Compliance News @Mynd: Telangana minimum wages w.e.f 1st October 2015 to 31st March 2016

Please find enclosed Telangana minimum wages for the period 01.10.2015  to March 31, 2016. 

 http://www.myndsolution.com/statutory-compliances.html

PFB the revised Minimum Wages
Category	Previous Wages			Revised Wages (1.10.2015 to 31.3.2016)
		DA  Points 1169			DA  Points 1185
	Basic	VDA	Total	Basic	VDA	Total
Peon/Attender/ Watchman/ Water Boy/ Helper/ Messenger	3700	4122	7822	3700	4224	7924
Un-Skilled
Weighman/ Kolgari/ Computer Operator	3886	4122	8008	3886	4224	8110
Semi Skilled
Clerk/ Typist/Clerk-cum-Typist/ Godown Incharge/Lineman/ Assistant Salesman/ Asst.Accountant/ Xerox Machine Operator	4102	4122	8224	4102	4224	8326
Skilled
Salesman, Stenographer,Receptionist,Auction Bider, Type Writer Instructor, Electrician, Radio Mechanic, Optical Mechanic, Surfacer, Grinder, Photographer, Photo Artist, Typewriter, Mechanic, T.V.Mechanic, Fitter, Turner, Welder and Plumber, Mason etc.	4520	4122	8642	4520	4224	8744
Highly Skilled
Accountant/ Asst.Manager/ Sales Executive/ Supervisor/ Purchaser/ Store Keeper/ Agent/ Sales Promotion Employees	4722	4122	8844	4722	4224	8946
Manager/ Field Officer/ Development Officer/ Office Incharge/ Computer Programmer	5557	4122	9679	5557	4224	9781

Compliance News @ Mynd: EPFO Introduces new Form 19

We would like to inform  that  EPFO has introduced new Form 19 . With immediate effect, EPFO has stopped accepting withdrawal claims in old form 19. Very soon Form 19 will be available on the EPFO web site .

Attached is the new Form 19 for your reference and necessary action.

Note: The claims which are due for submission has to be filled in new form 19. Also as per the notification all withdrawal claims should be supported by either

·         FORM-NO-15H (for Senior citizen) or

·         FORM-NO-15G (for those below 58 years) and photocopy of Pan card of members 

COMPLIANCE NEWS @ MYND: Amendments in Labour Law

Narendra Modi govt clears proposals to amend Labour Laws. what's the Bill?

Highlights of the proposed amendments

·       The Union Cabinet has approved 54 changes in the Factories Act 1948, the Apprenticeship Act 1961, Labour Laws (Exemption from furnishing returns and maintaining of registers by certain establishments 1988). The Government will now table the proposed amendments in the Parliament and given the majority it enjoys it won't be facing any problem to get them approved.

·         The amendment is expected to allow women for night duty with adequate safety and also ensure provision for transport after work.

·         The proposed amendments also aimed to increase the overtime hours from the current limit of 50 hours per quarter to 100 hours per quarter. With the approval of state government, the amendment also proposes this limit to be increased to a maximum of 125 hours per quarter.

·          Ensuring safer working conditions for employees working in hazardous environment as well as provision of canteen facilities.

·         Factories employing 200 or more workers would have to provide canteen facilities instead of the present provision of 250 workers.

·         It also provides for shelters or restrooms and lunchrooms in factories in which 75 or more workers are employed instead of the present stipulation of 150 workers.

·         The changes also aim to prohibit pregnant women and physically handicapped people from being assigned to machinery-in-motion. Reducing the eligibility for entitlement of annual leave-with-wages to 90 days from the existing 240 days.

The Apprenticeship Act, 1961:

·         Getting rid of the clause that allows arrest of employers for not implementing the Act.

·         Addition of 500 new trades to the list of 238 in the Act.

·         Companies might also be permitted to begin new trades without waiting for the Centre to notify those.

The Factories Act of 1948:

·         Double overtime of workers to 100 hours per quarter from 50 hours per quarter.

·         Ensuring safer working conditions for employees working in hazardous environment

·         Provision of canteen facilities in factories having 75 or more workers.

·         Allow women for night duty with adequate safety and provision for transport after work.

·         Prohibit pregnant women and physically handicapped people from being assigned to machinery-in-motion.

        The Labour Laws Act 1988:

·         Exemption to small firms with up to 40 workers, against 10 currently from filing compliance reports.

