For more details, please visit us at: https://www.youtube.com/@AanandLawReporter1976
This video deals with an important judgment titled "THE EMPLOYEES PROVIDENT FUND ORGANISATION & ANR. ETC. vs. SUNIL KUMAR B. & ORS. ETC.” pronounced on 4th Nov 2022 and in this judgment, the Supreme Court has held that the provisions contained in the Employees' Pension (Amendment) Scheme 2014 are legal and valid (EPF Pension Case (2022)). To know more about it, please watch the video fully...
Labour Law
THE EMPLOYEES PROVIDENT FUND ORGANISATION & ANR. ETC. vs. SUNIL KUMAR B. & ORS. ETC.
https://main.sci.gov.in/supremecourt/2019/9610/9610_2019_13_1501_39472_Judgement_04-Nov-2022.pdf
The video content is created by Michael Anand. I (BA., BL) who is the owner of this YouTube Channel titled "Aanand Law Reporter". He has 5 years' experience in Content Management at MLJ (Madras Law Journal) and LLJ (Labour Law Journal) which belong to Lexis Nexis and 2 years' experience at Thomson Reuters...
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How you can get a higher pension from EPFO beyond ceiling limit?Amitava Nag
The document summarizes the provisions around obtaining full pension benefits from the Employees' Pension Scheme 1995. Key points:
1. The scheme originally limited maximum pensionable salary but later allowed option for higher contributions on joint request.
2. Recent court rulings have overturned amendments capping contributions, allowing joint requests to be based on actual salary rather than caps.
3. A joint request form is provided for employees and employers to opt into higher contributions from the scheme's inception in 1995.
The Punjab and Haryana High Court has ordered the Punjab government to pay all pecuniary benefits and arrears of the last three years to the recruitment of 3442 teachers as regular from the initial date of their appointment.
1. The document discusses the eligibility criteria for payment of gratuity under the Payment of Gratuity Act. To be eligible, an employee must have 5 years of continuous service and work in a covered establishment.
2. It outlines the calculation of gratuity which is based on 15 days of last drawn salary for each completed year of service, with a maximum limit of Rs. 10 lakhs.
3. The key obligations of employers are to determine gratuity payable, issue notice to employees, maintain nominations, and pay gratuity within 30 days of becoming eligible. Non-payment can attract penalty, interest and legal action.
This document discusses provident funds, which are mandatory retirement savings schemes jointly established by employers and employees. Key points:
1) Provident funds are long-term savings funds to support employees upon retirement. Both employees and employers contribute a portion of monthly salary, typically 7-15%.
2) Bangladesh law requires permanent employees to contribute 7-8% of monthly salary and employers to match this amount. Contribution rates and rules are also set by individual employers.
3) Upon leaving employment, the total contributions and interest are paid out to the employee from their provident fund account.
The document summarizes the key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. The Act was enacted to provide social security to workers by establishing provident funds, pension schemes, and insurance plans. It applies to establishments with 20 or more employees. Key schemes under the Act include the Employees' Provident Fund Scheme, Employees' Pension Scheme, and Employees' Deposit-Linked Insurance Scheme. The Act also outlines penalties for non-compliance and exemptions. Overall, the document provides an overview of the objectives, coverage, administration, schemes, and penalties associated with the Employees' Provident Funds Act of 1952 in India.
The document is the Payment of Gratuity Act of 1972. It provides a scheme for payment of gratuity to employees in factories, mines, ports and other establishments with 10 or more employees. Some key points:
- Gratuity is payable to employees with 5+ years of continuous service on superannuation, retirement, resignation, death or disablement.
- The maximum gratuity payable is Rs. 10 lakhs as per the latest amendment.
- Employers must obtain insurance from LIC or other insurers to cover their gratuity liability.
- Controlling authorities are appointed to administer the Act.
The document discusses key provisions of the Payment of Gratuity Act 1972 in India. The Act provides for compulsory payment of gratuity to employees in factories, mines, ports and other establishments with 10 or more employees who have worked continuously for at least 5 years. Gratuity is calculated at 15 days wages for each completed year of service. If employment is terminated due to death or disability, gratuity is payable regardless of length of service. The employer must determine gratuity payable and notify eligible employees. Disputes are resolved by the controlling authority through inquiry and allowing both parties a hearing.
Dr Mohan R Bolla Law Lectures -Family pension scheme 1971 Mohanrao Dr. Bolla
1. The document discusses the Family Pension Scheme 1971 and the Employees' Pension Fund. It outlines the provisions around employer and government contributions to the pension fund.
