Dear All,
ESI Benefit is extended to Padappai Area (Tamil Nadu, Chennai), please find the Notification
The EPF organisation has approved the Group Team Insurance Plan offered by M/s star Union Dai-ichi Life Insurance Company Limited in lieu of the Employees’ Deposit Linked Insurance Scheme, 1976
Dear All,
Annexure I
The EPF organisation has approved the Group Team Insurance Plan offered by M/s star Union Dai-ichi Life Insurance Company Limited in lieu of the Employees’ Deposit Linked Insurance Scheme, 1976 – HO No. C-III/16/1(138)10/ MH/ EDLI/ 30284 dated 23/01/2013
The highlights of the Said Insurance Company is as Under:-
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The policy is arranged to provide Assurance benefits to the employees with a minimum of Rs. 1,32,000/- as the product m’ imum is Rs. 1,32,000/-.
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All the members of the Employees’ Provident Funds Scheme,1952 in the establishment will be eligible to be members of the policy. The member becomes eligible for the coverage as soon as he/she becomes the member of the Employees‘ Provident Funds Scheme,1952.
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The employer(policy holder) will give an undertaking to the effect that all new members have been included from the date of their joining. If a death claim is received in respect of a member whose premium and/or name is not submitted to M/s Dai-ichi Life Insurance Company Limited, the employer undertakes to provide the benefits for the same.
The primary documents normally required for processing a claim by death are:
(i) Claimant’s statement! Claim Form
(ii) Death Certificate issued by the appropriate authority as per prevailing lawlrule.
(lli) Leave Records [from date of joining this scheme]
(iv) Police Panchnama, Police Inquest Report and FIR copy where applicable
(v) Post Mortem Report in case of accidental
The respective circular to the above effect is enclosed for your ready reference.
Goa Minimum Wages W.E.F Oct-2012
Dear All,
Minimum wages for all industries and for all position also for workers in Goa W.E.F 1st Oct-2012
M.W Oct-2012(Goa-Minimum Wages -Oct-2012)
Minimum wages for all industries and for all position also for workers in Goa W.E.F 1st Oct-2012
M.W Oct-2012(Goa-Minimum Wages -Oct-2012)
Tamil Nadu Minimum Wages 2012-2013
Dear All,
Please be informed that Minimum Wages consist of Basic + DA in Tamil Nadu.
DA-2012-2013(MW_TN_DA_April 2012_March 2013)
Minimum Wages(MW_TN_BASIC_2005)
Please be informed that Minimum Wages consist of Basic + DA in Tamil Nadu.
Find attached the notifications related to BASIC published in 2005 & DA for the year 2012-13.
Note that after 2005, there is no changes in BASIC Wages, hence, you need to add the Basic wages of 2005 & the current DA to arrive the total Minimum Wages.
If you need any further clarifications, please write to us.
DA-2012-2013(MW_TN_DA_April 2012_March 2013)
Minimum Wages(MW_TN_BASIC_2005)
Madhya Pradesh Minimum wages& VDA for 2012-2013
Dear All,
Enclosed pls find the attachment in respect of Madhya Pradesh Minimum wages for the year 2012-2013
ANNUAL RETURN-BONUS PAID TO EMPLOYEES FOR THE ACCOUNTING YEAR
Dear All,
ANNUAL RETURN-BONUS PAID TO EMPLOYEES FOR THE ACCOUNTING YEAR ENDING
Form-D-ANNUAL RETURN-BONUS PAID TO EMPLOYEES FOR THE ACCOUNTING YEAR.
ANNUAL RETURN-BONUS PAID TO EMPLOYEES FOR THE ACCOUNTING YEAR ENDING
Form-D-ANNUAL RETURN-BONUS PAID TO EMPLOYEES FOR THE ACCOUNTING YEAR.
Calculation of HRA Exemption
Calculation of HRA Exemption
Employees generally receive a house rent allowance (HRA) from their employers. HRA is an allowance and is subject to income tax. An employee can claim exemption on his HRA under the Income Tax Act if he stays in a rented house and is in receipt of HRA from his/her employer.
In order to claim the deduction, an employee must actually pay rent for the house which he occupies. The rented premises must not be owned by him. In case one stays in an own house, nothing is deductible and the entire amount of HRA received is subject to tax. As long as the rented house is not owned by the assessee, the exemption of HRA will be available up to the the minimum of the following three options:
* The actual amount of HRA received
* 40% of salary. This increases to 50% if you are renting out the house in major metros in India
* Rent paid minus 10% of salary (basic component + dearness allowance)
Salary here means basic salary which includes dearness allowance if the terms of employment provide for it, and commission based on a fixed percentage of turnover achieved by the employee.
The deduction will be available only for the period during which the rented house is occupied by the employee and not for any period after that.
Example for Calculation of HRA Exemption
HRA per month = Rs 15,000
Basic monthly salary = Rs 30,000
Dearness Allowance = Nil
Monthly rent = Rs 12,000
Rental accommodation is in Mumbai.
Exemption
Actual amount of HRA = Rs 15,000
50% of salary = 50% x (30,000 + 0) = Rs 15,000
Actual rent paid – 10% of salary = Rs 12,000 – [10% of (30,000 + 0)] = 12,000 – 3,000 = Rs 9,000
Rs 9,000 being the least of the three amounts will be the exemption from HRA. The balance
HRA of Rs 6,000 (15,000-Rs 9,000) is taxable.
Courtesy:-http://www.sensystechnologies.com/blog
ESIC Funeral Expense Form
Dear All,
Enclsoed is the ESIC Funeral Expense Form the respetive limit has been increase from Rs 5000 to Rs 10000.The Respective circular of the same is enclosed. The said Enhacment is from 1st Apr 2011
Form-22 Funeral Expenses Claim Funeral Expenses Notification
Enclsoed is the ESIC Funeral Expense Form the respetive limit has been increase from Rs 5000 to Rs 10000.The Respective circular of the same is enclosed. The said Enhacment is from 1st Apr 2011
Form-22 Funeral Expenses Claim Funeral Expenses Notification
Pan India Profession Tax Slab
Dear All,
Pls Find attached is the Pan India PT Slab
Attachment:- {PanIndia PT Slab Rates}
Pls Find attached is the Pan India PT Slab
Attachment:- {PanIndia PT Slab Rates}
This information has been obtained from the various resources on the internet, hence may have changed.
If any Changes of the slab in any of the state pls infom us to update the same
Thx
Regards,
Prakash
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Fresh Circular on EPF to link with Adhar
Dear All,
In continutation to the earlier circular issued in respect of EPF to link with Adhar , EPF central office New Delhi has issued a fresh circluar in conntection to the captioned subject Pls click the respective attachment as listed below.
Fresh Circular on EPF to Link with Adhar
In continutation to the earlier circular issued in respect of EPF to link with Adhar , EPF central office New Delhi has issued a fresh circluar in conntection to the captioned subject Pls click the respective attachment as listed below.
Fresh Circular on EPF to Link with Adhar