Skip to main content

Quick Overview on G20 - 2023 India

  The 2023 G20 summit was held in New Delhi, India, on September 9-10, 2023. The main venue was the Pragati Maidan, a large exhibition complex in central Delhi. The summit was also held at other venues in New Delhi, including the Hyderabad House, the Prime Minister's residence, and the India International Centre. The 2023 G20 summit was attended by the leaders of the 20 member countries of the G20, as well as the leaders of several invited countries, including Argentina, Indonesia, Senegal, South Africa, and Turkey. The summit was also attended by the heads of international organizations, such as the United Nations, the World Bank, and the International Monetary Fund. The G20 Delhi Declaration was the outcome document of the 2023 G20 summit. It was a 38-paragraph document that covered a wide range of issues, including: The global economy and finance: The declaration called for continued efforts to strengthen the global economy and financial system. It also emphasized the importance
Post a Comment

EPFO Speedy Settlement of Claims


The Employees’ Provident Funds Organization (EPFO) has taken various steps for speedy settlement of claims which inter alia include:


v  Composite Claim Form (Aadhaar) and Composite Claim Form (Non-Aadhaar) has been introduced by replacing the erstwhile Claim Forms No. 19, 10C and 31, with a view to simplify the submission of claims by the subscribers. The Composite Claim Form has been further simplified to include self-certification by EPF subscribers.  The Composite Claim Form (Aadhaar) can be submitted to the EPFO without attestation of their employers.

v  EPFO has mandated to settle claims within 20 days. 

v  Online Transfer Claim Portal (OTCP) has been introduced to facilitate seamless transfer of claims.

v  An online payment facility has been developed for employers for payment of dues. The internet banking (INB) facility enhances efficiency and payment and ensures anytime, anywhere online access while usage of existing internet bank account to make payments online.  

v  National Electronic Fund Transfer (NEFT) has been introduced for payments.  

The Employees’ Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 is applicable to every establishment employing 20 or more persons which is either a factory engaged in any industry specified in Schedule–I of the Act or an establishment to which the Act has been made applicable by the Central Government by notification in the Official Gazette.

There was a total of 17.14 crore Employees’ Provident Fund (EPF) accounts as on 31.03.2016. 12.21 lakh accounts were pending for updation. As per consolidated Annual Accounts of EPFO for the year 2015-16, the closing balance in Interest Account as on 31st March, 2016 is Rs. 45,135.25 crore. 

This information was given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in written reply to a question in Lok Sabha.







Disclaimer:
The post on this blog is not a professional advice and is shared for academic and knowledge sharing purpose only.
Labels:

Comments

Post a Comment

Popular posts from this blog

Tax Deducted at Source (TDS) Rates for Assessment Year 2023-24

  Rates for tax deduction at source *   [For Assessment year 2023-24] Particulars TDS Rates (in %) 1. In the case of a person other than a company   1.1 where the person is resident in India-   Section 192 :  Payment of salary Normal Slab Rate Section 192A :  Payment of accumulated balance of provident fund which is taxable in the hands of an employee. 10 Section 193 :  Interest on securities   a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act; 10 b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; 10 c) any security of the Central or State Government; [i.e. 8% Savings (Taxable) Bonds, 2003 and 7.75% Saving (Taxable) Bonds, 2018] 10 d) interest on any other security 10 Section 194 :  Income by way of dividend 10 Section 194A
Post a Comment
Read more

Form 3CEB FAQ's

  Question 1: What are the prerequisites for filing of Form 3CEB? Resolution: The following are the prerequisites for filing of Form 3CEB: • Taxpayer and CA are registered on the e-Filing portal with valid user ID and password • Status of PAN of taxpayer and CA is active • Taxpayer has assigned CA for form 3CEB • CA and Taxpayer have a valid and active Digital Signature Certificate. Question 2: What is the process to submit Form 3CEB? Resolution: Following are the steps to file form 3CEB: • Step 1: Taxpayer needs to add Chartered Account to whom he/she wants to assign the form. Taxpayer may add CA by navigating through Authorised Partners → My Chartered Accountant → Add CA. Alternatively, taxpayer may navigate through e-File → Income Tax Forms → File Income Tax Forms → Form 3CEB. • Step 2: After successfully adding CA, taxpayer needs to assign Form 3CEB. Taxpayer is requested to navigate to e-File → Income Tax Forms → File Income Tax Forms and select Form 3CEB. Form can be assigned to
Post a Comment
Read more