Recent Updates

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Important: Online Claims/KYC-UAN/DSC & E-Sign Matters: May 30, 2018

It is to inform that DSC Token/E-Sign needs to be registered with the EPFO in order to perform all online activities.

(a) UAN-KYC Seeding: UAN-KYC seeding for all the employees is mandatory to avail all online services of EPFO. This shall not only help members in submission of online claims but also to generate e-passbook, view balance and apply for online transfer/settlement etc. It is also the statutory duty of the employer to do this failing which it may attract legal punitive actions.

(b) Submission of Online Claims: EPFO has already started the facility for submission of online claims and settlement of such claims is given due priority and are generally settled within 3 days time. In future EPFO may accept all the claims through online mode only, therefore it is advised to seed and verify KYC and submit claims through online mode only so as to avoid any inconvenience in later stage to avail seamless services from EPFO.

(c) Pendency of Transfer claims: It has come to notice that many transfer out cases are pending on the part of the employer for approval through online mode. It is advised to forward all such cases to EPFO as it would help the members to get credited their hard earned money to their current PF account. Any laxity or failure on the part of the employer may cause statutory punitive actions against them.

ADHAAR Linking Mandatory for UAN Allotment w.e.f 01/07/2017: August 5, 2017

As per the recent guidelines, ADHAAR linking has been made mandatory for the employees joining the establishment from 01/07/2017 onwards. So, we will be needing the exact Personal information i.e. Fathers Name, DOB as per the ADHAAR records for the authentication purpose. Also, Employee’s Personal details should exactly match with the ADHAAR for seeding and updating previous employees KYC .

EPFO : Recent amendment in Admin & EDLI Charges ( A/c 02 & A/c 22 ) w.e.f 01/04/2017: July 3rd, 2017

This is for your information that Govt has reduced PF Administrative charges (A/c 02) from 0.85% to 0.65% and pay subject to minimum of Rs.500 p.m. per establishment from 01.04.2017. In the case of non-functional units monthly minimum charges will be Rs.75. There will be no charges under EDLI, i.e A/c 22 Copy of notification dated 15.3.2017 in this regard is attached.

LAST DATE OF DEPOSITING ESIC CONTRIBUTION IS NOW 15TH OF EVERY MONTH W.E.F 1ST JULY 2017: July 4th, 2017

Launch of TRANSFER CLAIMS under unified portal in Member and Employer interface: August 5, 2017

To continue the momentum of the expansion of Digital India, by facilitating quick and easy service delivery, EPFO has launched transfer claims under unified portal in Member and Employer interface. Further for compliance in respect of multiple unit establishments, a facility has been provided to such employers to furnish their location-wise employees’ particulars.

The details with regards to same have been published vide EPFO Circular No. C-I/3(19)2016/Clarification/ECR/7357 dated 21.07.2017 and IS/4(1)2017/2537 dated 21.07.2017 and can be accessed by visiting the URLs
http://epfindia.gov.in/site_docs/PDFs/Circulars/Y2017-2018/C1_MultipleUnits_Estt_7357.pdf
and
http://epfindia.gov.in/site_docs/PDFs/Circulars/Y2017-2018/IS_TC_2537.PDF

Goods & Services Tax: July 3th, 2017

This is for your information that Govt has reduced PF Administrative charges (A/c 02) from 0.85% to 0.65% and pay subject to minimum of Rs.500 p.m. per establishment from 01.04.2017. In the case of non-functional units monthly minimum charges will be Rs.75. There will be no charges under EDLI, i.e A/c 22 Copy of notification dated 15.3.2017 in this regard is attached.

Goods & Services Tax: June 29th, 2017

Tax on financial services transactions will rise from the current 15% to 18% as the goods and services tax (GST) kicks in on 1 July, making them marginally costlier.

The new GST rates will apply to some banking transactions, mutual funds, insurance and stock market which were earlier taxed at 15% including Krishi Kalyan cess and Swachh Bharat cess. GST applies to all services where this a supply for consideration. So, in banking transactions such as credit card payments, fund transfer, ATM transactions, processing fees on loans etc., where the banks are levying charges, increased tax rates would apply. This would have a slight inflationary impact. The Central Board of Excise and Customs (CBEC), the nodal body for indirect taxes, would issue notifications clarifying exemptions from the flat 18% tax rate.

Interest on fixed deposits, bank account deposits etc., which do not attract a charge will remain so under the new regime. The government on 19 May finalized the tax rates for the services sector. 90% of the services were placed in the 18% bracket, which in absolute terms is a marginal increase, but is expected to reduce complexity in transaction and improve ease in availing of input credit. Out of all services, 63 have been put in a negative list, which are exempt from tax. In 2016-17, service tax collection jumped to Rs 2.54 trillion from Rs 2.11 trillion a year ago.

