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 the temporary card will be E-pechan card but the Aadhaar number will show as unverified.
In this regard the E-pechan card is valid for 30 days either Aadhaar cards is verified or unverified he can avail benefits in all ESIC dispensary/Hospitals/& branch offices. 

Aadhaar is an alternate pechan for identification of IP and his family the respective verification of Aadhaar card will be do by the ESIC dept through UIDAI

Special Instruction have been given to all ESIC panel doctors/Dispensary/hospitals & branch office that there should be no denial of benefits in regards to the above.
Circular for your reference :-ESIC Circular on AAdhaar-Special Instruction

Post Views: 581

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 by the apex decision-making body Central Board of Trustees (CBT) of EPFO. The decision was to increase the benefits from 3.6 lakh rupees to 6 lakh rupees under the Employees’ Deposit Linked Insurance (EDLI). But the decision was not enforced by the Labour Ministry of India, as the decision was stuck with the Indian Lay Ministry for getting an approval.
Necessary Gazetted copy click below
Post Views: 484

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) Department
have issued orders on Andhra Pradesh retail trade policy 2015-20, focusing
simplification 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 the Said Exemption :-
=============================

  • Working hours of the employees shall be a maximum of 8 hours per day and not more than 48 hours in a week. Manpower deployment details shall be added to the application for registration by the employer, which is now online under the Integrated Registration Act, 2015


  • Record of overtime shall be maintained in wages register separately in respect of the employees who worked beyond normal working hours and wages for overtime shall be paid to all eligible employees at twice the ordinary rate of wages.


  • The employees working on a national, festival or other holiday shall be given a compensatory holiday with wages at twice the ordinary rate of wages for work on a holiday. Compensatory holiday to such employees shall be given within thirty days from the date of holiday.

  • Employment of women shall be permitted in all shifts, subject to the enterprises ensuring safe and secure working environment and secure conveyance from workplace to place of residence. The employer shall be solely responsible for ensuring the above till women employees reach respective place of residence.
  • Retail enterprises are allowed to offer part-time employment subject to the working hours for part time employees being expressly specified. Minimum per hour wage rate shall be proportionately determined in accordance with minimum monthly wage rate specified under Minimum Wages Act. Retail unit cannot engage more than 25% of its employees as part time employees. This would be subject to the enterprises strictly adhering to laws regarding child labour and other similar applicable laws.
Pls click the below link for the above said Notification


Post Views: 458

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 01.04.2016.

Detail circular is enclosed below pls click the link below

Daman Minimum wages 2016
Post Views: 447

Amendment in TDS Rates & Threshold limit wef 01.06.2016

Posted by & filed under Income Tax 2016.

Under the scheme of deduction of tax at source as provided in the Act, every person responsible for payment of any specified sum to any person is required to deduct tax at source at the prescribed rate and deposit it with the Central Government within specified time. However, no deduction is required to be made if the payments do not exceed prescribed threshold limit.

In order to rationalise the rates and base for TDS provisions, the existing threshold limit for deduction of tax at source and the rates of deduction of tax at source are proposed to be revised as mentioned in table 3 and table 4 respectively.

Table 3: Increase in threshold limit of deduction of tax at source on various payments mentioned in the relevant sections of the Act –  

Section 192A is referred by the EPF dept while calculating the tax at the time of EPF withdrawal in regards to such employee who have not having Pan card & not submitted form No 15-G  also there are some state where in minimum wages are low & the contribution is deducted & the amount of  is less then 50000 where in service is less then 2 years or three years  it is good news for EPF subscriber 

