TDS on Provided Fund

Provisions related to TDS on withdrawal from Employees Provident Fund Scheme, 1952(FORM No. 19)No TDS in respect of the following cases:- Transfer of PF from one account to another PF account. Termination of service due to Ill health of member /discontinuation of Business by employer/completion of project/othercause beyond the control of member.  If employee … Read more

Document Required for PF Registration

Document Required for Provided Fund Registration – Memorandum & Articles of Association/ Trust Deed – [For Companies/ Trust]– Incorporation Certificate – [For Companies]– Partnership Deed – [For Partnership Firm]– Certificate under Bombay Shop & Establishment Act, 1948– 1st Bill or Invoice of Sale or Purchase or Opening Ceremony Card – PAN Card– Premises Ownership Agreement/ … Read more

Reduction of Administrative Charges of EPF from 1.10% to 0.85 %

MEBUDGET-15 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HPCG EXCEL TALLYReduction of Administrative Charges of EPF from 1.10% to 0.85 % 01.01.2015.on Wednesday, March 25, 2015Recently The Ministry of Labour and employment government of India has issued notification to revise the rate of administrative charges under the EPFS. The changes are … Read more

Employees Under the Employees Provident Fund (EPF) to be Provided Two options

The Union Finance Minister Shri Arun Jaitley has announced that with respect to Employees Provident Fund (EPF), the employee needs to be provided two options. Firstly, the employee may opt for EPF or the New Pension Scheme (NPS).  Secondly, for employees below a certain threshold of monthly income, contribution to EPF should be optional, without affecting … Read more

Salary Sheet & PF PT Calculation & Challan in Excel

Income earned by an individual can be broadly classified under 5 distinct heads and taxed according to the Income tax rules governing them. The 5 heads of income are: Salary IncomeIncome from house propertyBusiness or Professional IncomeCapital GainsOther Income We shall discuss in detail the first head of income namely Salary Income and how is tax calculated … Read more