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- Allowances will be clubbed with basic pay to compute your PF
- Online PF withdrawal and transfer from July 1
- SBI Mutual Fund SMS Transaction Facility - M-Easy
| Allowances will be clubbed with basic pay to compute your PF Posted: 27 Apr 2013 06:18 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
DECKS have been cleared for clubbing of allowances with basic pay for PF deductions under the EPFO scheme, a move that will increase savings but reduce take-home pay of over five crore subscribers.
A review committee, constituted to look into the nitty-gritty of clubbing of allowances with basic pay for PF deductions, has supported the idea for enhancing the social security benefit
under the EPF scheme run by the employees' provident fund organisation (EPFO).
"The committee's suggestion would be vetted by the labour ministry and would be put before EPFO's apex decision making body the Central Board of Trustees (CBT) for taking final call on it," a trustee and secretary Bharatiya Mazdoor Sangh, B N Rai said.
"On the issue of clubbing of wages, even the employers' representatives supported the view that all such allowances which are regularly and uniformly paid to workers should form part of basic pay for PF deductions," said Rai, who was the member of the review panel.
The suggestions of the committee have been already sent to labour ministry for scrutiny, EPFO officials said.
On November 30, the outgoing Central Provident Fund, commissioner, RC Mishra brought out a notification to club all allowances, which are regular in nature, with basic pay.
The notification had said, "All such allowances which are ordinarily, necessarily and uniformly paid to the employees are to be treated as the basic wages." The notification was an effort to check the practice of splitting of wages by employers to reduce their provident fund obligations.
However, the notification was put in abeyance following reports, which criticised the move of the retirement fund body. The government later constituted a committee to look into the matter.
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--------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
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| Online PF withdrawal and transfer from July 1 Posted: 27 Apr 2013 03:02 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
OVER 50 million subscribers of the retirement fund body employees' provident fund organisation (EPFO) will be able to apply online for transfer and withdrawal of their provident fund from July 1, a move aimed at speedy settlement of claims.
"We have decided to set up a central clearance house which will be operational on July 1. This will enable subscribers to apply online for settlement of the withdrawal and transfer of funds claims," EPFO's central provident fund commissioner, Anil Swarup said. "The biggest problem faced by the subscribers is transferring their accounts on change of job. This central clearance facility will expedite the process," he added. The facility will enable subscribes to track online the status of their applications for transfer and withdrawals. However, the EPFO's ambitious plan to provide permanent account number to all subscribers would be possible by early next year. "It would be done in eight to 10 months. Since the process of providing permanent account number to all subscribers will take time, we thought of setting up central clearance house first," he said. Under the new system, the onus of verifying the details of the PF account from previous employers would be on the EPFO. At present, employees have to get their applications verified from their employers for settlement of claims.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
| SBI Mutual Fund SMS Transaction Facility - M-Easy Posted: 27 Apr 2013 02:26 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
SBI Mutual Fund SMS Transaction
SBI Mutual Fund has extended the SMS Transaction Facility (m-Easy) under the regular as well as direct plans of various equity and debt schemes (total 24 schemes). Investors can avail the facility of purchase, redemption as well as switch through m-Easy by sending SMS to the dedicated number.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
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