2. It states that 8.33% of an employee's pay will be remitted by the employer to the pension fund each month, and the government will contribute 1.16% of pay. Contributions are calculated to the nearest rupee.
3. The assets of the previous Family Pension Scheme 1971 were transferred to the new Employees' Pension Fund.
How you can get a higher pension from EPFO beyond ceiling limit?Amitava Nag
The document summarizes the provisions around obtaining full pension benefits from the Employees' Pension Scheme 1995. Key points:
1. The scheme originally limited maximum pensionable salary but later allowed option for higher contributions on joint request.
2. Recent court rulings have overturned amendments capping contributions, allowing joint requests to be based on actual salary rather than caps.
3. A joint request form is provided for employees and employers to opt into higher contributions from the scheme's inception in 1995.
The Punjab and Haryana High Court has ordered the Punjab government to pay all pecuniary benefits and arrears of the last three years to the recruitment of 3442 teachers as regular from the initial date of their appointment.
1. The document discusses the eligibility criteria for payment of gratuity under the Payment of Gratuity Act. To be eligible, an employee must have 5 years of continuous service and work in a covered establishment.
2. It outlines the calculation of gratuity which is based on 15 days of last drawn salary for each completed year of service, with a maximum limit of Rs. 10 lakhs.
3. The key obligations of employers are to determine gratuity payable, issue notice to employees, maintain nominations, and pay gratuity within 30 days of becoming eligible. Non-payment can attract penalty, interest and legal action.
This document discusses provident funds, which are mandatory retirement savings schemes jointly established by employers and employees. Key points:
1) Provident funds are long-term savings funds to support employees upon retirement. Both employees and employers contribute a portion of monthly salary, typically 7-15%.
2) Bangladesh law requires permanent employees to contribute 7-8% of monthly salary and employers to match this amount. Contribution rates and rules are also set by individual employers.
3) Upon leaving employment, the total contributions and interest are paid out to the employee from their provident fund account.
The document summarizes the key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. The Act was enacted to provide social security to workers by establishing provident funds, pension schemes, and insurance plans. It applies to establishments with 20 or more employees. Key schemes under the Act include the Employees' Provident Fund Scheme, Employees' Pension Scheme, and Employees' Deposit-Linked Insurance Scheme. The Act also outlines penalties for non-compliance and exemptions. Overall, the document provides an overview of the objectives, coverage, administration, schemes, and penalties associated with the Employees' Provident Funds Act of 1952 in India.
The document is the Payment of Gratuity Act of 1972. It provides a scheme for payment of gratuity to employees in factories, mines, ports and other establishments with 10 or more employees. Some key points:
- Gratuity is payable to employees with 5+ years of continuous service on superannuation, retirement, resignation, death or disablement.
- The maximum gratuity payable is Rs. 10 lakhs as per the latest amendment.
- Employers must obtain insurance from LIC or other insurers to cover their gratuity liability.
- Controlling authorities are appointed to administer the Act.
The document discusses key provisions of the Payment of Gratuity Act 1972 in India. The Act provides for compulsory payment of gratuity to employees in factories, mines, ports and other establishments with 10 or more employees who have worked continuously for at least 5 years. Gratuity is calculated at 15 days wages for each completed year of service. If employment is terminated due to death or disability, gratuity is payable regardless of length of service. The employer must determine gratuity payable and notify eligible employees. Disputes are resolved by the controlling authority through inquiry and allowing both parties a hearing.
Dr Mohan R Bolla Law Lectures -Family pension scheme 1971 Mohanrao Dr. Bolla
1. The document discusses the Family Pension Scheme 1971 and the Employees' Pension Fund. It outlines the provisions around employer and government contributions to the pension fund.
2. It states that 8.33% of an employee's pay will be remitted by the employer to the pension fund each month, and the government will contribute 1.16% of pay. Contributions are calculated to the nearest rupee.
3. The assets of the previous Family Pension Scheme 1971 were transferred to the new Employees' Pension Fund.
Payment of wages act, 1936 and Minimum wages act 1948Harshita Saloni
This document discusses provisions around deductions from wages under the Payment of Wages Act, 1936. It begins by defining wages under Section 7 and what deductions are allowed, including deductions for absence from duty. It provides conditions for when absence can be deemed to allow for deductions - namely when absence is voluntary and without employer permission. It notes the maximum deduction allowed is for 8 days wages if 10 or more employees are absent without notice or reasonable cause. Two court cases are referenced but not described. Overall it provides a high-level overview of allowable deductions from wages under the Payment of Wages Act for absence from duty.
