Introduction of SINGLE PAGE Composite PF Claim Forms instead of THREE Forms EPFO has introduced a single page claim form with effect from February 20, 2017. This replaces the existing 3 Form i.e.  Form 19, Form  10C and Form 31 for PF withdrawals and loans. It also eliminates Employer certification. The...
Registrations required under the Act All businesses in Karnataka regardless of whether they employ 1 or 1000 persons are required to register their business under this Act. Business has two types of licensing under the Karnataka Professions, Trades, Callings and Employment Act. ONE to enroll its business as a legitimate undertaking...
An introduction of international worker provisions in PF Foreign nationals coming to take employment in India were earlier excluded from the provisions of the EPF Act as their remunerations in most cases far exceeded above the statutory threshold limit. On the other hand, Indian workers venturing to work overseas are subjected...
This article is to facilitate online payment of Provident fund remittances for those firms which are having SBI Corporate account. First, visit EPFO site and generate monthly contribution challan, then follow it by making remittance in SBI online. The Process is detailed below. EPFO site Visit EPF website at http://www.epfindia.com/ and click...
EPFO is introducing Electronic Challan cum Return (ECR) effective April 2012 for depositing contributions by all employers. Copy of the notifications can be downloaded from here and here. Click Here Applicability of PF Provisions to International Workers Salient features of the new system are : Automatic updating of accounts on receipt of...
ESI applies to any small organization with 10 or more employees. Now, no need to shortchange your lower wage workers or worry of the past omissions on extending ESI coverage and benefits to your workers. The Govt has launched a SPREE programme of 3 months between Jan to  March...
A 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 the legitimacy of the payee being a registered student, a letter from the educational institution...
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...
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, a settlement on retirement etc. It is a cumbersome exercise of authentication, certification, attestation of documents...
Reduction in Administrative Costs 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. B - Contributions towards a Pension Scheme C - Insurance Premia for a Deposit...