Present Section Heads Existing Threshold
Limit (Rs.)		 Proposed Threshold Limit
(Rs.)
192A Payment of accumulated balance due to an employee 30,000 50,000
194BB Winnings from Horse Race 5,000 10,000
194C Payments to Contractors Aggregate annual limit of 75,000 Aggregate annual limit of 1,00,000
194LA Payment of Compensation on acquisition of certain Immovable Property 2,00,000 2,50,000
194D Insurance commission 20,000 15,000
194G Commission on sale of lottery tickets 1,000 15,000
194H Commission or brokerage 5,000 15,000
Table-4 : Revision in rates of deduction of tax at source on various payments mentioned in the relevant sections of the Act:
Present Section Heads Existing Rate
of TDS (%)		 Proposed Rate of
TDS (%)
194DA Payment in respect of Life Insurance Policy 2% 1%
194EE Payments in respect of NSS Deposits 20% 10%
194D Insurance commission Rate in force (10%) 5%
194G Commission on sale of lottery tickets 10% 5%
194H Commission or brokerage 10% 5%
The following provisions which are not in operation are proposed to be omitted as detailed in Table 5.
Table 5: Certain non-operational provisions to be omitted
Present Section Heads Proposal
194K Income in respect of Units To be omitted w.e.f 01 .06.2016
194L Payment of Compensation on acquisition of Capital Asset To be omitted w.e.f 01 .06.2016
These amendments will take effect from 1st June, 2016.

@courtesy http://taxguru.in/income-tax/

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Post Views: 487

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 multiple accounts, Employees’ Provident Fund Organisation (EPFO) has launched a special drive called “One Employee-One EPF Account”




http://oeoea.epfoservices.com/UANDEDUP/


Here re is a 10-point Step :

  1. EPFO has set up a special portal for the “One Employee-One EPF Account” drive. Under this drive EPFO will actively help those who want to transfer the balance from their past PF accounts to current PF account which is linked to universal account number (UAN).  
  2. You need to enter your activated UAN along with your current UAN-linked PF number and mobile number registered with the EPFO.
  3. Both your UAN and PF number is mentioned on your salary slip. If your UAN is already activated, you will be directed to the next page after you enter One-Time-Password (OTP) that you will receive on filling up the details
  4. Then you will be asked to enter the details of your past PF numbers that you want to be transferred to your current PF account. Up to 10 past PF numbers can be added under this facility.
  5. The numbers provided by you are sent to EPFO offices in which your past PF money was deposited. The offices will in turn get in touch with the employers. After the employer verifies the PF claim, the transfer will be done.
  6. The EPFO regional office will get in touch with you in case you face any problem after filing PF balance transfer request. 
  7. Although the facility to transfer PF balance online existed earlier, it could be used if the details of the previous PF accounts are available in the EPFO database and the employers have digital signatures.
  8. The retirement fund body has been advising subscribers to link all their PF account numbers with the Universal Account Number (UAN). With the enactment of the Aadhaar Act, 2016, EPFO is seeking to make Aadhaar the primary identifier for consolidating PF accounts.
  9. The UAN was launched in October 2014 to enable members have continuity in their PF membership on change in jobs. The UAN remains portable throughout the lifetime of an employee. All active subscribers have been allotted a UAN which needs to be linked to AAdhar, PAN and bank account.
  10. Employee contributes 12 per cent of basic salary to PF. The employer too has to contribute the same amount towards Employees’ Provident Fund as its share.

 @Courtesy http://profit.ndtv.com/

Post Views: 555

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 employment is continued. Earlier the contribution was stopped at the age of 58 years.

b) Option to defer the age of drawing pension
An eligible member may also opt to defer the date of drawing the pension benefit beyond 58 years but not beyond 60 years of age. In such case, the amount of pension will be increased at the rate of 4 per cent for every completed year after the age of 58 years but not beyond 60 years of age.

c) Entitlement of pension in the event of death of a member

In the event of the death of a member, who opted for deferring the age of drawing the pension, the family of the member would be entitled to pension from the date following the date of death of the member as if the member monthly pension had started on the date of death of the member..

New changes in the EPS can help members draw higher pensions by way of deferment of pension and/or by contributing to the EPS till the age of 60 years. This move by the government can help improve the pension adequacy for EPS members. This is a voluntary provision that can be availed by EPS members at their own option. Further guidelines are expected from Employees’ Provident
Fund Organisation to implement the new changes in EPS.

Pls click below for necessary notification



@courtesy KPMG
Post Views: 405