23 Key highlights of new Wage code 2019

Posted Posted in Labour Law

1.Employee definition includes Supervisory, Administrative and Managerial employees too. 2.24,000 ceiling for employee definition dissolved  3.Schedule Employment abolished. Thus now almost everyone will be covered under the definition of Employee  4.OT double of normal wages VS current practice of double of Basic + DA 5.Consent of Employees for OT required. 6.There will be a National […]

Now Withdraw EPF For Treatment Without Doctor Certificate

Posted Posted in News and Research

Over four crore members of the retirement fund body EPFO can now withdraw funds from their EPF account for the treatment of illness and purchasing equipment to deal with handicap without medical certificates. The Employees’ Provident Fund Scheme 1952 is amended to do away with the requirement of submission of various certificates and proformas for […]

13 points of POSH Act, 2013 without which your POSH compliance is incomplete

Posted Posted in Labour Law

Board Resolution for compliance under POSH Act,2013 -Get a draft for Board Resolution Constitution of Internal Complaints Committee(ICC) -Get a draft for Constitution ICC Preparing drafts  of appointment letters to be issued to new Internal Complaint Committee (ICC) members  -Get a draft for Appointment letters Induction/Orientation Programme for ICC Members Making Rules & Regulations under POSH […]

New scheme of EPFO withdrawal to facilitate housing needs

Posted Posted in Research

New scheme for withdrawal  of Employees Provident Fund Organization has introduced to facilitate the housing needs of employees/workers. In a statement, Sanat Kumar, Regional PF Commissioner-I, said the member may apply for withdrawal, being a member of society having 10 or more members and registered under any law, and the society is desirous of purchasing […]

Digital Fund Transfer System for Pensioners Launch by EPFO

Posted Posted in Research

To ensure quick transfer of funds, the government will now make payments to Employees’ Provident Fund Organisation (EPFO) beneficiaries through electronic or digital fund transfer system. This move by the government is likely to benefit 4.5 crores EPF subscribers and around than 54 lakh pensioners.  The Ministry of Labour & Employment vide notification dated 4th […]

EPFO May Reduce Provident Fund Contributions to 10%

Posted Posted in Research

Trustees of retirement fund body Emploment Provident Fund Organisation (EPFO) may approve a proposal tomorrow to reduce the mandatory contributions toward social security schemes run by it to 10 per cent for workers as well as employers. Presently, employees and employers contribute 12 per cent of basic wages each towards Employees Provident Fund Scheme (EPF), […]

EPFO to Invest Rs 20,000 crores in Equities in 2017-18

Posted Posted in Research

Retirement fund body Employees Provident Fund Organisation (EPFO) will invest Rs 20,000 crore in exchange traded funds this fiscal as it has decided to raise the investment limit in ETFs, Union Minister Bandaru Dattatreya said on Sunday. Yesterday, the Employees Provident Fund Organisation (EPFO) Central Board of Trustees meeting held in Pune agreed on the […]