Archive for 2016
The Ministry of Labour and Employment has, by way of a gazette notification, enhanced the ESI wage ceiling from Rs 15,000 per month to Rs 21,000 per month. This comes into effect from 01-Jan-2017. As you are aware, the current limit is Rs 15,000 – in other words, employees who draw an ESI wage of […]
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Leave a Comment (92) →We find that the most frequently used pay period (the period of time for which salary is paid), at least in the organized sector in India, is monthly. According to Section 4 of the Payment of Wages Act, 1936, one of the relevant statutes governing salary payments, 4. Fixation of wage-periods (1) Every person responsible for […]
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The Employee’s Provident fund Organization (commonly referred to as the PF Department) has announced that Universal Account Number (UAN) will be the unique identifier for PF remittance for each employee in the Electronic Challan cum Return (ECR) file in future. Please take a look at the PF Department circular dated 26-Oct-2016 in this regard. While […]
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Leave a Comment (2) →The Ministry of Labour and Employment has, by way of a gazette notification, sought feedback regarding enhancing the ESI wage limit from Rs 15,000 per month to Rs 21,000 per month. As you are aware, the current limit is Rs 15,000 – in other words, employees who draw an ESI wage of more than Rs […]
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Leave a Comment (2) →The Employee Provident Fund Organization (commonly referred to as the PF Department), has notified (dated 26-Sep-2016) a form called New Form No. 11. This replaces the earlier Form No. 11 (New). Form No. 11 – what is that for? While many payroll managers know that employees need to submit Form No. 11, not many seem […]
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Leave a Comment (0) →The Ministry of Labour and Employment, Government of India, has amended the Employees’ State Insurance (Central) Rules, 1950 by introducing a new rule called Rule 51B, stated as follows. “51B. In areas where the Act is implemented for the first time, the rates of employer’s and employee’s contribution for the initial twenty-four months from such […]
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Leave a Comment (0) →Someone asked us a question on Form 16 recently. In case an employee has no tax liability and hence no tax is deducted from the employee’s salary, can/should the employer issue Form 16 to the employee? The typical answers we come across are as follows. a. Form 16 cannot be issued to an employee with […]
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This post pertains to a new feature we have introduced in HRWorks, our online payroll software. If you are not a user of HRWorks, this post may not be relevant to you. We have introduced a new feature on HRWorks using which you can create and publish letters to your employees. By letters, we refer […]
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Leave a Comment (0) →The issue An employee changes job in the middle of a year and submits his investment details (for tax saving) to the company he joins. The employee seeks benefits under Section 24 (interest on housing loan), Section 80C etc. of the Income Tax Act, from the new employer. The employee, while in his earlier company, too availed […]
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This post pertains to a new feature we have introduced in HRWorks, our online payroll software. If you are not a user of HRWorks, this post may not be relevant to you. We have introduced a new feature called TaxGenie in HRWorks which can help employees in tax saving. Given the multitude of benefits available […]
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