EPF Due Date extended for the Contribution Period Mar-2020

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

Dear all


1. Considering the unprecedented situation created by COVID-19 and lockdown announced by the Central Government from 24.03.2020 midnight onwards to prevent the spread of COVID-19, the due date for filing of Electronic Challan cum Return (ECR) for wage month March 2020 is extended up to 15.05.2020 for employers who have paid wages to their employees for March 2020.

2. The due date for March 2020 is ordinarily 15.04.2020, so grace period of thirty days has been allowed to the establishments covered under EPF & MP Act, 1952 to remit the contributions and administrative charges due for March 2020

3. The above decision of Ministry of Labour, GOI, is to support and provide relief to Employers of establishments which have disbursed wages for March 2020 to its employees and an incentive to employers for the wage paid to employees during COVID-19 pandemic. The move is in keeping with the objective of the Pradhan Mantri Garib Kalyan Yojana to prevent disruption in employment and ensure earning to employees to help them fight the pandemic.

4. The employers have to declare the date of disbursement of the wage for March 2020 in the Electronic Challan cum returns (ECR) for March 2020.

5. The ECR, with the said declaration, and contributions and administrative charges for March 2020 are now due on or before 15.05.2020.

6. The employers disbursing the wages for March 2020 not only get relief of extension of due date for payment of EPF dues for March 2020 but also avoid liability of interest and penalty, if they remit on or before 15.05.2020.
  
(This benefit can be avail if u have paid Mar-2020 salary in time as while uploading the ECR we have to mention the Salary disbursement date if found any error i.e. while if any inspection comes up or any order issued by the Dept to produce some confirmation of salary disbursement if any error found then Interest & damages will be charged by the dept)

As the above is in my view in regards to damage & Interest hope as per the direction of Each state you all must have paid the salary to the employee in time 

Circular:- šŸ‘‰EPF Grace period March 2020 Payment

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Covid 19 Relief Exemption From Penalty For Delay In Payment Of Profession Tax And Filing Of Return In Madhya Pradesh

Posted by & filed under Profession Tax.

One more relief to the employer in this epidemic of COVID 19. Government of Madhya Pradesh vide notification no. F A 3-07/2020/1/V(22), exempts the private sector employers who are required to make payment of tax of Mar-2020 by 10th April 2020 and file the relevant return by 15th April 2020, from the penalty under section 13, if Mar-2020  tax is paid on or before 30th April 2020 and from the penalty under sub-section (3) of section 9 if the return of Mar-2020 can be filed before 5th May 2020. Please refer the Order for more details


CircularšŸ‘‰šŸ‘‰ Exemption From Penalty For Delay In Payment Of Profession Tax And Filing Of Return In Madhya Pradesh

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Circular on Date of Birth Proof Submission as per Aadhar in EPFO -Covid 19

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



In a move to extend the availability and reach of online services in the wake of the COVID-19 pandemic, EPFO has issued revised instructions to its field offices to facilitate PF members to rectify their date of birth in EPFO records, thus ensuring that their UAN is KYC compliant.

The date of birth recorded in ‘Aadhaar’  will now be accepted as valid proof of date of birth for the purpose of rectification, provided that the difference in the two dates is less than 3 years.

The PF subscribers can submit the correction requests online.

This will enable EPFO to validate the date of birth of members online with UIDAI instantaneously, thus authenticating and reducing the processing time of change requests.


 EPFO has instructed field offices to expedite disposal of online requests, enabling PF members in financial distress, to apply online for availing non-refundable advance from their PF accumulations to tide over the COVID-19 pandemic.

Circular:- šŸ‘‰šŸ‘‰Circular_on_date_of_Birth_Covid_19

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You can withdraw 75% of Employees Provident Fund in this pandemic Covid-19

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

 At a press conference on Thursday to unveil the ā€˜PM Garib Kalyan Packageā€™ to help the poor face the novel coronavirus crisis, Finance Minister Nirmala Sitharaman announced, 

