No Tags Found!

SH

Shai89308

Executive Hr

AS

Ammu Shanvi

Human Resource

GS

G SHASHI KRISHNA

Senior Manager - Hr

AH

Aizant HR

Human Resources

MA

MARSHAL

Safety Officer

AK

Anish Katoch

Hr Executive

PR

PranjalR

Hr Recruiter

AP

Alka Pal

Hr Executive

Karthikeyan8195

Management Consultant

MK

Mohit Kumar Puri

Head Marketing

AU

Austex

Accounts Manager


pca
1442

EPFO Launches E-returns for Exempted Establishments

To reduce the workload of exempted establishments and ensure better monitoring of provident fund investments, the EPFO has launched the facility for filing electronic returns.

Launching the software here, Labour Minister Oscar Fernandes said the facility would benefit over 3,000 exempted establishments that were now required to file their monthly and annual paper returns.

He said it was the Employees Provident Fund Organisation (EPFO) that had been entrusted with the responsibility to ensure that employees were paid provident fund and pension on time.

Labour Secretary Gauri Kumar called for close monitoring of exempted establishment as they managed the provident funds of over 56 lakh members and the funds size of these establishments had exceeded Rs 1,59,000 crore.

The EPFO said it was also working on a software to take care of transfers of the employees from unexempted establishments to exempted ones and vice-versa.

K.K.Jalan, Central Provident Fund Commissioner, said EPFO was committed to strengthen e-governance and provide better services to its stakeholders.

According to the EPFO, the electronic return has six parts — establishment details, trust details, employment details, contribution details, investment details and annual information.

The establishment details and trust details will be for one time entry and editing can be done later if required. Employment details and contribution details will be entered each month by all establishments complying as exempted under the EPF scheme. Investment details will have to be entered by the parent trust every month.

The participating units and branches can view the data. This part will have the details of receipts and payments including investments by the trust.

Annual information will be made by the parent trust only at the end of each financial year, with details such as audit of accounts, interest declaration, maturity/interest in default etc.

Business Line, New Delhi, 14-01-2014

From India, Malappuram
Raj Kumar Hansdah
1425

Dear PCA
Nice Update; and thanks.
If you could also explain briefly, what are the "Ëxempted establishments" under the Act; this thread will become more useful for all, especially the Freshers.
Warm regards.

From India, Delhi
korgaonkar k a
2555

Dear Raj Kumar ji,

I am sure, you are aware of what is "exempted establishment" and this chapter. You did mention your intention of making this thread more useful especially to freshers. And therefore, I would like to contribute in this topic. Also to make revision of my understandings in the said topic.

"Exempted establishment" as defined in section 2(fff) is an establishment to which an exemption is granted from the operation of all or any of the provisions of any scheme.

U/s 17 of the Act exemption is granted by the Appropriate Government from any of the 3 schemes.

Exemption is granted u/s 17(1)(a) to any establishment to which the EPF &MP’52 Act applies if :-

(i) The rules of PF scheme with respect to the rates of contribution is not less favorable; (ii) Employees are enjoying other PF benefits also.

There are following types of exemptions:

Exemption of establishment as a whole- Sec 17 (1) (a); Exemption to a class of establishment or class of employees - Sec 17 (2); Exemption of individual employees - Para 27; Relaxation - Para 79; and EDLI Exemption - Sec 17 (2A).

The employer of "exempted establishment" is required to form a Board of Trustees (BOT) who maintain detailed account, submit returns to RPFC, invest PF money as per Central Govt. directions. BOT is duty bound to transfer accounts of employees.

The objects / purpose to grant this exemption are:

(i) To allow the employers with good track record to provide flexibility –for extending better benefits to employees;

(ii) To overcome service related issues; and

(iii)To aid and supplement the efforts of Government to extend the Social Security Cover to maximum persons.

From India, Mumbai
Raj Kumar Hansdah
1425

Dear Mr.Koragaonkar
Thanks for your authoritative and definitive input, complete with relevant sections of the Act.
Your write-up will be useful to everyone esp. those MBA students who look for information on "What do you understand by the term "exempted establishment" under the EPF&MP Act."
As you have correctly observed, I am aware of such Exempted Establishment, not only academically, but especially after having worked in one for several years.
However, I wish to encourage members and thread-posters to add more information; and make their threads wholesome and useful to all.
Do continue to enlighten us with your informative posts.
Warm regards.

From India, Delhi
HR_Mind
37

Dear Admins,
earlier there was a option that you can convert any thread in pdf form and can save that offline. unfortunately i am unable to see that option,
i really wanted to know that same is continue going or not ???
please correct me if i am wrong, cause i wanted to save this thread in pdf form and i am unable to see that option.

From India, New Delhi
Raj Kumar Hansdah
1425

Dear Pawan

You should have posted your query in a separate thread.

This thread has been started by another member on an entirely different topic. Such out-of-the-topic discussions would be considered an "ïnterruption"or "intrusion" into someone else's discussions.

In any case, on your behalf, I had forwarded your query to our Super Moderator Ms. (Cite Contribution); and below is the response I received :

----------------------------------------------------------------------------------------------------

"Did you try the print version? Let me explain this , will post it on a thread as well.

Go to thread tools

Select 'Print'

Right click on the screen and select 'save as ' option.

Please save it as 'PDF' in your folder

Please let me know if this helps ?"

---------------------------------------------------------------------------------------------

Hope you got the best answer for your query.

Warm regards.


From India, Delhi
HR_Mind
37

I am so sorry for inconvenience, my intention was not to break this thread continuation.
i didn't get that option and your given link is not working . so please see this issue.
thanks in advance!!!

From India, New Delhi
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.




About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.