Similarly, in mutual funds, the total expense ratio (TER) charged for managing funds and distributor commissions etc., would increase by 4-5 basis points. TER for mutual funds varies between 1.25% and 2.75%.

Dearness Allowance w.e.f 01-04-2017 in GNCTD: June 9th, 2017

Office Order regarding Dearness Allowances with increased minimum wages w.e.f 01st April,2017

Government to facilitate Employers with 8.33% EPS Contribution under Pradhan Mantri Rojgar Protsahan Yojana(PMRPY): June 8th, 2017

All establishments registered with Employees’ Provident Fund Organisation (EPFO) can apply for availing benefits under the scheme subject to the following conditions:

(a) Establishments registered with the Employees’ Provident Fund Organisation (EPFO) should also have a Labour Identification Number (LIN) allotted to them under the Shram Suvidha Portal (https://shramsuvidha.gov.in). The LIN will be the primary reference number for all communication to be made under the PMRPY Scheme.

(b) The eligible employer must have added new employees to the reference base of workers in order to avail benefits under the Scheme from August, 2016 onwards. The reference base of workers will be determined by the number of employees against whom the employer has deposited the 12% (3.67% EPF + 8.33% EPS) with EPFO as on 31st March, 2016, as ascertained/verified from the monthly ECR for March, 2016. For example, an establishment, say M/s ABC Ltd. had filed an ECR for the employers’ contribution for 45 employees/workers in March, 2016. In the month of April, 2016, the establishment has added, say, 15 new workers bringing the total of employees to 60, the employer will be eligible to apply for the PMRPY scheme benefits for these 15 new employees. The employer will not be eligible to avail of PMRPY benefits if there is no new employment vis-à-vis the reference base in any subsequent month. The new employee, as mentioned in para 5(e) above, is one that had not worked in any EPFO registered establishment or had a Universal Account Number, in the past, i.e. prior to 01st April, 2016.

(c) For new establishment coming into existence/getting registered with EPFO after 01st April, 2016, the reference base will be taken as Zero/NIL employees. Thus, the employer can avail of PMRPY benefits for all new eligible employees.

(d) The PMRPY scheme is targeted for employees earning wages less than Rs 15,000/- per month. Thus, new employees earning wages more than Rs 15,000/- per month will not be eligible. A new employee is one who has not been working in an EPFO registered establishment on a regular basis prior to 01st April, 2016 and will be determined by the allocation of a new Aadhaar seeded Universal Account Number (UAN) on or after 01.04.2016. In case the new employee does not have a new UAN, the employer will facilitate this through the EPFO portal.

(e) The employers will continue to get the 8.33% contribution paid by the Government for these eligible new employees for the next 3 years, provided they continue in employment by the same employer. The 8.33% contribution will be paid by GOI after the employer has remitted the 3.67% EPF contribution for these new employees each month. To avoid any penalty on the EPF/EPS contribution, the employer is advised to submit the PMRPY online form at the earliest, preferably by the 10th of the following month.

(f) Employers/Establishments applying for the Scheme shall be fully responsible for the information uploaded. If at any time, it is found that the information submitted is incorrect or false, it will be assumed that the EPSpayment(and EPF payment for textile sector) has not been made for these employees. The employer will then be liable for dues and penalties as already specified under the relevant provisions of The Employees’ Provident Fund Scheme, 1952.

The Scheme will be in operation for a period of 3 years and the Government of India will continue to pay the 8.33% EPS contribution to be made by the employer for the next 3 years. That is, all new eligible employees will be covered under the PMRPY Scheme till 2019-20.

Notification : Revised Minimum Wages In Delhi w.e.f. 01/04/2017: April 1st, 2017

The minimum rates of wages for the class of workmen/employees mentioned in all the Schedule employments are revised as mentioned:

PF Amendment 2017: New Scheme for PF Defaulters: March 20, 2017

EPFO has introduced a notification, in which special drive will be initiated from 1st January, 2017 by the EPFO for coverage of the Establishment which are not yet covered but which are liable for EPF coverage. This scheme has now extended till 30th June, 2017. The Board took note of the extension of Employees’ Enrolment Campaign (EEC) by the Government for additional three months beginning 01st April 2017. The EEC aims to enroll left out employees and provides incentives to employers in the form of waiver of administrative charges, nominal damages @ Rupee 1/- annum and waiver of employees share if not deducted.

The Establishment which is legally liable for coverage will be covered under the Employees Provident Fund Act. According to the Scheme, following benefits will be provided to the PF defaulters:

1. Only Employer Share will be levied, No Employees Share.

2. Interest as applicable on Employer’s Share.

3. Damages @ Rs.1/- Per Annum.

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