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...
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...
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...
Much unorganized small business, either out of ignorance, or inability to absorb PF welfare costs or with environments of high attrition may have over the years avoided to get registered under PF or not contributed either for all their employees or partially. The Government, in its drive to a...
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...
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...
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...
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 The employee has to use UAN portal login details for accessing the PF Passbook. As of now, employees can only...
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. Employers are encouraged to take advantage of the extension and come forward to extend the Provident fund benefits for hitherto un enrolled...
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...