EPF Admin Charges Reduce from 0.85% to 0.65 % from 1st Apr 2017

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

Good News from EPFO the administrative charges payable by the employer for the purposes of paragraph 30 and sub-paragraph (1) of paragraph 38 of the said Scheme with effect from 1st April, 2017 at 0.65 per cent (zero point six five per cent.) of the pay as referred to in the said paragraphs subject to a minimum sum of seventy-five rupees per month for every non-functional
establishment having no contributory member and five hundred rupees per month per establishment for other establishments.

Further the Central Government hereby determines that no sum shall be payable for the time being by the employer in relation to his employees as the further sum payable by the employer every month to the Deposit-Linked Insurance Fund for the meeting the expenses in connection with the administration of the Employees Deposit-Linked Insurance Scheme, 1976 other than the expenses towards the cost of any benefits provided by or under that scheme. i.e A/C 22 will be  Zero


Necessary Notification :-👉👉No PF Admin Charges No PF EDLI 1st Apr 2017
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Latest Rules On Provident Fund Withdrawal You Should Know: 10 Facts

Posted by & filed under Provident Fund Benefits.

According to provident fund norms, 12 per cent of an employee’s salary goes into the fund along with a matching contribution from the employer.

The Employees’ Provident Fund Organisation (EPFO) has been taking many steps to ease the process of provident fund (PF) money withdrawal. The PF money can be withdrawn after two months from the cessation of employment. The application form can be filed with the PF authorities or through the employer. PF is meant for saving towards retirement years. Financial planners advise not to withdraw from the corpus before retirement. According to provident fund norms, 12 per cent of an employee’s salary goes into the fund along with a matching contribution from the employer. The Employees’ Provident Fund Organisation every year announces interest rate to be paid on the accumulated provident fund corpus.

Here are 10 things to know:

1) To encourage long-term savings, the government has formulated tax laws accordingly. If the withdrawal from a recognised PF happens after five years of continuous employment, it attracts no tax liability. In case of employment with different employers, if the PF balance maintained with the old employer is transferred to the PF account of the new employer, it is considered a continuous employment.

2) If an employee has been terminated because of certain reasons beyond his or her control (such as ill health and discontinuation of business of employer), the withdrawal does not attract any tax, irrespective of the number of years of employment.

3) In case of a withdrawal before five years, the amount becomes taxable in the same financial year. Thus, the amount has to be shown in your tax return for the next assessment year. The employer’s contribution to PF and interest earned on it is added to one’s income and taxed accordingly.

4) In addition, if you have claimed benefits under Section 80C on your own PF contribution, it will be taxed as salary. The interest earned on your own contribution will be taxed as ‘income from other sources’ and taxed according to the respective tax slabs.

5) TDS (tax deducted at source) – If the withdrawal is after a period of five years of continuous employment, it attracts no TDS or any tax. What happens if the period of service is less than five years? If PAN has not been submitted to the EPFO authorities, TDS is deducted at 30 per cent. If PAN has been submitted along with Form 15G/15H, no TDS is deducted. If form 15G/15H is not submitted and PAN is submitted, TDS @ 10% is deducted. Form 15H or 15G is meant to prevent TDS for those whose income falls below the taxable limit.

6) The funds transferred from a recognised provident fund (PF) account to a National Pension System (NPS) account will not attract any tax, Pension Fund Regulatory and Development Authority (PFRDA) said in a circular dated March 6. “The amount so transferred from recognised Provident Fund/Superannuation Fund to NPS is not treated as income of the current year and hence not taxable,” the pension fund regulator said.

7) The Employees’ Provident Fund Organisation has come out with a single-page form for provident fund related claims – from provident/pension fund withdrawal to the advance facility.

8) In addition, an Employees’ Provident Fund Organisation or EPFO subscribers can submit the new one-page form directly to the retirement fund body without the employer’s attestation if their accounts are seeded with Aadhaar and bank account details.

9) For subscribers who are yet to seed Aadhaar and bank details, a new composite claim form has been introduced which has to be submitted with attestation of employers for any claims.

10) Also, no other document would be required to be submitted by the subscriber for taking advances from the provident fund corpus. A provident fund subscriber can go for partial withdrawal/advance from his or her corpus for specific purposes like purchase of flat, construction.

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Maternity Benefit (Amendment) Bill, 2016 passed in the Parliament

Posted by & filed under Uncategorized.

The Lok Sabha has passed the Maternity Benefit (Amendment) Bill, 2016 today. The Bill had already been passed by the Rajya Sabha during the Winter Session. With this, the Bill stands passed in the Parliament. 


