What is Voluntary Provident Fund? Voluntary Provident Fund (VPF) – Voluntary Retirement Fund is the voluntary fund contribution from the employee towards his provident fund account. This contribution is beyond the 12% of contribution by an employee towards his EPF. The maximum contribution is up to 100% of his Basic Salary + Dearness Allowance + Fixed Components*. (As […]
VPF (Voluntary Provident Fund) Read More »
The labour ministry has implemented retirement fund body EPFO’s decision to restore pension commutation under the Employees’ Pension Scheme, a move that will benefit 6.3 lakh pensioners. Pension commutation refers to part-withdrawal of fund in advance by a subscriber, who then gets reduced pension amount for 15 years. With the ministry’s latest decision, such pensioners would receive
Case Name : Royal Western India Turf Club Ltd. Vs E.S.I. Corporation & Ors. (Supreme Court of India) Appeal Number : Civil Appeal No. 49 of 2006 Date of Judgement/Order : 29/02/2016 Brief of the Case The Supreme Court held In the case of Royal Western India Turf Club Ltd. vs. E.S.I. Corporation & Ors. that
Casual workers covered in employee under ESI Act, 1948 – Supreme Court Read More »
The deadline for linking of PAN and Aadhar has been extended several times and the current deadline ends on 31 March, 2020 Till 27 January, 2020, over 30.75 crore PANs have already been linked to Aadhaar. NEW DELHI : Permanent Account Number (PAN) will become inoperative if it is not linked with Aadhaar by March 31,
The draft amendments have been notified in the gazette for stakeholder consultation and will be finalised in a month’s time. The Employees’ State Insurance Corporation, under the labour ministry, has proposed draft amendments to the Employees’ State Insurance (General) Regulations, 1950, paving way for appointment of a local committee with representatives of Center, state government, employers and employees in
ESIC proposes amendments to ensure better implementation of scheme Read More »
New Delhi: The Labour and Employment Ministry on Monday said procedures and policies are being streamlined to ensure speedy redressal of grievances related to EPFO, ESIC and other entities under it. In 2019, there were a total of 9,02,203 complaints on the EPFi Grievance Management System (EPFiGMS) and out of them, 8,38,579 complaints were disposed of,
Taking Steps for Speedy Redressal of EPFO and ESIC Related Grievances: Labour Minister Read More »
The Budget 2020 has made the tax structure more complicated by adding three tax slabs. The removal of tax exemptions and deductions certainly makes compliance less tedious, but avid tax planners who maximised their tax deductions will probably pay more tax under the new tax regime. The budget has tried to put more money in
Six income tax slabs in, 70 exemptions out: Impact on taxpayers Read More »
Employees‘ contribution to EPF and ESIC deposited beyond the due date prescribed under section 36(1)(va) would not be eligible for deduction even if deposited before the due date of filing the return of income tax under section 139(1): Madras High Court short overview: Employees’ contribution to EPF and ESIC deposited beyond the due date prescribed under section 36(1)(va) would not be eligible for deduction even if deposited before the due date of filing the return of income tax under section 139(1). Therefore appeal of Revenue was allowed. Issue arose under consideration as to
