Everything you need to know about Factory Compliance A brief history of the Factories Act: In India, the use of machineries in cotton industries in the second half of the 19th Century paved the way for high production and set the pace of development of more factories. Major Moore, Chief Inspector, Bombay Cotton Department, first […]
Aparajitha is set for its acquisition journey of consolidating robust compliance platforms
Aparajitha is set for its acquisition journey of consolidating robust compliance platforms Chennai, 7th December 2022: Aparajitha, India’s largest compliance service provider, is all set to expand its growth and business outlook with the newer acquisitions and consolidating future tech-enabled compliance platforms. The company has set expansion goals in the coming years, envisioning to become the […]
Aware about the Supreme Court’s verdict on Amendment & Modification made to the Employee’s Pension Scheme, 1995?
The Supreme Court’s Judgement on 04th Nov’22, has upheld the constitutional validity of Employee’s Pension (Amendment) Scheme, 2014, but extended the timeline by FOUR months for the members to exercise their option to avail higher rate of pension if contribution was deposited on their FULL wages prior to 01st Sep’2014. Gist of the Supreme Court’s […]
A note on recent Apex court verdict – Pension on higher salary Holistic Journey of Higher Pension Arena from 1995 to SC judgment on 04-11-22!!!
EPS Scheme was introduced on 16thNov1995. EPFO gave options to the following employees to join the same, provided they can opt within 6 months from the date of commencement of Scheme. a) Employees those who had not opted FPF Fund, 1971 b)Members who had gone out of employment during the period before 1st April 1993 […]
Facility in EPFO’s portal for Principal Employer to view compliance for employees engaged through contractors
Facility in EPFO’s portal for Principal Employer to view compliance for employees engaged through contractors EPFO has launched a facility for all the employers through their own login view and giving them the access & monitor the compliance of their contract employees reported in ECR by their contractors. Under the EPF & MP Act, 1952 the […]
Environment Responsibility – A Mandatory Legal Duty for Businesses
Environment Responsibility – A Mandatory Legal Duty for Businesses Environment Responsibility is no longer just an expectation from regulators but a mandatory legal duty for Corporates. All the Corporates are legally bound to operate in a manner without causing harm to the environment & be more environmentally aware and responsible. Industrial activities are one of […]
How to file e-Nomination for EPF members | EPFO
EPFO – Special drive to file e-Nomination for EPF members in Commemoration of 75th Anniversary of India’s Independence [Bharat Ka Amrit Mahotsava] EPFO has launched a special drive for persuading members to file their e-Nomination in commemoration of the 75th Anniversary of India’s Independence and set a target of 5000 e-Nominations in a week […]
ESI – Inspection Process | Lets Talk Compliance
ESI- Inspection Process Earlier, ESI-Inspections were conducted randomly by choosing the establishments and an Authority making a visit independently. Since 16/10/2014, the inspections are initiated through the Shram Suvidha portal on the basis of LIN (Labour Identification Number) and with the details of the Social Security Officer (SSO). Earlier, there was no limitation period for […]
Maternity Benefits to Women Employees | Lets Talk Compliance
Women employees are entitled to various maternity benefits under Maternity Benefit Act, 1961 & ESI Act 1948 Ensuring Zero Hindrance for Women’s Participation in the Workforce To monetarily support the women employees during pregnancy and after childbirth, Indian law makes it mandatory for the applicable establishments to offer due maternity benefits to women employees. The Maternity […]
Interest on Employee contributions to Provident Fund over Rs 2.5 lakh per annum is Taxable Effective FY 2021 – 22
As announced in the Budget 2021, CBDT has issued notification vide G.S.R.604 (E) Dt. 31st Aug’2021 framing Rules for taxing interest on excess EPF contribution. Accordingly, the interest earned on any contribution in excess to Rs 2.5 lakh per annum by an employee to a recognized provident fund will be taxable from 01 April 2021. […]
Pre Closure of Attendance by Employers – Impact on Statutory Compliance | Lets Talk Compliance
Many Private Establishments in India resort to pre-closure of their employee’s attendance cycle, to ease their regular monthly salary process. Under this practice, if employee’s attendance cycle is decided from the 20th day of the previous calendar month to the 19th day of the current calendar month, employees joining an organization after the 19th day […]
EPFO – Digital facility for Principal Employers for monitoring of EPF compliances of their contractors | Lets Talk Compliance
A digital facility concerned with effective compliance EPFO has introduced a facility for an interlinking portion of contractor’s compliance with Principal Employers of their respective contract workmen for effective compliance monitoring. Principal Employers (PE) having their own code with EPFO and engaging contractor(s) can add the details of the contractor(s) and contract workmen (CWM) at […]
Labour Codes – Brief – Status of Draft Rules Notified by Centre/State Governments
While the Indian Parliament has already passed all the four Codes with the aim to streamline and simplify the country’s existing and overlapping labour lawswhich also received the President’s assent, appending hereunder the status of draft rules are published by 10 State Governments besides the Central Government. Brief on Labour Codes as a refresher:- The […]
Principle of Vicarious Liability | Essentials, Contract of and for Service
‘Vicarious liability or joint responsibility’ is a legal theory and it is one of those liabilities that is imposed on one person for the wrongful actions of another person. Such a liability arises usually because of some or the other legal relationship that exists between the two. The important point to be noted to impose […]
EPFO – UAN – Importance of KYC seeding and verifying | Lets Talk Compliance
Ensuring the genuineness of all the PF accounts held by an employee. EPFO, in October 2014, introduced UAN which stands for Universal Account Number to be allotted to Individual Members (Employees). The UAN will act as an umbrella for the Multiple Member Ids allotted to an individual by different establishments. The idea is to link those Multiple Member Identification Numbers (Member Ids) […]
Attention to IEC Holders, New Mandatory Compliances
What is an IEC or e-IEC? The Importer Exporter Code (IEC) or Electronic Importer Exporter Code (e-IEC) is a key business identification number issued by the Director General of Foreign Trade (”Facilitator” of Exports/Imports), which is mandatory for undertaking any export/import activities from/to India. Existing Procedure for Updation : Prior to this notification, IEC Holder […]
Food Safety Compliance System (FoSCoS)
Food Safety Compliance System (FoSCoS) A move for easing the system application of food licenses The Food Safety Compliance System (FoSCoS) is the new licensing and compliance portal of FSSAI and has been launched pan India on 1st November 2020. FoSCoS has replaced outdated Food Licensing and Registration Systems (FLRS). With the launch of FoSCoS, […]
Everything You Need to Know About TRADE LICENSE
Are you looking to start a new business? Then this is for you. Everything you need to know about TRADE LICENSE A trade license is a document/certificate that permits the applicant (person seeking to open a business) to commence a particular trade or business in a particular area/location. However, the license does not allow the […]
Appointment, Qualification, and Registration Requirement for an Independent Director
The details about qualification, appointment, and modus operandi of an Independent Director are not prescribed in the erstwhile Companies Act, 1956. Whereas the Ministry of Corporate Affairs has incorporated provisions regarding the same in the Companies Act, 2013 read with the Companies (Appointment and Qualification of Directors) Rule, 2014. The subsequent amendment made in the […]
Exclusion portion of salary cannot go beyond 50% – Let’s Talk Compliance
One significant change that is done under the proposed labour codes is on the definition of the term ‘wages’. Currently, various legislations follow various definitions. But the term is supposed to have a uniform definition under the codes, ideally making the determination of wages easy for employers. The quantum would be the same for various purposes, say, […]