TalEzine May '18

Compliance Calendar for May, 2018

Due Date States Existing Rules Mode
10th May '18 Andhra Pradesh,Telangana & Madhya Pradesh State-wise regulations By Challan
15th May '18 Gujarat Gujarat PT regulations By Challan
20th May '18 Karnataka Karnataka PT regulations By Challan & online
21st May '18 West Bengal West Bengal PT regulations Online
28th May '18 Assam & Orissa State-wise regulations Online
28st May '18 Maharashtra Maharashtra PT regulations By Challan
31st May '18 Tamilnadu & Kerala State-wise regulations By Challan
PF Central
15th May '18 Remittance of Contribution Epf & MP Act, 1952 Online
ESI Central
15th May '18 Remittance of Contribution (Main code and Sub codes) ESIC Act, 1948 Online
TDS
7th May '18 TDS Payment Income Tax Act, 1961 Online
Worker Welfare Fund Remittances
5th May '18 Kerala (Worker Welfare Fund Act) Kerala State Worker Welfare Fund Online

Standard deduction allowed on pension from former employer

The Centre has clarified that taxpayers who receive a pension from their former employer are entitled to standard deduction benefit announced in this year’s budget.

They can claim a deduction of Rs 40,000 or the amount of pension, whichever is less, as a deduction, an official release said. This facility of standard deduction is available as the pension received by a taxpayer from his former employer is taxable under the head “salaries”, the release added.

Online modes in case of the settlement amount is above Rs.10.00 lacs - Revised instructions

The EPFO, in February 2018, had made it compulsory to file online claims for provident fund withdrawals above Rs 10 lakh. Similarly, it also made mandatory to file online claims for withdrawals of Rs 5 lakh under the Employees’ Pension Scheme (EPS).

Reversing its earlier decision, the Employees Provident Fund Organization (EPFO) has decided to accept PF withdrawal claims above Rs 10 lakh submitted offline via physical forms. Hence the Claims above Rs 10 lakh don't have to be filed online.

Retirement fund body EPFO or Employees' Provident Fund Organization has recently revised some of its rules related to provident fund claims, considering the grievances raised by members, this stipulation will be kept in abeyance so that offline claims will also be accepted in all cases.

Pradhan Mantri Rojgar Protsahan Yojana- GOI will pay the full employer's contribution 12%

The EPFO has intimated an amendment to the guidelines of Pradhan Mantri Rojgar Protsahan Yojana. As per the amendment to the guidelines, the Government of India will pay the full employer's contribution 12% (EPF & EPS both) w.e.f. 1st April 2018 for a period of three years to the new employees and to the existing beneficiaries for their remaining period of three years through EPFO. The last date of registration of the beneficiary through establishment is 31st March 2019.

Election to Karnataka Assembly - Declaration of paid holiday on Polling Day

Election to State Legislature Assembly is scheduled to be held on 12.5.2018 which falls on Second Saturday. Every person employed in any business trade, industrial and taking or any other establishments and entitled to vote at an election to the house of the people or Legislative Assembly of the State shall on the day of polling be granted a holiday. There shall be no deduction or abatement of wages of any such persons on account of holiday granted for polling day. Contravention of this statutory provision shall be punishable with fine which may be extended to Rs.500/-. This statutory provision will not apply to any elector whose absence may cause any danger or substantial loss in respect of the employment in which he is engaged.

The Parliamentary panel finalises the report on Wage Code Bill

Labour Minister Santosh Gangwar today said a parliamentary standing committee has finalized its report on first labour code, Wage Code Bill 2017, and the legislation would be pushed for passage in the monsoon session of Parliament after the document is submitted.

The law will enable the central government to set benchmark minimum wages for different regions across the country. The bill's provision provides that states cannot set minimum wages below the benchmark set by the Centre.

Minimum debt investment of EPF funds reduced

The Government has reduced the minimum investment floor mandated for debt securities and term deposits of banks to 20% from the existing 35%. This means that EPFO now has greater flexibility in investing your EPF in debt.This move may be aimed at allowing EPFO to reduce exposure to risky corporate debt when investing your EPF money. The circular making this change was issued on February 23.