·         The Government is also considering amendments to the Child Labour (Regulation and Abolition) Act, 1986, and the Minimum Wages Act, 1948.

What was dropped?

·         The clause allowing employers' imprisoned for not implementing the Apprenticeship Act is to be dropped; Rs 500 fine per shortfall of apprenticeship month to be imposed.

What was added?

·         E-Records to be maintained in electronic media.

·         Contractual workers, daily wagers, agency workers and casual workers also to come under Apprenticeship Act.

·         Companies could add new trades under the Apprenticeship Act without the Centre's approval. 

         Impact of the changes:

·         The changes in Factories Act of 1948 will ensure ease in doing business for companies, enhanced benefits for workers as it will double overtime of workers to 100 hours per quarter and improve workers' safety.

·         More companies will hire apprentices this will boost formal skilling of workers.

·         Small firms will hire more workers and lower regulatory compliance burden.

Why was a need for change in these Acts/Laws?

                                                                                   

·         The prime reason for amendments in these laws is that they have become outdated and redundant. Amendments in these laws will be giant step towards achieving both political as well as economical innovation  in labour reforms. India needs flexible labour laws to ensure freedom from unemployment where as many as 12 million are added to the workforce annually. Labour market reforms will undoubtedly bring down the divide between the formal and informal employment.

·         Changes in labour laws will pave the way for each state to have their own socio-economic background and take decisions to create more jobs within their boundaries.

COMPLIANCE NEWS @ Mynd: Mandatory deposit of contribution through Internet Banking

We are forwarding herewith a copy of circular bearing  No. Bkg. 1(4)2010/Online Remittance/12871 dated 24^th June, 2015 from the Head office of the Employee Provident Fund Organization , New Delhi along with the copy of the order bearing No Bkg. 1(4)2010/Online Remittance/12870 dated 24^th June issued by the Central Provident Fund Commissioner New Delhi in exercise of the powers conferred by section 5 read with sub-section of (1) of section  7 of the EPF&MP Act 1952 has notified amendments in Parts 38(1) and 48 of EPF Scheme, 1952, making it mandatory for employers to pay the statutory contributions through internet banking.

It has also stated that an employer who makes payment of less than Rs. 1 lakh in a particular month as contribution under EPF & MP Act, 1952, and scheme framed thereunder , shall have option to make such payments through physical mode of payment  (bank drafts or bankers cheques or cheques) for transitory period is being considered at appropriate level.

Note: The employers remitting contribution below Rs. 1 lakh per month shall, however, have the option to remit such dues through the internet banking even during the interim period upto September, 2015.

The aforesaid order makes the employer of the establishment covered under the EPF & MP Act, 1952, to comply with the requirements as laid down in the said order. 

http://www.myndsolution.com/

COMPLIANCE NEWS: Submission of Form 11 (new) and seeding KYC details in UAN Portal

We are forwarding herewith a copy of circular dated No. Coord /40(24)2010/DPG Review Meeting/11388 dated 22nd June, 2015 from the Head office of the Employee Provident Fund Organization , New Delhi along with the copy of the order bearing No. Coord /40(24)2010/DPG Review Meeting/11387 issued by the Central Provident Fund Commissioner New Delhi in exercise of the powers conferred on him under para 78(3) of the Employees Provident Fund Scheme, 1952

The gist of the order is also attached herewith for your information and for taking further necessary action in the matter.

The aforesaid order makes the employer of the establishment covered under the EPF& MP Act, 1952, to comply with the requirements as laid down in the saidorder. 

http://www.myndsolution.com/statutory-compliances.html

Compliance News @ Mynd: Amendment in Section-192 A of the IT Act

Please find below the summary of the circular detailing the amendments issued by office of the Central Provident Fund Commissioner on applicability of changes in Finance Act 2015 ( insertion of section 192A regarding the taxation on withdrawal of PF Accumulations). Provisions of the said circular shall take effect from 1^st June 2015. The gist of the circular is being given here under-:

1.   Hither to fore no income tax was deducted on the PF accumulations refunded by the PF authorities on the members leaving employment of their employers.

2.   

