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With increased globalisation, India is a much sought after destination, not only for foreign investment but for International Students seeking Internships in Indian NGO's. Many of the Indian NGO's are doing yeoman social services and attracting global attention, including students from the developed countries in US and Europe, seeking an immersive experience here.

Whether we like it or not, students get rated in their academics through a GPA score, products get rated on energy efficiency, business for credit worthiness, etc. GST compliance rating is indeed a novel idea, even before GST is implemented in India. 

Provident Fund has been long considered as a long term savings option for good rate of return ( 2016-17 rate of 8.65%)and tax exempt nature. The drawback was red tape in case of withdrawals, transfers, settlement on retirement etc. It is a cumbersome  exercise of authentication, certification , attestation of documents for claiming employee’s  money back from PF.

Employees Provident Fund Organization has extended PF Amnesty Scheme till June 30, 2017. This was earlier operational up to March 31, 2017. All other terms and conditions remain the same.

Reduction in Administrative costs
EDLI Administrative cost - Kept in Abeyance
Each month PF Department collects from employers FOUR  components.
 A - Contribution towards a Corpus Fund. The contribution is the aggregate of Employee and Employers share.

As the PF UAN website has been facing glitches for the last few months, leaving employees with no access to their PF balances, the Department has made available the passbooks @  
 
http://112.133.230.60:9098/MemberPassBook/Login.jsp
 

Employees who wish to claim their PF contributions after resignation or on retirement were expected to affix a Re 1 Revenue Stamp in the respective PF Forms like Form 19 and Form 10C. In recent years, it is observed that in many states, Revenue Stamps sold at Post Offices are no longer available.

The Ministry of Micro Small and Medium Enterprises (MSME) believes that there are 55 million business units in India under its fold. Currently about 1,120 million Indians are registered with UIDAI and issued Aadhaar cards and numbers.

On superannuation at 58 years or for short service between the ages of 50 to 58 years, the PF that the Employee and Employers contribute over the years of service, a Pension component @ 8.33% of only the Employer share, subject to a maximum of Rs 1250/- per month is collected by the PF Department towards a Pension Fund. The cumulative contributions with interests form the Corpus for providing a monthly pension. A new Form 10D has been introduced termed as The Aadhaar based Pension Claim form. To see the form 10D click here

Stipend, is a fixed periodic payment to a student as a scholarship or a fellowship allowance. The question of whether Provident Fund (PF) applies to such Stipend payment or not is one of legitimacy of the payee being a registered student, a letter from the educational institution that the Internship is an integral part or extension of the academic curriculum.