1. The document discusses the key aspects of the Payment of Gratuity Act including who is eligible for gratuity, how gratuity is calculated, procedures for applying and paying gratuity, disputes resolution process, and penalties for non-compliance.
2. Key points include that gratuity is payable to employees after 5 years of continuous service and is calculated as 15 days salary for each completed year of service. The employer must determine and pay gratuity within 30 days of it becoming due and pay interest for delayed payments.
3. The dispute resolution process involves depositing disputed amounts with the controlling authority and appeals can be made within specified timelines. Non-payment of gratuity can attract penalties like imprisonment or
The document provides an overview of the Industrial Employment (Standing Orders) Act, 1946 in India. The key points are:
1) The Act aims to avoid friction between employers and employees in industries by establishing terms of employment and settling labor issues.
2) Standing orders under the Act relate to matters like work hours, holidays, leaves, discipline, and termination that employers must draft and submit for certification.
3) The certification process involves employers submitting draft orders, addressing worker objections, and allowing appeals. Certified standing orders then regulate conditions of employment.
4) The Act specifies procedures for initial submission and certification of orders, modifications, appeals, and penalties for non-compliance. It designates cert
FAQ on SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014GAURAV KR SHARMA
The document contains frequently asked questions and answers regarding SEBI's share based employee benefits regulations.
1. Inventory of shares not allocated to grants must be sold on a stock exchange within 5 years. Appropriating shares to employee benefit schemes by October 27, 2015 will be considered compliant. Companies can allocate to employees or sell in the market over the next 4 years.
2. Independent directors granted stock options before the regulations prohibiting it can still exercise those options if the terms are met. The restriction does not apply to previous grants.
3. The 1-year lock-in period for shares issued under employee stock purchase schemes applies to employees, not the trust distributing the shares.
The document discusses an employer-employee insurance scheme. The scheme provides life insurance for employees to offer benefits and security. It gives employers an incentive to retain experienced workers and reimburse costs of training new employees. Premiums paid by the employer are tax deductible for the business. The scheme requires board approval, power of attorney, individual employee insurance proposals based on medical exams, and timely premium payments.
The Kerala High Court ruled that the Employees' Provident Fund Organisation (EPFO) must calculate and provide pensions based on employees' actual salaries rather than capping the maximum pensionable salary at Rs. 15,000 per month. The court found that capping the salary violated the spirit of the pension scheme and would deprive many retired employees of a decent pension. The Supreme Court later dismissed an appeal by the EPFO, upholding the Kerala High Court's ruling and requiring the EPFO to pay full pensions to private sector employees based on their total salaries rather than a capped amount.
Pensions Act 2014: all you need to knowIus Laboris
Georgina Jones from our UK member Sackers has written this in-depth article on the Pensions Act 2014 in the August edition of PMI Technical News.
Though somewhat overshadowed by this year’s attention-grabbing Budget, the Pensions Act 2014 is a key piece of legislation. Not only does it introduce a new type of state pension and, as a consequence, sweep away contracting-out on a defined benefit basis, but it also contains several important measures for occupational pension schemes.
The Industrial Employment (Standing Orders) Act 1946JFM Lohith Shetty
The document summarizes key aspects of The Industrial Employment (Standing Orders) Act, 1946 in India.
The Act requires employers in industrial establishments with 100+ workers to submit draft standing orders to Certifying Officers covering matters like work hours, leave, termination, and misconduct. Certifying Officers review the draft orders and certify them if provisions cover required matters and conform to the Act. Certified standing orders must be posted and can be modified after 6 months. The Act establishes penalties for non-compliance and gives enforcement authorities civil court powers. It does not apply to certain government-regulated industries and establishments.
The Payment of Gratuity Act of 1972 provides that an employee is entitled to a gratuity payment upon completion of at least 5 years of continuous service with an employer. Gratuity is calculated as 15 days salary (based on last drawn monthly salary) for each completed year of service, subject to a maximum of Rs. 10 lakhs. The Act mandates compulsory insurance for companies with over 100 employees and requires nomination of beneficiaries. It also specifies a 30 day timeline for payment of gratuity and penalties for non-compliance, including interest charges and revenue recovery processes. Disputes regarding gratuity amounts or eligibility can be referred to controlling authorities.
This presentation is prepared by considering various practical aspects and also the issues while implementation of the same at the Corporate level.Mainly the Companies act 2013 is taken into account to understand the basics of ESOPs. It even covers the procedural requirements.
