The interest earned on the Employee PF contribution on the amount above Rs. 2.5 lakh w.e.f. 01/4/2021 shall be chargeable to tax, i.e. if Contribution is more than 2.5 lakhs per annum, the interest amount earned on the Employee PF contribution above Rs.2.5 lakh shall be taxable.
The past accumulated balance is safe and no tax on it. Moreover, the interest earned on such accumulation...Read More
Trustees of the Employee’s Provident Fund last week recommended an interest of 8.1% on the fund’s accumulations for 2021-22 – the lowest interest rate since 1977-78, when a rate of 8% was notified. But a blind comparison of interest rates over time can be misleading as the financial instruments available to EPF have been expanded to include equities. Yet, shortcomings of India’s huge social...Read More
When you land at Mumbai’s airport, you can book a prepaid taxi service. You’ll find a separate counter if you want a woman driver. It is meant for women passengers who prefer to have a female driver for that extra assurance of safety.
Presumably, if an equivalent option were available to men, it would have gone unnoticed.
What took so long for women-driven airport cabs to be...Read More
A bench of Justice Ravindra Ghuge has accordingly ordered the automobile giant to pay compensation to the 52 employees, who moved the HC challenging the orders of an Industrial Court in Pune, refusing any relief to them.
In a setback for Tata Motors, the Bombay High Court has held that the company resorted to unfair labour practices with thousands of its temporary workers by recruiting them...Read More
The inclusive approach, in the Indian manufacturing sector increasing now since after P&G, ABB extends similar benefits to LGBTQ couples and co-habiting partners, adoptive, and surrogacy commissioning parents.
ABB India has announced a gender-neutral and inclusive parental program recognizing the need for both parents to be present with their newborns or a new adoptive child under...Read More
According to Labour and Employment Minister Bhupender Yadav, India’s Labour Codes are futuristic.
India is one of the few countries in the world that has recognized Gig and Platform Workers in our Codes and they have been regsitered on the e-Shram Portal. While other countries are waiting for judicial interpretation on applicability of Employment Laws, especially Health, Insurance &...Read More
The EPFO had amended the scheme in 2014 to cap monthly pensionable basic wages to ₹15,000.
Retirement Fund body EPFO is mulling a new pension product for organised sector workers who are getting basic wages of more than ₹15,000 per month and are not mandatorily covered under its Employees’ Pension Scheme 1995 (EPS-95).
At present, all those employees in the organised...Read More
Section 80JJAA : Tax Deduction for Employment of New Employees;
Problem of unemployment is not a small problem for any country. This particular section was introduced by Govt. in Income Tax Act to generate more employment and to encourage people. Lets have a look at this blog and you can plan the recruitment process to claim a huge amount of deduction of additional employment cost.
What is...Read More
A Demonstration Representative, working on Commission basis, is a Workman under section 2(s) of the Industrial Disputes Act, 1947 if his work was incidental to the main job of the Industry.
Commission paid to the Cintractual Employee is also remuneration since the same is paid against utilisation of service of the employee.
Commission is only a form of pay and can not escape the satisfaction...Read More
The EPFO ought to ensure that indiscriminate communications to clients of defaulting employers and freezing orders of bank accounts are not written so as to jeopardies the business interests of employers.
The EPFO may take less stringent steps such as debit-freeze etc. as a first step for achieving the purpose. Freezing of bank accounts ought to be resorted to in exceptional circumstances...Read More