The Bill seeks to amend the Maternity Benefit Act, 1961 to provide for the following:- 
  • (i) Maternity leave available to the working women to be increased from 12 weeks to 26 weeks for the first two children. 
  • (ii) Maternity leave for children beyond the first two will continue to be 12 weeks. 
  • (iii) Maternity leave of 12 weeks to be available to mothers adopting a child below the age of three months as well as to the “commissioning mothers”. The commissioning mother has been defined as biological mother who uses her egg to create an embryo planted in any other woman. 
  • (iv) Every establishment with more than 50 employees to provide for crèche facilities for working mothers and such mothers will be permitted to make four visits during working hours to look after and feed the child in the crèche. 
  • (v) The employer may permit a woman to work from home if it is possible to do so. 
  • (vi) Every establishment will be required to make these benefits available to the women from the time of her appointment. 
The Minister of Women and Child Development, Smt. Maneka Gandhi thanked the Minister for Labour and Employment, Shri Bandaru Dattatreya for taking up the demand of lakhs of women across the country and for having steered the Bill through Rajya Sabha as well as the Lok Sabha. In her message to the working women, Smt. Gandhi congratulated the women who are planning to have a child and has stated that the Ministry of Women and Child Development will continue to work for the empowerment of women. 


The amendments in the Bill were taken up following the request by the WCD Minister to the Hon’ble Labour Minister to bring about these changes so that a working woman gets time to exclusively breast-feed her child for 6 months after the birth. This period also enables the working mother to recuperate herself before she goes to back to work. In her communication to the Labour Ministry, the WCD Minister had also highlighted the concerns of commissioning and adopting mothers who also require maternity leave.

Gazzeted Copy Awaited

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Delhi Revised Minimum Wages effective 4th Mar 2017

Posted by & filed under Minimum Wages-Delhi.

Delhi Minimum Wages have been revised W.E.F 4th Mar 2017 necessary Gazetted Notification is enclosed 

 REVISED MINIMUM WAGES 
Category of Workmen/ Employees
Per Month (Rs.)
Per Day (Rs.)
Unskilled
13,350.00
513.00
Semi- Skilled
14,698.00
565.00
Skilled
16,182.00
622.00
Clerical and Supervisory Staff
Non Matriculate
14,698.00
565.00
Matriculate but not Graduate
16,182.00
622.00
Graduate and above
17,604.00
677.00

              👇
   Delhi Minimum Wages Notification Basic 4th March 2017

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Introduction of Revised New Pension claim Form No 10-D

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

Central Government issued Gazette Notification No. S.O. 26(E) dated 04.01.2017 vide which it was notified that members and pensioners of the Employees’ Pension Scheme desirous of continuing to avail pension and membership to the Employees’ pension Scheme by availing the Central Government’s contribution and subsidy under the said Scheme, are required to furnish proof of the possession of the Aadhaar number or undergo Aadhaar authentication for better and hassle free identification through Aadhaar.

Accordingly, the simplified UAN based pension claim Form 10-D has been revised as Pension claim Form (Aadhaar) (copy enclosed)


i)  The AADHAAR Number and the Bank A/c number of the employee are seeded      as and digitally verified by the employer.
(ii) All the details of the employee are available in Form No. I I (New).
(iii) A cancelled cheque containing the name of the employee, Bank ale number and IFS code is attached with the Claim Form.

All employees applying for pension may, after satisfying above conditions, submit Pension Claim Form (Aadhaar) directly to the respective jurisdictional Employees’ Provident Fund Office. The attestation of employers on such Pension Claim Form (Aadhaar) is not required
Post Views: 428

Haryana Minimum Wages 1st Jan 2017

Posted by & filed under Minimum Wages-Haryana.

Haryana Minimum wages have been revised effective from 1stg Jan 2017

S.NO.
Category
Monthly Wage
Daily Wage
1
UNSKILLED
8280.20
318.46
2
SEMI-SKILLED-A
8694.20
334.39
SEMI-SKILLED-B
9128.91
351.11
3
SKILLED-A
9585.35
368.66
SKILLED-B
10064.62
387.10
4
HIGHLY SKILLED
10567.85
406.45
5
Clerical & General Staff
(i) Below Matriculation
8694.20
334.39
(ii) Matriculation but not Graduate
9128.91
351.11
(iii) Graduate or above
9585.35
368.66
(iv) Steno Typist
9128.91
351.11
(v) Junior Scale Stenographer
9585.35
368.66
(vi) Senior Scale Stenographer
10064.62
387.10
(vii) Personal Assistant
10567.85
406.45
(viii) Private Secretary
11096.25
426.77
6
Data Entry Operator
9585.35
368.66
7
Driver
Light Vehicle
10064.62
387.10
Heavy Vehicle
10567.85
406.45
8
Security Guard
without weapon
8694.20
334.39
with weapon
10064.62
387.10
9
Security Inspector / Security Officer / Security Supervisor
10567.85
406.45
10
Safai Karamchari in any employment
8824.95
339.42


 The Associations of Employers have challenged the earlier notification prohibiting splitting of minimum wages into allowances and the writ petitions are pending for disposal with the Punjab & Haryana High Court.  However, no stay has been granted.  

Hindi Version Notification Haryana 01-01-2017 đŸ‘ˆ

Post Views: 565