This document provides an overview of the key sections and provisions of the Indian Standing Orders Act, 1946. It summarizes each section of the Act, including:
- The scope and objectives of the Act are to minimize industrial conflict and define employment conditions for workers.
- It requires employers in establishments with 100+ workers to submit draft standing orders to certifying officers for approval.
- The certifying officer evaluates the draft and can modify it before certification. Appeals can be made.
- Once certified, standing orders must be displayed and registered. Modification requires following the same process.
- It establishes penalties for non-compliance and provides powers to exempt establishments. Overall the Act aims to bring uniformity
The IRS issued new guidance allowing employers more flexibility with cafeteria plan election changes. Employers can now permit employees to change elections if their work hours are reduced to less than 30 hours per week or if they enroll in a health plan through the Marketplace. Specifically, employees can drop employer coverage if they gain coverage elsewhere within 60 days of the change. Employers must amend cafeteria plan documents by the end of 2015 to allow these new election changes.
The document summarizes new regulations on flexible working in the UK that took effect in June 2014. It discusses eligibility for flexible working requests, the procedures for making and dealing with requests, potential outcomes like agreeing to new terms or rejecting for a valid reason, and appeals processes. It provides guidance for employers on complying with the regulations in a reasonable manner and avoiding discrimination complaints. The key change discussed is expanding eligibility for flexible working requests beyond those with child or elder care responsibilities.
The document summarizes new regulations on flexible working in the UK that took effect in June 2014. It discusses eligibility for flexible working requests, the procedures for making and dealing with requests, potential outcomes like agreeing to new terms or rejecting for a valid reason, and appeals processes. It provides guidance for employers on complying with the regulations in a reasonable manner and avoiding discrimination complaints. The key change discussed is expanding eligibility for flexible working requests beyond those with child or elder care responsibilities.
This document summarizes the Salary Standardization Law of 2019, which modifies the salary schedule for civilian government personnel and authorizes additional benefits. It standardizes compensation across government agencies to promote excellence and accountability. The law increases salaries in four tranches from 2020 to 2023 and provides bonuses and incentives to reward performance. It applies to all levels of government but excludes military personnel and some government-owned corporations.
The document provides an overview and analysis of the Code on Wages Act, 2019 in India. Some key points:
- The Act aims to consolidate and simplify existing labor laws related to wages, bonuses, and equal remuneration. It subsumes four existing labor laws.
- Key definitions include expanded definitions of "wages" and new definitions of "employee" and "worker." Minimum wages will be revised every five years maximum.
- Provisions address payment of wages, bonuses, and equal remuneration without discrimination. Timelines are provided for wage payments.
- The Code emphasizes compliance over penalties and introduces an Inspector-cum-Facilitator role to advise employers.
- Draft
This document provides frequently asked questions and answers about central civil pensions in India. It covers topics such as which rules govern pensions, who is the pension sanctioning authority, the process for claiming a pension, who authorizes the pension, correcting incorrectly fixed pensions, payment of gratuities, dearness relief, commutation limits and restoration, taxation of pensions, and permitted payment methods. The document is intended to help central government civil pensioners in India understand the pension rules and processes.
This document provides frequently asked questions and answers about central civil pensions in India. It covers topics such as which rules govern pensions, who is the pension sanctioning authority, the process for claiming a pension, who authorizes the pension, correcting incorrectly fixed pensions, payment of gratuities, dearness relief, commutation limits and restoration, taxation, and permitted payment methods. The document is intended to help central government civil pensioners in India understand the pension rules and processes.
This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
Payment of wages act, 1936 and Minimum wages act 1948Harshita Saloni
This document discusses provisions around deductions from wages under the Payment of Wages Act, 1936. It begins by defining wages under Section 7 and what deductions are allowed, including deductions for absence from duty. It provides conditions for when absence can be deemed to allow for deductions - namely when absence is voluntary and without employer permission. It notes the maximum deduction allowed is for 8 days wages if 10 or more employees are absent without notice or reasonable cause. Two court cases are referenced but not described. Overall it provides a high-level overview of allowable deductions from wages under the Payment of Wages Act for absence from duty.
1. The document discusses the key aspects of the Payment of Gratuity Act including who is eligible for gratuity, how gratuity is calculated, procedures for applying and paying gratuity, disputes resolution process, and penalties for non-compliance.
2. Key points include that gratuity is payable to employees after 5 years of continuous service and is calculated as 15 days salary for each completed year of service. The employer must determine and pay gratuity within 30 days of it becoming due and pay interest for delayed payments.