Instrument Current instrument pattern (since April 1, 2015)
Government securities Minimum 45% and upto 50%
Debt securities and term deposits of bank Minimum 35% and upto 45%
Money market instruments Upto 5%
Equity and equity-related instruments Minimum of 5% and upto 15%
ETFs/Index funds ETFs/Index funds and derivatives are part of limits set for equity and equity-related instruments
Asset backed securities, units of real estate/infrastructure investment trusts Upto 5% limit

AP Minimum Wages:

EMPLOYMENT IN SECURITY SERVICE FOR THE PERIOD OF APR 2018 TO SEP 018

Minimum rates of wages per Month
Classes of employees ZONE I ZONE II ZONE III
Basic VDA Total Basic VDA Total Basic VDA Total
Highly Skilled Security Supervisor, Security Officer, Field Officer 7500.00 4522.50 12022.50 6500.00 4522.50 11022.50 5000.00 4522.50 9522.50
Skilled Security Inspector, Assistant Security Officer, Intelligence and Fire Fighting Personal, Head Guard 7000.00 4522.50 11522.50 6000.00 4522.50 10522.50 4500.00 4522.50 9022.50
Semi-Skilled Assistant Security Inspector, Security Guards with Arms 6500.00 4522.50 11022.50 5500.00 4522.50 10022.50 4250.00 4522.50 8772.50
Un-Skilled Security Guards without Arms 5000.00 4522.50 9522.50 4250.00 4522.50 8772.50 4000.00 4522.50 8522.50
Minimum rates of wages per Month
Classes of employees ZONE I ZONE II ZONE III
Basic VDA Total Basic VDA Total Basic VDA Total
Highly Skilled Security Supervisor, Security Officer, Field Officer 288.46 173.94 462.40 250.00 173.94 423.942 192.31 173.94 366.25
Skilled Security Inspector, Assistant Security Officer, Intelligence and Fire Fighting Personal, Head Guard 269.23 173.94 443.17 230.77 173.94 404.71 173.08 173.94 347.02
Semi-Skilled Assistant Security Inspector, Security Guards with Arms 250.00 173.94 423.94 211.54 173.94 385.48 163.46 173.94 337.40
Un-Skilled Security Guards without Arms 192.31 173.94 366.25 163.46 173.94 337.40 153.85 173.94 327.79

Central Minimum Wages:

Minimum Wages for Agriculture w.e.f. 1st April 2018
Category of Employees Area A Area B Area C
Unskilled 352 321 318
Semi-Skilled/ Unskilled Supervisory 385 354 325
Skilled 418 385 353
Highly skilled 463 430 385
Clerical 418 385 353
Minimum Wages for Agriculture w.e.f. 1st April 2018
Category of Employees Above Ground Below Ground
Unskilled 370 462
Semi-Skilled/ Unskilled Supervisory 462 553
Skilled 553 645
Highly skilled 645 722
Minimum Wages for Construction or Maintenance of Roads & Runways w.e.f. 1st April 2018
Category of Employees Area A Area B Area C
Unskilled 553 462 370
Semi-Skilled/ Unskilled Supervisory 612 522 433
Skilled 673 612 522
Highly skilled 732 679 612
Clerical 673 612 522
Minimum Wages for Employment of Watch and Ward w.e.f 1st April 2018
Area Minimum wages per day
Without arms (Skilled)
A 679
B 612
C 522
With arms (Highly Skilled)
A 732
B 673
C 612
Minimum Wages for Employment of Sweeping and Cleaning excluding activities prohibited under the Employment of Manual Scavengers and Construction of Dry Latrines (Prohibition) ACT 1993. w.e.f. 1st April 2018
Area Minimum wages per day
A 553
B 462
C 370
Minimum Wages for Loading and Unloading w.e.f. 1st April 2018
Area Minimum wages per day
A 553
B 462
C 370
Minimum Wages for Stones Mines w.e.f. 1st April 2018
Nature of Piece Work done by an employee Minimum wages
Excavation and removal of over burden with 50 meters lead/1.5 meters left  
a Soft soil 372
b Soft soil with rock 561
c Rock 743
Removal and stacking of rejected stones with 50 meters lead/1.5 meters left 299
a 1.0 to 1.5 inches 2293
b Above 1.5 Inches to 3.0 Inches 1961
c Above 3.0 Inches to 5.0 Inches 1150
d Above 5.0 Inches 944