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India: Supreme Court Re-Affirms The Inclusion Of Allowances For Determining Provident Fund Contributions |
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India: Supreme Court Re-Affirms The Inclusion Of Allowances For Determining Provident Fund Contributions
Mondaq.com
11 March 2019
The Hon’ble Supreme Court of India vide its judgment passed on February 28, 2019 in the case of The Regional Provident Fund Commissioner (II) West Bengal vs. Vivekananda Vidyamandir and Others (clubbed with certain other civil appeals) has re-affirmed the position concerning treatment of allowances for determining the provident fund contribution. …
EPF Contribution Payable On ‘Basic Wages’ Camouflaged As Allowances: SC
Livelaw.in
28 Feb 2019
“In order that the amount goes beyond the basic wages, it has to be shown that the workman concerned had become eligible to get this extra amount beyond the normal work which he was otherwise required to put in.”
The Supreme Court has held that, in order that the amount goes beyond the ‘basic wages’ for the purposes of the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, it has to be shown by the employer that the workman concerned had become eligible to get this extra amount beyond the normal work which he was otherwise required to put in. …
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Interest rates on PPF, other savings to be lower from April 1
Timesofindia.indiatimes.com
Mar 31, 2016
NEW DELHI: Interest rate on small savings schemes, including Public Provident Fund (PPF), Kisan Vikas Patra (KVP) and senior citizen deposits, will be cut by up to 1.3 per cent from Friday (April 1) as the government moves towards quarterly alignment of rates with the market. …
More: MOF O.M. dated 18.03.2016 – Revision of interest rates for Small Savings Scheme >>> Other Govt Orders
Government wants PF cover in 10-worker units
Economictimes.indiatimes.com
March 11, 2016
NEW DELHI: Companies employing 10 or more workers may soon have to pay provident fund, a move aimed at increasing the coverage of the Employees’ Provident Fund (EPF) scheme and in line with the government’s plan to ensure social security to a larger section of workers. …
Online transfer of PF accounts likely to start from August 15 Times of India
Jul 28, 2013
NEW DELHI: Retirement fund body EPFO is likely to start online transfer of PF accounts on changing jobs by this Independence Day on August 15, a move that would benefit over 13 lakh such applicants every year.
The Employees’ Provident Fund Organisation (EPFO) has started registering digital signatures of employers from Thursday which is a prerequisite for providing the facility and is expecting an overwhelming response from employers. …
Provident Fund commissioner’s duty to settle dues
Jun 18, 2013
MUMBAI: The Regional Provident Fund Commissioner should take action against any company that has not deposited the dues of a beneficiary and try to recover the money, the state consumer disputes redress commission has said. …
Contribution Cards for CPF Subscribers
Aug 13, 2012
There are 11.18 Crore member accounts with Employees’ Provident Fund Organisation (EPFO) as on 07.08.2012. An e-Passbook facility, which can serve as Contribution Card, has been provided to EPFO subscribers. Members can access all the entries in their account with the facility to take a print out of their account statement.
The e-Passbook facility is already implemented in EPFO w.e.f. 20.07.2012. As the facility is being provided electronically, it is free of cost to the EPF subscribers.
The above e-Passbook facility is available for all the EPF members working in both organized as well as unorganized sectors.
There are 11.18 Crore member accounts with Employees’ Provident Fund Organisation (EPFO) as on 07.08.2012. An e-Passbook facility, which can serve as Contribution Card, has been provided to EPFO subscribers. Members can access all the entries in their account with the facility to take a print out of their account statement.
The Union Labour & Employment Minister Shri Mallikarjun Kharge gave this information in a written reply in Lok Sabha today.
(Courtesy: pib press release)
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