3. The dispute resolution process involves depositing disputed amounts with the controlling authority and appeals can be made within specified timelines. Non-payment of gratuity can attract penalties like imprisonment or
The document provides an overview of the Industrial Employment (Standing Orders) Act, 1946 in India. The key points are:
1) The Act aims to avoid friction between employers and employees in industries by establishing terms of employment and settling labor issues.
2) Standing orders under the Act relate to matters like work hours, holidays, leaves, discipline, and termination that employers must draft and submit for certification.
3) The certification process involves employers submitting draft orders, addressing worker objections, and allowing appeals. Certified standing orders then regulate conditions of employment.
4) The Act specifies procedures for initial submission and certification of orders, modifications, appeals, and penalties for non-compliance. It designates cert
FAQ on SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014GAURAV KR SHARMA
The document contains frequently asked questions and answers regarding SEBI's share based employee benefits regulations.
1. Inventory of shares not allocated to grants must be sold on a stock exchange within 5 years. Appropriating shares to employee benefit schemes by October 27, 2015 will be considered compliant. Companies can allocate to employees or sell in the market over the next 4 years.
2. Independent directors granted stock options before the regulations prohibiting it can still exercise those options if the terms are met. The restriction does not apply to previous grants.
3. The 1-year lock-in period for shares issued under employee stock purchase schemes applies to employees, not the trust distributing the shares.
The document discusses an employer-employee insurance scheme. The scheme provides life insurance for employees to offer benefits and security. It gives employers an incentive to retain experienced workers and reimburse costs of training new employees. Premiums paid by the employer are tax deductible for the business. The scheme requires board approval, power of attorney, individual employee insurance proposals based on medical exams, and timely premium payments.
The Kerala High Court ruled that the Employees' Provident Fund Organisation (EPFO) must calculate and provide pensions based on employees' actual salaries rather than capping the maximum pensionable salary at Rs. 15,000 per month. The court found that capping the salary violated the spirit of the pension scheme and would deprive many retired employees of a decent pension. The Supreme Court later dismissed an appeal by the EPFO, upholding the Kerala High Court's ruling and requiring the EPFO to pay full pensions to private sector employees based on their total salaries rather than a capped amount.
Pensions Act 2014: all you need to knowIus Laboris
Georgina Jones from our UK member Sackers has written this in-depth article on the Pensions Act 2014 in the August edition of PMI Technical News.
Though somewhat overshadowed by this year’s attention-grabbing Budget, the Pensions Act 2014 is a key piece of legislation. Not only does it introduce a new type of state pension and, as a consequence, sweep away contracting-out on a defined benefit basis, but it also contains several important measures for occupational pension schemes.
The Industrial Employment (Standing Orders) Act 1946JFM Lohith Shetty
The document summarizes key aspects of The Industrial Employment (Standing Orders) Act, 1946 in India.
The Act requires employers in industrial establishments with 100+ workers to submit draft standing orders to Certifying Officers covering matters like work hours, leave, termination, and misconduct. Certifying Officers review the draft orders and certify them if provisions cover required matters and conform to the Act. Certified standing orders must be posted and can be modified after 6 months. The Act establishes penalties for non-compliance and gives enforcement authorities civil court powers. It does not apply to certain government-regulated industries and establishments.
The Payment of Gratuity Act of 1972 provides that an employee is entitled to a gratuity payment upon completion of at least 5 years of continuous service with an employer. Gratuity is calculated as 15 days salary (based on last drawn monthly salary) for each completed year of service, subject to a maximum of Rs. 10 lakhs. The Act mandates compulsory insurance for companies with over 100 employees and requires nomination of beneficiaries. It also specifies a 30 day timeline for payment of gratuity and penalties for non-compliance, including interest charges and revenue recovery processes. Disputes regarding gratuity amounts or eligibility can be referred to controlling authorities.
This presentation is prepared by considering various practical aspects and also the issues while implementation of the same at the Corporate level.Mainly the Companies act 2013 is taken into account to understand the basics of ESOPs. It even covers the procedural requirements.
This document provides an overview of the key sections and provisions of the Indian Standing Orders Act, 1946. It summarizes each section of the Act, including:
- The scope and objectives of the Act are to minimize industrial conflict and define employment conditions for workers.
- It requires employers in establishments with 100+ workers to submit draft standing orders to certifying officers for approval.
- The certifying officer evaluates the draft and can modify it before certification. Appeals can be made.