ā€œEmployeesā€™ Provident Fund Regulations will be amended to include Pandemic as the reason to allow the non-refundable advance of 75 percent of the amount or three months of the wages, whichever is lower, from their accounts.ā€ This decision will likely benefit families of four crore workers registered under the EPF, she said.
Currently, subscribers of the Employeesā€™ Provident Fund Organisation (EPFO) can withdraw a non-refundable advance from their PF accounts under various terms and conditions, including for issues like illness, marriage, education, and purchase of a house, etc. Here, ā€œnon-refundableā€ means the subscriber doesnā€™t have to return the deposit after withdrawing the advance.
Further, in order to avail this benefit, the EPF subscriber can apply through Umang app  or by Member Portal 
Gazette Notification:- EPF Covid Gazzete Partial Withdrawal
Post Views: 568

Covid -19 India Relaxes Income Tax deadlines & penalties

Posted by & filed under Income Tax.

Following are the decisions with respect to statutory and regulatory compliance matters related to various sectors:

Income Tax

1.     Extend last date for income tax returns for (FY 18-19) from 31st March 2020  to  30th June 2020.
2.     Aadhaar-PAN linking date to be extended from 31st March 2020 to 30th June 2020.
3.     Vivad se Vishwas scheme ā€“ no additional 10% amount, if payment made by June 30, 2020.
4.      Due dates for issue  of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents and time limit for completion of proceedings by the authority and any compliance by the taxpayer including investment in saving instruments or investments for roll over benefit of capital gains under Income Tax Act,  Wealth Tax Act, Prohibition of Benami Property Transaction Act, Black Money Act,  STT law, CTT Law, Equalization Levy law, Vivad Se Vishwas law where the time limit is expiring between 20th March 2020  to 29th June 2020 shall be extended to 30th June 2020.  
5.     For delayed payments of advanced tax, self-assessment tax,  regular tax, TDS, TCS, equalization levy,  STT, CTT  made between 20th March 2020  and  30th June 2020, reduced interest rate at 9%   instead of 12 %/18 % per annum ( i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged  for this period.  No late fee/penalty shall be charged for delay relating to this period.
6.     Necessary legal circulars and legislative amendments for giving effect to the aforesaid relief shall be issued in due course.

GST/Indirect Tax

1.     Those having aggregate annual turnover less than Rs. 5 Crore Last date can file  GSTR-3B due in March, April and May 2020  by the last week of  June, 2020. No interest, late fee, and penalty to be charged.
2.     Others can file returns due in March, April and May 2020 by last week of June 2020  but the same would attract reduced rate of interest @9 % per annum from  15 days after due date (current interest rate is  18 % per annum). No late fee and penalty to be charged, if complied before till 30th June 2020.
3.     Date for opting for composition scheme is extended till the last week of   June, 2020.  Further, the last date for making payments for the quarter ending 31st March, 2020 and filing of  return for 2019-20 by the composition dealers  will be extended  till the last week of June, 2020. 
4.     Date for filing GST annual returns of FY 18-19, which is due on 31st March, 2020 is extended till the last week of  June 2020.
5.     Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring between 20th March 2020  to 29th June 2020 shall be extended to 30th June 2020. 
6.     Necessary legal circulars and legislative amendments to give effect  to the aforesaid GST relief shall follow with the approval of GST Council.
7.     Payment date under Sabka Vishwas Scheme shall be extended to30th June, 2020. No interest for this period shall be charged if paid by 30th June, 2020.

Customs

1.     24X7 Custom clearance till end of 30th June, 2020
2.     Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing applications, reports, any other documents etc., time limit for any compliance under the Customs Act and other allied Laws where the time limit is expiring between 20th March 2020  to 29th June 2020 shall be extended to 30th June 2020. 

Financial Services

1.     Relaxations for 3 months
o   Debit cardholders to withdraw cash for free from any other banksā€™ ATM for 3 months
o   Waiver of minimum balance fee
o   Reduced bank charges for digital trade transactions for all trade finance consumers

