To help tide over hardship caused by the coronavirus lockdown, Employees’ Provident Fund (EPF) rules will be relaxed, finance minister Nirmala Sitharaman announced today. EPF subscribers can now withdraw 75% of their PF balance or 3 month wages as a non-refundable advance, whichever is lower. This will benefit about benefit 4.8 crore employees. Experts have […]
EPF rules changed for getting non-refundable advance Read More »
NEW DELHI: Around 12.06 lakh new members joined ESIC-run social security schemes in January 2020 against 12.90 lakh in the previous month, according to the payroll data of the Employees’ State Insurance Corporation (ESIC), providing an employment perspective in the formal sector. Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire 2018-19 financial year, the National Statistical
12.06 lakh new members join in January: ESIC payroll data Read More »
MUMBAI: As corporates frantically dial banks seeking help to tide over the Covid-19 crisis, public sector banks have stepped up with emergency funds to aid companies, both small and large, to continue operations, especially pay salaries, said two people aware of the development. At least two state-owned banks, State Bank of India (SBI) and Union
Covid – 19 lockdown: Corporates seek loans to pay salaries, PSU banks step up Read More »
The Finance Minister, Nirmala Sitharaman, announced that the deadline to link PAN with Aadhaar has been extended to June 30, 2020. The earlier deadline was March 31, 2020. For those who are yet to link their PAN with Aadhaar, this extension will come as a relief as not linking the two will lead to the PAN becoming
PAN-Aadhaar linking deadline extended to June 30, 2020 Read More »
The Finance bill has been passed by the Lok Sabha, with various key amendments impacting individual taxation, which include relaxation in deemed residency provision, modification to the various TDS sections, etc. The amendment to the residency provision provides that a non-resident who is a Indian citizen or person of Indian origin occasionally visiting India shall
Finance Bill 2020 changes rules on TDS, NRIs and dividends Read More »
NEW DELHI: The labour ministry has asked states and central ministries concerned to ensure that employers do not fire their employees, particularly casual or contractual workers, or reduce their wages amid Covid-19 outbreak as it would deepen the crisis. The ministry has also asked the state and ministries that all employees going on leave during the
Retirement fund body EPFO on Monday said it has issued directions for timely credit of monthly pension to over 65 lakh employees’ pension scheme (EPS) beneficiaries amid the coronavirus outbreak. The Employees’ Provident Fund Organisation (EPFO) disburses monthly pension to over 65 lakh pensioners every month under the EPS. “Due to the coronavirus pandemic, lockdown
EPFO directs field offices to timely credit pension to 65 lakh EPS beneficiaries Read More »
· Employee Provident Fund: Proposed Interest Rate reduced to 8.50% from 8.65% for FY 2019-20. · Employee Provident Fund: Employees can update their Date of Exit on their own. · Employee Pension (Amendment) Scheme, 2020: As per the notification, employees can restore full pension after 15 years of retirement for pensioners under EPF Scheme who
Labour Law Updates – March-2020 Read More »
Union Health Minister Dr. Harsh Vardhan introduced Medical Termination of Pregnancy (Amendment) Bill, 2020 which was passed by the Lok Sabha on Tuesday to increase Upper limit for Legal Abortions as a welfare for the women. This bill amends the Section 3 of the Medical Termination of Pregnancy Act, 1971,to increase the limit for medical