- Once certified, standing orders must be displayed and registered. Modification requires following the same process.
- It establishes penalties for non-compliance and provides powers to exempt establishments. Overall the Act aims to bring uniformity
The IRS issued new guidance allowing employers more flexibility with cafeteria plan election changes. Employers can now permit employees to change elections if their work hours are reduced to less than 30 hours per week or if they enroll in a health plan through the Marketplace. Specifically, employees can drop employer coverage if they gain coverage elsewhere within 60 days of the change. Employers must amend cafeteria plan documents by the end of 2015 to allow these new election changes.
The document summarizes new regulations on flexible working in the UK that took effect in June 2014. It discusses eligibility for flexible working requests, the procedures for making and dealing with requests, potential outcomes like agreeing to new terms or rejecting for a valid reason, and appeals processes. It provides guidance for employers on complying with the regulations in a reasonable manner and avoiding discrimination complaints. The key change discussed is expanding eligibility for flexible working requests beyond those with child or elder care responsibilities.
The document summarizes new regulations on flexible working in the UK that took effect in June 2014. It discusses eligibility for flexible working requests, the procedures for making and dealing with requests, potential outcomes like agreeing to new terms or rejecting for a valid reason, and appeals processes. It provides guidance for employers on complying with the regulations in a reasonable manner and avoiding discrimination complaints. The key change discussed is expanding eligibility for flexible working requests beyond those with child or elder care responsibilities.
This document summarizes the Salary Standardization Law of 2019, which modifies the salary schedule for civilian government personnel and authorizes additional benefits. It standardizes compensation across government agencies to promote excellence and accountability. The law increases salaries in four tranches from 2020 to 2023 and provides bonuses and incentives to reward performance. It applies to all levels of government but excludes military personnel and some government-owned corporations.
The document provides an overview and analysis of the Code on Wages Act, 2019 in India. Some key points:
- The Act aims to consolidate and simplify existing labor laws related to wages, bonuses, and equal remuneration. It subsumes four existing labor laws.
- Key definitions include expanded definitions of "wages" and new definitions of "employee" and "worker." Minimum wages will be revised every five years maximum.
- Provisions address payment of wages, bonuses, and equal remuneration without discrimination. Timelines are provided for wage payments.
- The Code emphasizes compliance over penalties and introduces an Inspector-cum-Facilitator role to advise employers.
- Draft
This document provides frequently asked questions and answers about central civil pensions in India. It covers topics such as which rules govern pensions, who is the pension sanctioning authority, the process for claiming a pension, who authorizes the pension, correcting incorrectly fixed pensions, payment of gratuities, dearness relief, commutation limits and restoration, taxation of pensions, and permitted payment methods. The document is intended to help central government civil pensioners in India understand the pension rules and processes.
This document provides frequently asked questions and answers about central civil pensions in India. It covers topics such as which rules govern pensions, who is the pension sanctioning authority, the process for claiming a pension, who authorizes the pension, correcting incorrectly fixed pensions, payment of gratuities, dearness relief, commutation limits and restoration, taxation, and permitted payment methods. The document is intended to help central government civil pensioners in India understand the pension rules and processes.
This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
Matthew Professional CV experienced Government LiaisonMattGardner52
As an experienced Government Liaison, I have demonstrated expertise in Corporate Governance. My skill set includes senior-level management in Contract Management, Legal Support, and Diplomatic Relations. I have also gained proficiency as a Corporate Liaison, utilizing my strong background in accounting, finance, and legal, with a Bachelor's degree (B.A.) from California State University. My Administrative Skills further strengthen my ability to contribute to the growth and success of any organization.
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordinary And Special Businesses And Ordinary And Special Resolutions with Companies (Postal Ballot) Regulations, 2018
Lifting the Corporate Veil. Power Point Presentationseri bangash
"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
Group Enterprises: In some cases, where multiple corporations are closely related or form part of a single economic unit, courts may pierce the corporate veil to achieve equity, particularly if one corporation's actions harm creditors or other stakeholders and the corporate structure is being used to shield culpable parties from liability.
सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...
EPF Pension Case (2022).doc
1. For more details, please visit us at: https://www.youtube.com/@AanandLawReporter1976
In the crucial judgment titled “THE EMPLOYEES PROVIDENT FUND ORGANISATION & ANR. ETC. vs.