      Consequent upon amendments carried out through the Finance Act 2015, effective from 1^st June 2015, Income tax will be deducted by the PF Authorities at the time of payment of PF accumulations to the members in the following cases-;

    Where the payment of accumulated PF balance is more than or equal to Rs. 30,000/-, with service less than five years TDS will be deducted  @ 10% provided PAN is submitted but where the members fails to submit the PAN the TDS will be deducted @ maximum marginal rate i.e. 34.608%.

3.    TDS shall not be deducted in the following cases-:

·    Transfer of PF from one account to another PF account.

·    Termination of service due to ill health of member, discontinuation/contraction of business by employer, completion of project or other cause beyond the control of the member.

·   If employee withdraws PF after a period of 5 years of continuous service , including service with former employer.

·     If PF payment is less than Rs 30,000/- but the member has rendered service of less than 5 years.

·    If employee withdraws amount more than or equal to Rs. 30, 000/-, with service less than 5 years but submits Form 15G/15H along with their PAN.

·     Form 15G and 15H may not be accepted if amount of withdrawal individual and senior citizen (60 years and above) is Rs. 2, 50,000/- and Rs. 3,00,000/- respectively. For format for Form 15G/15 H please refer attached document.

 Form 15H is for senior citizens ( 60 and above) while Form 15 G is for individuals having no taxable income.

Note: The provisions of the circular will not apply to PF Trust of relaxed/exempted establishments to whom provisions as contended Rule 8 ,fourth schedule, Part A- Recognised Provident Funds shall continue to apply.(Extracts already enclosed with the attached circular ).

HR Transaction Services by Mynd

Manage your HR Services with "Mynd"

Employee Lifecycle Management

Mynd has been implementing HR shared services that standardize and centralize the employee life cycle processes like Onboarding, Employee Transfer, Confirmation, Separation Management and HR Helpdesk. Mynd also manages end to end travel and expense claim processing thus ensuring that we are there to support each HR related transaction requirements.

Onboarding Management

The first days and weeks on the job for new employees are critical to their ability to fit in and become as productive as possible, as soon as possible. Onboarding Management ensures that Mynd takes care of all pre and post joining activities of new employees. and deliver the best first few days experience to the new employees joining your organisation. The services include document management, Induction management, employee profile creation on client system or Mynd systems, and coordination for all administration activities such as asset allocation etc.

Employee Database Management

As part of Human Resource outsourcing offering, Mynd also provides the centralized employee database management. A team of professionals trained on different HR systems help in keeping all your employee records up to date. All our Human Resource Outsourcing offerings are supported by weekly and monthly HR Dashboard and analytics which provide meaningful insights to the clients for taking informed decisions.

Employee Movements

Mynd can also manage Employee Transfers and Promotions within any client organisation. This shall include monitoring such transfers, updating the relevant data in the system and keeping a track of the compensation details. Mynd shall also provide an online platform for tracking these movements where required

Separation management

Separation or exit management in itself is a combination of complex sub processes, like No dues clearance, full and final settlement etc. Our team helps you manage all these processes in a timely and hassle-free manner, removing the pain of handling multiple transactions.

HR Helpdesk

Mynd offers a robust HR Helpdesk to manage your employee query providing multiple ways to interact with the employees – web, email and phone, our team of HR process experts provide the best possible solution to all employee queries. A toll free number can also be provided for the client HR helpdesk

http://www.myndsolution.com/

COMPLIANCE NEWS: ESIC Introduces Internet Banking Facility for Employers

We are happy to inform that ESIC has recently introduced Internet Banking (INB) facility for employers. The employers will be able to remit contribution either through net banking or over the counter of SBI branches. 

Now employers can deposit ESI contribution online through 58 banks other than State Bank of India. Earlier, firms were allowed to deposit ESI contributions online through SBI only.

Note:  From 1st May, 2015 onwards, only electronic payment will be accepted in ESIC through online net banking of SBI and 58 major banks.


 You can also visit www.esic.nic.in for more details.

COMPLIANCE NEWS: CHANGES IN DELHI-MINIMUM WAGES....

Please note that there have been changes in the Minimum Wages in Delhi as directed by the LABOUR DEPARTMENT

Please find attached the revised minimum wages notification of Delhi. Minimum Wages has been revised from April 1, 2015.

Changes in KARNATAKA Shops and Commercial Establishment Compliances

                               INDIA STATUTORY COMPLIANCE NEWS

Karnataka Minimum Wages and revised VDA details for Shops and Commercial Establishment effective from 1st April 2015 to 31st March 2016.