Tax Implications Of Provident Fund & How To Save Tax

Provident Fund or PF is a tax-saving retirement scheme that offers a safety net upon retirement to employees who invest in it. But in certain cases, the interest and PF withdrawal are taxable. This post helps you understand PF taxability rules, types of PF and their tax implications and how to save taxes.

Posted on 13-Oct-2022

EPFO – UAN – Importance of KYC seeding and verifying

EPFO, in October 2014, introduced UAN which stands for Universal Account Number to be allotted to Individual Members (Employees). The UAN will act as an umbrella for the Multiple Member Ids allotted to an individual by different establishments. The idea is to link those Multiple Member Identification Numbers (Member Ids) under a single Universal Account Number.

Posted on 21-Sep-2022

PFO – Digital facility for Principal Employers for monitoring of EPF compliances of their contractors | Lets Talk Compliance

EPFO has introduced a facility for an interlinking portion of contractor’s compliance with Principal Employers of their respective contract workmen for effective compliance monitoring.

Posted on 19-Sep-2022

ESI – Inspection Process | Lets Talk Compliance

Earlier, ESI-Inspections were conducted randomly by choosing the establishments and an Authority making a visit independently. Since 16/10/2014, the inspections are initiated through the Shram Suvidha portal on the basis of LIN (Labour Identification Number) and with the details of the Social Security Officer (SSO).

Posted on 10-Sep-2022

Facility in EPFO’s portal for Principal Employer to view compliance for employees engaged through contractors

EPFO has launched a facility for all the employers through their own login view and giving them the access & monitor the compliance of their contract employees reported in ECR by their contractors. Under the EPF & MP Act, 1952 the definition of employee in section 2 (f) means a person employed in or in connection with the work of an establishment and gets wages directly and includes any person employed by or through a contractor.

Posted on 09-Sep-2022