SUNIL KUMAR B. & ORS. ETC.”, pronounced on 4th
Nov 2022, the legality of certain amendments and
modifications made by the Central Government to Employees’ Pension Scheme, 1995 was being
dealt and for which the High Courts of Kerala, Rajasthan and Delhi gave their verdicts in favour of
employees and they are under challenge in appeals before this court. Further, fifty-four writ
petitions were also filed by the employees themselves or on their behalf under Article 32 of the
Constitution seeking invalidation of the notification dated 22nd
August 2014 i.e the Employees'
Pension (Amendment) Scheme 2014. Along with those appeals, these writ petitions were also
addressed.
The supreme court has held that classification of the employees made by the authorities on the basis
of the salary drawn in the 2014 amendment meets the test of reasonable classification
contemplated in Article 14 of the Constitution. The requirement in the scheme for employee’s
contribution to the extent of 1.16 percent for option members is illegal. There is nothing in the
Employees’ Provident Funds and Miscellaneous Provisions Act 1952 which requires payment to the
pension fund by an employee. Section 6A of the 1952 Act also does not have any such stipulation.
Since the 1952 Act does not contemplate any contribution to be made by an employee to remain in
the scheme, the Central Government under the scheme itself cannot mandate such a stipulation.
What is to be considered here is that for the mandatory members, the Central Government
continues to contribute the requisite 1.16 per cent of their salary. For option members, additional
contribution by them is contemplated in order to remain in the scheme. In such a situation, a
legislative amendment of the 1952 Act would have been necessary, providing for contribution to be
made by an employee. To that extent, the provision of the scheme requiring contribution by an
individual employee is ultra vires the parent act.
At the same time, the pension amount to be paid is calculated on projections that the corpus would
include the option employees’ additional contribution of 1.16 percent. This court also cannot
mandate the Central Government to contribute to a pension scheme, in absence of a legislative
provision to that effect. It would be for the administrators to readjust the contribution pattern
within the scope of the statute and one possible solution could be to raise the level of the
employer’s contribution in the scheme. This court shall, however, suspend the operation of this part
of judgment of this court for a period of six months so that the legislature may consider the
necessity of bringing appropriate legislative amendment on this count. For the aforesaid period, the
scheme as it stands shall continue. Till such time, if no such legislative exercise is undertaken, the
duty to contribute 1.16 per cent of the salary shall apply on option members as well. This
contribution shall be adjusted depending on any amendment that may be brought. For the period of
six months, however, the opting employees shall make payment of 1.16 per cent contribution as
stop gap measure. In the event no amendment to the statute or the scheme is made within such
extended time, then the administrators of the fund will have to operate the pension fund for the
option members from out of the existing corpus.
2. The other aspect of the controversy involves changing the method of computation of the
pensionable salary. This change of methodology comes within the power of the Central Government
to modify a scheme under Section 7 of the 1952 Act read with item 10 of the Schedule III to the Act
as also paragraph 32 of the scheme. This alteration of computation is ancillary to determination of
scale of pension along with pensionary benefits and paragraph 32 of the pension scheme specifically
authorises the Central Government to alter the rate of contribution payable under the Scheme or
the scale of any benefit admissible under the scheme. There is a reasonable basis for effecting
change in the computation methodology for determining pensionable salary and this court does not
find any illegality or unconstitutionality in effecting this amendment.
This court finds from Section 17 (A) of the 1952 Act that the investment of the provident fund for the
trust fund are also to be as per the directions of the Central Government. In quashing the circular
dated 31st
May 2017, the Delhi High Court held that the employees of unexempted establishments
and exempted establishments form a homogenous group. Section 6A of the Act also envisages
coverage of employees of exempted establishments under Section 17(6) of the Act within the
pension scheme. Further, Clause 1(3) of the pension scheme contemplates keeping within its fold
the establishments to which the 1952 Act applies. These establishments would include exempted
establishments as well. The employees of exempted establishments are integrated into the pension
scheme and the employees of an exempted establishment should not be deprived of the benefit of
getting option to remain in the pension scheme while drawing salary beyond the ceiling limit, in
situations where similarly situated employees of unexempted establishments can exercise such
option. In the event the scheme is construed in a way which would exclude them, that would lead to
artificial classification of otherwise same categories of employees. Thus, the pension scheme ought
to apply to the employees of the exempted establishments in the same manner as this scheme
applies to the employees of unexempted or regular establishments.