Corporate Affairs

1.     No additional fees shall be charged for late filing during a moratorium period from 01st April to 30th September 2020, in respect of any document, return, statement etc., required to be filed in the MCA-21 Registry, irrespective of its due date, which will not only reduce the compliance burden, including financial burden of companies/ LLPs at large, but also enable long-standing non-compliant companies/ LLPs to make a ā€˜fresh startā€™;
2.     The mandatory requirement of holding meetings of the Board of the companies within prescribed interval provided in the Companies Act (120 days), 2013, shall be extended by a period of 60 days till next two quarters i.e., till 30th September;
3.     Applicability of Companies (Auditorā€™s Report) Order, 2020 shall be made applicable from the financial year 2020-2021 instead of from 2019-2020 notified earlier. This will significantly ease the burden on companies & their auditors for the year 2019-20.
4.     As per Schedule 4 to the Companies Act, 2013, Independent Directors are required to hold at least one meeting without the attendance of Non-independent directors and members of management. For the year 2019-20, if the IDs of a company have not been able to hold even one meeting, the same shall not be viewed as a violation.
5.     Requirement to create a Deposit reserve of 20% of deposits maturing during the financial year 2020-21 before 30th April 2020 shall be allowed to be complied with till 30th June 2020.
6.     The requirement to invest 15% of debentures maturing during a particular year in specified instruments before 30th April 2020, maybe done so before 30th June 2020.
7.     Newly incorporated companies are required to file a declaration for Commencement of Business within 6 months of incorporation. An additional time of 6 more months shall be allowed.
8.     Non-compliance of minimum residency in India for a period of at least 182 days by at least one director of every company, under Section 149 of the Companies Act, shall not be treated as a violation.
9.     Due to the emerging financial distress faced by most companies on account of the large-scale economic distress caused by COVID 19, it has been decided to raise the threshold of default under section 4 of the IBC 2016 to Rs 1 crore (from the existing threshold of Rs 1 lakh). This will by and large prevent triggering of insolvency proceedings against MSMEs. If the current situation continues beyond 30th of April 2020, we may consider suspending section 7, 9 and 10 of the IBC 2016 for a period of 6 months so as to stop companies at large from being forced into insolvency proceedings in such force major causes of default.
10.Detailed notifications/circulars in this regard shall be issued by the Ministry of Corporate Affairs separately.

Department of Fisheries

1.     All Sanitary Permits (SIPs) for import of SPF Shrimp Broodstock and other Agriculture inputs expiring between 01.03.2020 to     15.04.2020 extended by 3 months
2.     Delay up to 1 month in the arrival of consignments to be condoned.
3.     Rebooking of quarantine cubicles for canceled consignments in Aquatic Quarantine Facility (AQF) Chennai without additional booking charges
4.     The verification of documents and grant of NOC for Quarantine would be relaxed from 7 days to 3 days

Department of Commerce

Extension of timelines for various compliance and procedures will be given. Detailed notifications will be issued by Ministry of Commerce.
Post Views: 582

Due date of ESIC payment changed for Feb 2020 & Mar-2020

Posted by & filed under Esic-Circulars.

Great Move by the ESIC Dept ESIC vide notification no p-11/14/Misc/1/2019-Rev has extended the ESI contribution for the month of February 2020 and March 2020 to 15th April 2020 and 15th May 2020 respectively on account of the pandemic in the form of coronavirus. Therefore time limit for payment of contribution has been extended to forty-five days instead of fifteen days for the month of February and March 2020 only


Post Views: 700

The Maharashtra Maternity Benefit (Amendments) Draft Rules, 2020-Proposed

Posted by & filed under Maternity Benefit Act.


Maha. Govt proposes an amendment in MB Rules regarding Creche facility to be within 500 meters from the entrance gate of the establishment 



The following draft of rules further to amend the Maharashtra Maternity Benefit Rules, 1965 which the Government of Maharashtra,  proposes to make in exercise of the powers conferred by Section 28 of the Maternity Benefit Act, 1961 (53 of 1961) and of all other powers enabling it in that behalf, is hereby published as required by subsection (1) of section 28 of the said Act, for the information of all persons likely to be affected thereby; and notice is hereby given that the said draft will be taken into consideration by the Government of Maharashtra after the expiry of sixty days from the date of publication of this notification in the Maharashtra Government Gazette.


 Any objections or suggestions, which may be received by the Commissioner of Labour, Maharashtra State, E-Block, C-20, Kamgar Bhavan, Bandra-Kurla Complex, Mumbai-400051 from any person with  respect to the said draft, before the expiry of the above mentioned period will be considered by the Government

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Post Views: 2,160