New rules for ATMs, pensioners from May 1: Here’s all you need to know
New rules for ATMs, Pensioners can get a full pension
New rules for ATMs, The Employees Provident Fund Organisation (EPFO) can begin giving out full pensions from could to those that opted for commutation at the time of retirement. A commutation is an associate possibility given to pensioners to convert a district of their monthly pension into associate direct payment at the time of their retirement.
The full pension is repaired once your time, fifteen years during this case. the govt., in a Gregorian calendar month, had notified the restoration.
The move can profit 630,000 pensioners each month and can value the govt. Rs one,500 large integer at a time once it’s facing a crunch thanks to the coronavirus happening and therefore the connected nationwide internment.
The retirement pension body has conjointly allowed employers to file monthly provident fund (PF) returns while not creating cooccurring payment of dues, giving relief to concerning half-dozen 100000 corporations amid internment to combat the Covid-19 crisis.
The employer’s square measure presently needed to file PF returns and create a payment of dues at the same time.
The PF returns have details concerning employees’ and employers’ contributions towards the Social Security theme pass by the Employees’ Provident Fund Organisation (EPFO).
Keeping seeable things and to more ease the compliance procedure beneath the staff Provident Funds and Miscellaneous Provisions Act, 1952, the filing of monthly electronic challan-cum-return (ECR) is separated from payment of the statutory contributions rumored within the ECR, it said.
ECR will currently be filed by an associate leader with none would like for cooccurring payment of contributions and contributions is also paid later by the leader once filing the ECR, it added.
The modification can entail convenience to the employers additionally because the staff lined beneath the Act.
Filing of ECR by the leader in time is indicative of the employer’s intent to accommodates norms and can not, therefore, attract penal consequences if the dues square measure paid at intervals the extended time as declared by the govt.
Filing of ECR in time shall facilitate in an exceedingly credit of employer’s and employee’s share of contributions, totaling pure gold of wages by the central government, to EPF accounts of low-wage earners in institutions eligible beneath the Pradhan Mantri Garib Kalyan Yojana package.
In April, the EPFO extended the point in time for filing ECR and creating payment of PF dues for the month of March until it could fifteen. ECR and PF dues payments for March were due on Gregorian calendar month fifteen. Thereafter, the employers were to urge ten days’ grace amount for compliance till Gregorian calendar month twenty-five.
A new system is going to be placed in situ for ATMs to stop coronavirus infection. in step with the new rule, associate ATM is going to be cleansed to form it infection-free once each use. it’s been started in Uttar Pradesh’s Ghaziabad and Tamil Nadu’s city. in an exceeding hotspot, currently the municipal corporation can sanitize associate ATM double every day. If sanitation rules aren’t followed, the ATM chamber is going to be sealed.