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The EPFO's top decision-making body is the Central Board of Trustees (CBT), [2] [3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952. [4] As of 2021, more than ₹ 15.6 lakh crore (US$209 billion) are under EPFO management. [5]
Unorganised Workers' Identification Number or UWIN is a proposed unique number to be issued as identity proof to unorganised workers in India. [1] [2] [3]The unorganised workers’ Identification Number is a number provided to the large section of unorganised sector workers by issuing a unique ID and allotting an Aadhaar seeded identification number without issuing any smart cards. [4]
The EPF is intended to help employees from the private sector save a fraction of their salary in a lifetime banking scheme, to be used primarily as a retirement fund but also in the event that the employee is temporarily or no longer fit to work. The EPF also provides a framework for employers to meet legal and moral obligations to their employees.
It is run by the social security body Employees' Provident Fund Organisation (EPFO). In this system, an employee contributes 10% to 12% of his monthly salary here and his employer contributes a matching amount, with a total contribution of 20% to 24% of the employee's gross salary, while the state contributes an additional 1.16%, which makes it ...
Registration of all principal employers who employs or employed directly or indirectly five or more Interstate Migrant Workmen on any day of the preceding 12 months. Maintain the registers indicating the details of interstate workers and make available for scrutiny by the statutory authorities.
Annual contributions qualify for tax deduction under Section 80C of income tax as per the old Tax regime. The tax benefit is capped at ₹1.5 lacs per financial year. PPF falls under the EEE (Exempt, Exempt, Exempt) tax basket. Contribution to the PPF account is eligible for tax benefit under Section 80C of the Income Tax Act in the old Tax ...
20-Feb-1997: Financial Audit and Accounting professions: Institute of Chartered Accountants of India: 1-May-1949: Financial system and monetary policy: Reserve Bank of India: 01-Apr-1935: Mining and Mineral Exploration: Directorate General of Mines Safety(DGMS) 07-Jan-1902: Food Safety: Food Safety and Standards Authority of India: Aug-2011 ...
[4] [5] In March 2007, KWAP was established under the Retirement Fund Act and assumed all powers, functions, activities, assets and liabilities of the Pensions Trust Fund. [ 1 ] [ 5 ] In November 2015, KWAP was appointed as agent to the government for overall pension management and payment operation, taking over this role from the Public ...