Dear All,
Pls find enclosed is the revision of Minimum wages of Uttarpradesh W.E.F from 1st Oct 2014 till 31st Mar 2015
Revised Uttarpradesh Minimum wages 1st Oct 2014 till 31st Mar 2015
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 :-
ORDER
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.
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.
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.
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.
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
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)
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
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
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
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