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“EPFO Removes Aadhaar as Proof of Date of Birth: Navigating Changes in Identity Verification”

“EPFO Removes Aadhaar as Proof of Date of Birth: Navigating Changes in Identity Verification” Compliances

Jan 252024

Introduction:

Introduce the recent circular issued by the Employees’ Provident Fund Organization (EPFO) and the corresponding directive from the Unique Identification Authority of India (UIDAI). Highlight the significance of this decision in the context of identity verification and the legal landscape. This information sheds light on an important change regarding the acceptance of Aadhaar as proof of date of birth.

The key points of the analysis are:

UIDAI’s Directive (Circular No. 08 of 2023):

Aadhaar is not recognized as proof of date of birth according to the Aadhaar Act, 2016.
UIDAI emphasizes that Aadhaar provides identity verification, not proof of birth.

EPFO Circular and Implementation:

EPFO, in response to UIDAI’s directive, removes Aadhaar from the list of acceptable documents for correcting the date of birth. The decision is reflected in Table-B of Annexure-1 of the Joint Declaration SOP issued earlier. The circular is approved by the Central Provident Fund Commissioner (CPFC).

Legal Implications and UIDAI’s Clarifications:

The UIDAI’s circular refers to the Aadhaar Act, 2016, and regulations governing enrolment and update processes. The Aadhaar Act and an office memorandum from December 20, 2018, explicitly state that Aadhaar is not proof of date of birth. Recent judgments, including one from the Bombay High Court, reinforce that Aadhaar cannot be considered as proof of birth.

Communication to AUAs/KUAs:

UIDAI’s directive is communicated to all Authentication User Agencies (AUAs) and Know Your Customer User Agencies (KUAs) through Circular No. 08 of 2023. EPFO’s circular is directed to all ACC (Zones), RPFC (Regional offices), and Office in charge of ROs for widespread implementation.

Necessary Modifications:

The Internal System Division (ISD) is directed to make necessary modifications in the application software to align with the updated guidelines.

Conclusion:

The removal of Aadhaar as proof of date of birth by EPFO aligns with UIDAI’s directive and the legal stance on Aadhaar’s limitations. This change emphasizes the role of Aadhaar in identity verification rather than proof of birth, and it highlights the importance of accurate documentation in the context of identity verification. Entities involved in date of birth corrections within EPFO should be aware of and adhere to these changes to stay compliant with the latest regulatory updates. This information provides a comprehensive overview of the situation and its implications for EPFO members and other stakeholders.

Circular Download:-

EPFO Removes Aadhaar as Proof of Date: Navigating Charges in Identity Verification 👈 DOWNLOAD

Courtesy by: PCS Consultancy

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Public Holiday declared in New Delhi from 8th September to 10th September 2023.

Public Holiday declared in New Delhi from 8th September to 10th September 2023. Compliances

Aug 252023

Delhi Chief Minister Arvind Kejriwal approves the proposal to declare a public holiday from 8 to 10 September in Delhi, given the G20 summit. All schools, and govt offices including MCD offices will be closed on these dates. All schools, offices of the city government and the Municipal Corporation of Delhi, and private offices will now remain closed during the three days.

According to the proposal approved by the chief minister, all commercial and business establishments, including banks and financial institutions, located within the jurisdiction of the New Delhi police district will also remain closed from September 8 to 10.

On account of the Public holiday, all employees will be marked present, and no cut in pay or Loss of pay no adjustment of leaves.

DOWNLOAD THE DETAILS!

1) Public Holiday Circular Delhi: DOWNLOAD
2) Govt Office Closed Circular: DOWNLOAD

Sources by: PCS CONSULTANCY SERVICES

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EPFO declares 8.15% as EPF interest rate for FY 2022-23.

EPFO declares 8.15% as EPF interest rate for FY 2022-23. Compliances

Jul 252023

EPF Interest Rate

EPF is a retirement benefits scheme under the Employees Provident Fund and Miscellaneous Act, 1952, where an employee must pay a particular contribution towards the project, and an equal contribution is paid by the employer as well on a month-on-month basis. The Scheme is managed by Employee Provident Fund Organization (EPFO).

Current & historical EPF Interest Rates

The Interest rate of EPF is reviewed every year after consultation with the Ministry of Finance by the EPFO Central Board of Trustees. The PF interest rate of 2023 is fixed at 8.15%. Provident fund Interest rates for the last five years are mentioned below:

Year EPF	Interest Rate
2016-2017	8.65%
2017-2018	8.55%
2018-2019	8.65%
2019-2020	8.65%
2020-2021	8.55%
2021-2022	8.55%
2022-2023	8.15%

EPF Interest Rates 2022-23

The interest rate on EPF is reviewed on a yearly basis. The EPF Interest rate for the fiscal year 2022-23 is 8.15%. When the EPFO announces the interest rate for a fiscal year and the year closes, the interest rate is computed for the month-by-month closing balance and then for the entire year.

The year in which the new interest rates are published remains valid for the following fiscal year, i.e., from the year beginning on April 1st of one year to the year ending on March 31st of the following year. Here are a few key points to remember about EPF Interest Rate:

The interest rate of 8.15% has come into effect and will be applicable to EPF deposits made between April 2022 and March 2023.

Even though the interest is calculated monthly, it is only deposited to the Employees’ Provident Fund account once a year on March 31st of the applicable fiscal year.

The transferred interest is added to the next month’s balance, i.e., April’s balance, and is then used to calculate interest.

If no contributions are made to an EPF account for 36 months in a row, the account becomes dormant or inoperative.

Employees not reached retirement age might earn interest on their inactive accounts.

Interest is not paid on funds put in retired employees’ inactive accounts.

The interest collected on dormant accounts is taxed at the member’s slab rate.

