The Punjab and Haryana high court has held that Maternity Benefit Act, 1961, will have supremacy over service regulations of a financial institution, if the same are in conflict with each other.
“Section 27(1) specifically provides that the provisions of the Maternity Benefit Act will have effect notwithstanding anything inconsistent therewith contained in any other law or in the terms of any...Read More
The Finance Act 2020 introduced a new provision under the Income-tax Act, 1961 (the Act) by virtue of which employer contribution to Employers Provident Fund (EPF), National Pension System (NPS) or any other superannuation fund (‘SF’), exceeding Rs 7,50,000/- per annum in aggregate (now referred as ‘excess contributions’), is now taxable in the hands of the employee as perquisite.
Further,...Read More
