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, […]
Minimum Wages Applies to All Industries – Code on Wages – Lets Talk Compliance
“The Code on Wages, when getting implemented, is likely to bring in some significant changes in regards to minimum wages. Currently, the Minimum Wages Act will apply only to those industries which are listed in the Schedule attached to the Act. There is no obligation too on the employers to pay the National Floor Level […]
How important is to comply with Environment Health and Safety regulations
How important is to comply with Environment Health and Safety regulations Economic progress, growth of Industry are parallel for nation’s development. Enhancement of advanced technologies and implementation in the industrial expansion obligates the government to be accountable to enact regulations on Environment Health and safety to fix industrial pollution standards, with objective to protect air, […]
The Code On Wages, 2019 – Highlights
THE CODE ON WAGES, 2019 HIGHLIGHTS OF THE CHANGES MADE MINIMUM WAGES HRA – No more part of minimum wages Geographical Areas classified as metropolitan, non metropolitan and rural areas (Rule 4) The employees employed in supervisory or Managerial position are also eligible for Minimum Wages Statutory […]
Code On Social Security, 2020 – Highlights
CODE ON SOCIAL SECURITY, 2020 HIGHLIGHTS OF THE CHANGES PROPOSED PROVIDENT FUND (PF) 1 The Chapter III concerning the PF shall apply to an establishment employing 20 or more employees(industry-specific applicability withdrawn) 2 There is no wage ceiling for PF employee coverage 3 Limitation period is introduced as 5 years for the institution of […]
Highlights – The Industrial Relations Code, 2020
THE INDUSTRIAL RELATIONS CODE, 2020 HIGHLIGHTS OF THE CHANGES MADE INDUSTRIAL DISPUTES 1 The definition of the term “industry is modified in line with the Apex court verdict in Bangalore Water Supply and Sewage Board Case. 2 Domestic services and the Institutions engaged in charitable social or philanthropic service are excluded from the term […]
Udyam Registration – New Portal and New Process
To bring an elevation in the world of MSME, the Government of India based on the recommendations of the Advisory Committee, notified a new process of Classification and Registration of enterprises under The Micro, Small and Medium Enterprises Development Act, 2006 with effect from 1st July 2020. The amendment aims at removing the difficulties faced […]
Can a judgement made in the context of PF be applied for other purposes? – Lets Talk Compliance
The judgement pronounced by the Hon’ble Supreme Court on 28/2/2019 holding certain allowances to be wages ( basic, to be precise ) in the context of PF created a big buzz last year and some of the companies were forced to review their salary structure in the wake of the judgement. The ripples created don’t […]