The employee will not receive any interest in payments made by the company to the Employee’s Pension Scheme. However, beyond the age of 58, a pension is provided out of this amount.

Declaration Rate of Interest INV 240720231: Download

Sources by: PCS CONSULTANCY SERVICES

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Exemption to all Shops & Establishments for operating 24/7 in the Telangana State.

Exemption to all Shops & Establishments for operating 24/7 in the Telangana State. Compliances

Apr 192023

The Government of Telangana hereby issues guidelines for granting exemption from section 7 (Opening and Closing hours) of the Telangana Shops And Establishments Act, 1988 to all Shops & Establishments as defined in section 2 (21) of the Telangana Shops & Establishments Act, 1988 for operating 24/7 in the Telangana State, subject to the following conditions namely:-

(i) Issue of ID cards,

(ii) Weekly off,

(iii) Weekly working hours,

(iv) Overtime wages,

(v) Compensatory holiday with wages in lieu of employees attending duty on a notified national /festival holiday,

(vi) Adequate safety of Women employees,

(vii) Consent of women employees to work in night shift,

(viii) To and from transport from Women employees working in night shift,

(ix) The Management shall maintain the records and furnish returns as prescribed by the State Government within time,

(x) Subject to compliance with provisions under the Police Act & Rules in force, and

(xi) Subject to payment of an annual fee of Rs.10,000/- (Rupees ten thousand only) for each store to open 24×7 under the Telangana Shops And Establishments Act, 1988.

The relevant official notification is attached for your kind reference,

Guidelines on the exemption from opening and closing hours of Telangana Shops and establishments act:- DOWNLOAD

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Central Minimum Wages from 1st April 2023 to 30th September 2023.

Central Minimum Wages from 1st April 2023 to 30th September 2023. Compliances

Apr 132023

Please find attached herewith Central Minimum Wages rates w.e.f. 01/04/2023 to 30/09/2023.
Kindly comply accordingly from April 2023.

Check out the below attachment

Central Minimum Wages from 1st April 2023 to 30th September 2023.

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Maharashtra Profession tax amendment 2023.

Maharashtra Profession tax amendment 2023. Compliances

Apr 102023

Govt of Maharashtra notifies Maharashtra State Tax on Professions, Trades, Callings, and Employments (Amendment) Bill, 2023 to notify changes in Profession Tax Rates w.e.f. 01.04.2023. One notable change is that bill exempts the professional tax payable by the women who draw the monthly salary or wages up to rupees twenty-five thousand w.e.f. 01.04.2023.

(1) This Act may be called the Maharashtra State Tax on Professions, Trades, Callings, and Employments (Amendment) Act, 2023. (2) It shall come into force on the 1st of April 2023. 2. Amendment of section 27A of Mah. XVI of 1975. In Section 27A of the Maharashtra State Tax on Professions, Trades, Callings, and Employments Act, 1975.

AS PER L. A. BILL No. XIII OF 2023 OF MAHARASHTRA GOVT DATED 20th MARCH 2023 MADE FOLLOWING AMENDEMENTS.

(1) This Act may be called the Maharashtra State Tax on Professions, Trades, Callings, and Employments (Amendment) Act, 2023.

(2) It shall come into force on the 1st of April 2023

Revised Slab from 1st Apr 2023.

(i) In the case of men, whose monthly salaries or wages,–

a) Upto 7500 – NO Profession Tax.

b) >7500 but less than 10,000 – 175/- Per Month.

c) >10,000 – 200/- Per Month (In Feb Month-300).

(ii) in the case of women, whose monthly salaries or wages,–

a) Salary < 25,000: No Profession Tax.

b) Salary > 25,000 : 200/- Per Month (In Feb Month-300).

Gazette Copy:- 👇

Mah-PT-Amdmt-Act-2023

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EPFO fixes Interest Rate for 2022-23 @8.15% pa.

EPFO fixes Interest Rate for 2022-23 @8.15% pa. Compliances

Apr 052023

The 233 meeting of the Central Board of Trustees, EPF was held today in Delhi under the Chairmanship of Shri Bhupendra Yadav, Union Minister for Labour & Employment and Environment, Forest & Climate Change. The Vice-Chairmanship of Shri Rameshwar Teli, Union Minister of State for Labour & Employment, Petroleum & Natural Gas and Co-Vice-Chairpersonship of Ms. Arti Ahuja, Secretary Labour & Employment and the Member Secretary Smt. Neelam Shami Rao, Central P F Commissioner was also present during the meeting.

The Central Board recommended an 8.15 % annual rate of interest to be credited on EPF accumulations in members’ accounts for the financial year 2022-23. The interest rate would be officially notified in the government gazette after approval of the Ministry of Finance, following which EPFO would credit the rate of interest into its subscribers’ accounts.

Here are a few key points to remember about EPF Interest Rate:

● The interest rate of 8.15% has come into effect and will apply to EPF deposits made between April 2022 and March 2023.

● Even though the interest is calculated monthly, it is only deposited to the Employees’ Provident Fund account once a year on March 31st of the applicable fiscal year.

● The transferred interest is added to the next month’s balance, i.e. April’s balance, and is then used to calculate interest.

● If no contributions are made to an EPF account for 36 months in a row, the account becomes dormant or inoperative.

● Employees who have not reached retirement age might earn interest on their inactive accounts.

● Interest is not paid on funds put in retired employees’ inactive accounts.

● The interest collected on dormant accounts is taxed at the member’s slab rate.

● The employee will not receive any interest for payments made by the company to the Employee’ Pension Scheme. However, beyond the age of 58, a pension is provided out of this amount.

Please take note of the same.

DOWNLOAD: The Central Board Trustees (CBT) EPF recommends an 8.15 % rate of interest to EPF subscribers for FY2022-23.

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