notification -Circulars).

Key amendments in the notification Under the EPS, a new provision under sub-paragraph (7B) of paragraph 12 has been inserted enabling the following benefits: a) Contributions allowed after the age of 58 years but not beyond 60 years  A member may opt to continue contributions under EPS till the age of 60 years if the… Read more »