In order to be entitled to the benefits of the pension fund, the employer and the employee,
simultaneously with exercising option in terms of the order of this Court, shall also have to give an
undertaking of transferring the employers’ contribution at the stipulated rate maintained by the
trusts, which shall be equivalent to and not lower than the sum which would have been transferable,
had such fund been maintained by the provident fund authorities. Such transfer shall take place,
immediately after exercise of such option, within such period as may be directed by the
administrators of the pension fund. Further, the dual option, as is contemplated in paragraph 11(4)
of the pension scheme (post 2014 amendment), has to be merged into one. In the event the
employer and employee jointly opt for coverage beyond the salary limit of Rs. 15000/, without giving
an earlier option under the unamended Clause 11(3) of the pension scheme, they would not be
automatically excluded from their right to exercise option under paragraph 11(4) of the scheme,
post amendment.
3. The other condition for enhanced coverage relates to the date within which such fresh option is to
be exercised by a member, which is stipulated to be within a period of six months from 1st
September 2014. It would be legitimate to proceed on the basis that several members did not
exercise such option earlier because of the stand taken by the Provident Fund authorities that
option under proviso to paragraph 11(3) of the scheme (prior to 2014 amendment) has to be
exercised within a specified date, which stand was negated in the decision of R.C. Gupta & Ors. vs.
Regional Provident Fund Commissioner, Employees Provident Fund Organisation & Ors. reported
in [(2018) 14 SCC 809]. The time limit for coverage beyond the ceiling amount should be extended
by a further period of four months from today to enable all the members of the pension fund
drawing more than Rs.6500/to exercise the joint option as contemplated in paragraph 11(4) of the
pension scheme (post 2014 amendment). Once such joint option is exercised, the transfer of fund
from the provident fund corpus to the pension fund shall be effected in terms of the scheme. Thus,
the provisions contained in the notification dated 22nd August 2014 are legal and valid.
Amendment to the pension scheme brought about by the notification dated 22nd August 2014 shall
apply to the employees of the exempted establishments in the same manner as the employees of
the regular establishments. Transfer of funds from the exempted establishments shall be in the
manner as directed. The employees who exercised option under the proviso to paragraph 11(3) of
the 1995 scheme and continued to be in service as on 1st September 2014, will be guided by the
amended provisions of paragraph 11(4) of the pension scheme. The members of the scheme, who
did not exercise option, as contemplated in the proviso to paragraph 11(3) of the pension scheme
(as it was before the 2014 Amendment) would be entitled to exercise option under paragraph 11(4)
of the post amendment scheme. Their right to exercise option before 1st September 2014 stands
crystalised in the judgment of this Court in the case of R.C. Gupta. The scheme as it stood before 1st
September 2014 did not provide for any cut-off date and thus those members shall be entitled to
exercise option in terms of paragraph11(4) of the scheme, as it stands at present. Their exercise of
option shall be in the nature of joint options covering pre-amended paragraph 11(3) as also the
amended paragraph 11(4) of the pension scheme. All the employees who did not exercise option but
were entitled to do so but could not due to the interpretation on cut-off date by the authorities,
ought to be given a further chance to exercise their option. Time to exercise option under paragraph
11(4) of the scheme, under these circumstances, shall stand extended by a further period of four
months. The employees who retired prior to 1st September 2014 without exercising any option
under paragraph 11(3) of the pre-amendment scheme have already exited from the membership
thereof. They would not be entitled to the benefit of this judgment.
4. The employees who retired before 1st September 2014 upon exercising option under paragraph
11(3) of the 1995 scheme shall be covered by the provisions of the paragraph 11(3) of the pension
scheme as it stood prior to the amendment of 2014. The requirement of the members to contribute
at the rate of 1.16 per cent of their salary to the extent such salary exceeds Rs.15000/per month as
an additional contribution under the amended scheme is held to be ultra vires the provisions of the
1952 Act. This court suspends operation of this part of this court’s order for a period of six months.
This court does so to enable the authorities to make adjustments in the scheme so that the
additional contribution can be generated from some other legitimate source within the scope of the
Act, which could include enhancing the rate of contribution of the employers. This court is not
speculating on what steps the authorities will take as it would be for the legislature or the framers of
the scheme to make necessary amendment. For the aforesaid period of six months or till such time
any amendment is made, whichever is earlier, the employees’ contribution shall be as stop gap
measure. The said sum shall be adjustable on the basis of alteration to the scheme that may be
made. This court agrees with the view taken by the Division Bench in the case of R.C. Gupta so far as
interpretation of the proviso to paragraph 11(3) (pre-amendment) pension scheme is concerned.
The fund authorities shall implement the directives contained in the said judgment within a period
of eight weeks, subject to this court’s directions contained earlier in this paragraph.