Newsletter

Employee Provident Fund Organization (EPFO) has launched new facility under which an employee can merge all their earlier PF accounts with their current UAN number without employer intervention.

Once you activate the UAN member portal with your UAN ID and mobile number, you can link all PF account to one UAN by going through the link: MIS portal Login>UAN>Previous EPF account linking option.

This facility is to ensure that multiple accounts are merged and consolidated into one UAN as soon as possible.

To read more, click here (pdf).

Note: The above functionality would be available in the EPF portal once the details are implemented.

In the meeting on fraud analysis and management in EPFO held on 8 December 2017, it was decided to follow the process below in order to correct the date of birth of members of the Employees’ Pension Scheme 1995:
 

• In case the correction required in the date of birth is up to plus or minus one year, Aadhaar will be accepted as a valid document for date of birth.
• In case the correction required in the date of birth is more than one year, then in addition to Aadhaar, other valid documents will have to be submitted (such as matriculation certificate, certificate issued by Registrar (Birth), passport etc).

The concerned member should be intimated for submission of additional valid proof of birth, if required, while applying online/mobile/offline.

To read more, click here (pdf).

Currently, there are many accounts that have not been linked to Aadhaar and these account holders cannot claim the benefit of online services. With the objective of improving service delivery relating to settlement of claims, the below guidelines has been provided.

In this context, a Standard Operating Procedure (SOP) has been released which contains checkpoints. The SOP states that the claimant should submit cancelled cheque in original (containing claimant’s name, bank account number & IFS code of the bank branch printed on it) with all type of claims. In case the bank account of the claimant is ‘without cheque facility’, then the claimant has to submit copy of bank passbook duly attested by the bank authorities where the bank account is maintained or by the employer.

These changes are to come into force with immediate effect.

To read more, click here (pdf).

The due date for monthly return for exempted establishments was stipulated for the wage month of March 2017 and was required to be filed by 15th of May 2017. In the supersession of the above circular, all the exempted establishments/employers were directed to file the statutory online returns in time i.e. on or before the 25th of the month following that to which it relates.

Refer the below example for further explanation:

• The monthly return i.e. Parts C, D & E for the wage month of March 2017 should be filed by 25th April 2017.
• The annual return i.e. Part F for the financial year 2016-17 ending on 31st March 2017 should be filed by 25th April 2017.
• Although details of Establishment and Trust i.e. Part A & B may not change every month/year, whenever any change in these details take place during the wage month then Part A or B, as the case may be, should be changed by 25th of the month following the wage month.

To read more, click here (pdf).

‘Know your Taxes - Updates on Investment Declaration and Tax Exemption’

Taxes are ever-changing, and keeping track of them can sometimes be cumbersome. As you get ready to declare your investments, we wish to make your job a little easier with our free webinar titled Know your Taxes - Updates on Investment Declaration and Tax Exemption.

The recording of the webinar is now available for viewing (video below).