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Hi Folks!
Are employees of joint ventures eligible to receive benefits under Share Based Employee Benefits schemes?
Hello all,
What are immediate actionables for the fiduciaries and intermediaries who are required to handle UPSI in relation to MF schemes?
Hi Professionals!!
Are the companies having names like mutual benefit the same as mutual funds schemes?
Hello all,
Whether Pricing Guidelines apply for Indian company buying back shares in a scheme of merger/ de-merger/ amalgamation of Indian companies approved by NCLT/ competent authority for Buyback of shares/ Reduction of Capital by an Indian company?
Hello Everyone,
Does the definition of aggregate turnover under section 2(6) of CGST Act 2017 include branch transfer within a state, to determine eligibility criteria for Composition Scheme?
Hello all,
I am a registered taxpayer availing the composition scheme under GST Portal. Do I need to file fresh application to opt for composition scheme?
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What can the scheme of revival and rehabilitation provide?
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Hi Everyone!
Resident individuals (but not permanently resident in India) can remit up to net salary after deduction of taxes. However, if he has exhausted the limit of USD 2,50,000 as net salary remittance and desires to remit any other income under LRS is it permissible as the limit will be over and above USD 2,50,000?
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Dear All,
Which authority regulates Collective investment scheme.
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Hi All,
What is the procedure for conversion from a normal scheme to a composition scheme under GST?
Also please let us know about the Input Credit pending utilization.
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· Information has been received from some reliable sources that your establishment might have employed more than 19 persons in or in connection to the work of your establishment which renders your establishment coverable under the EPF&MP Act, 1952 (hereinafter referred to as “the Act”). However, as per the official record, your establishment is not found registered with this office.
· Your attention is invited towards the provisions of the Act for determining coverage, persons employed directly as well through contractors are aggregated and if on any day the total count of persons so employed crosses 19 persons, from that day the Act becomes applicable and remains applicable even if the strength of persons later falls below twenty persons.
· Thus, as soon as the total number of employees (directly/hired contractual employees) working in an establishment reaches 20, the establishment is mandatorily required to ensure compliance of the Act and to be able to do so a PF Code number is required to be taken from EPFO. Even if all the employees are drawing salaries more than the statutory wage limit under the Act, still the establishment has to obtain a PF Code and has to pay only the monthly minimum Administration charges through the said PF Code online.
· Since, the Act is a beneficial piece of legislation and is enacted to provide PF, Pension and Insurance benefits to the employees, therefore, in case of noncompliance stringent provisions have been provided therein.
· Non-deposit of PF contribution is categorized as a cognizable offence under the Act and for it, imprisonment which may extend up to three years with a fine has been provided.
· Along with the criminal liabilities, civil actions like 7A inquiry for the determination of due amount and provisions of penalty (which can be 100% of the unpaid amount) and interest thereon are provided in sections 14B and 7Q of the Act.
· The department is vested with sufficient powers to recover the unpaid dues through different recovery actions including attachment of Bank Accounts, movable and immovable properties of the defaulter establishment and arrest of the defaulters.
· Hence to avoid adverse legal consequences, in case your establishment is coverable, you are hereby advised to register your establishment online through Shram Suvidha Portal of EPFO and start remitting the EPF and other allied dues w.e.f. the date of eligibility without any further delay.
· In case you have already registered and you are already complying under the Act you are requested to provide the PF Code Number immediately to this office.
· Further, if your establishment is not coverable you are requested to provide an undertaking of this effect along with supporting documents.
· Your reply with regard to this communication is required to be submitted to this office within 7 days from the date of this communication. Further, it is also requested to submit the details of the Date of incorporation of your establishment and month-wise employment strength of all types (Direct as well as indirect through contractors) of employees/persons engaged (full-time, casual, trainee, apprentice or part-time) in your establishment.
· You are always welcome to contact this office for any assistance and clarification on the matter.
EMAIL RECEIVED FROM
Coordination Wing RO Rohtak,
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