Labour Law Compliance in India

  The employees covered under the various schemes of the Act are entitled for the following benefits Employees can take advances or make withdrawals*. PF amount of a deceased member is payable to the nominees or legal heirs. The employer not only contributes towards the PF but also makes the necessary contributions towards the employee’s pension which can be used by the employee post-retirement Under the EDLI Scheme employees are properly insured in order to avail the lump sum benefit at the time of death while in service. EEE (Exempt, Exempt, Exempt) tax benefit under the Income Tax Act enables tax-free returns for the employees. Employees receive special benefits in the form of added income to their savings in the form of interest. PF account can be transferrable if any member changes employment from one establishment to another where such Provident Fund scheme is applicable. Read more about the benefits of  Provident Fund

  Professional Tax If you ever take a look at your payslips you will notice that there is a small deduction mentioned along with all the HRA, conveyance and basic salary break ups. This deduction is generally to the tune of INR 200 or so and is called the professional tax. This tax is generally different for each state and in certain place you may notice that there is no deduction made under this heading. So the question is, what is professional tax? What is Professional Tax? The respective state governments in India levy the professional tax on income from profession or employment. The professionals earning an income from salary or other practices such as a lawyer, teacher, doctor, chartered accountant, etc. are required to pay professional tax. In case of salaried and wage earners, the professional tax is liable to be deducted by the employer from the salary/wages and the same is to be deposited to the state government. In case of other class of individuals, this tax is liable to...

  Provident Fund Employees’ Provident Fund is a statutory benefit payable to employees working in India.  The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952  ("Act") is applicable pan-India. The administration and management of Employees’ Provident Fund (EPF) is carried out by the Central Board of Trustees (CBT) established by the Central Government consisting of representatives of the Government, employers and employees respectively. The Employees’ Provident Fund Organization (EPFO) assists this Board in its activities. Benefits The employees covered under the various schemes of the Act are entitled for the following benefits Employees can take advances or make withdrawals*. PF amount of a deceased member is payable to the nominees or legal heirs. The employer not only contributes towards the PF but also makes the necessary contributions towards the employee’s pension which can be used by the employee post-retirement. Keep reading