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The central board of trustees of the Employees’ Provident Fund Organisation on Saturday approved the EPFO Amnesty Scheme 2024, encouraging employers to voluntarily disclose and rectify past non-compliance or under-compliance without facing penalties, a move aimed at fostering employment generation under the employment-linked incentive scheme.
Read more at: The Economic Times
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Any company having capital less than 10 cr and turnover less than 100 cr will be a small company now.
The Employees’ Provident Fund Organization (EPFO) has recently introduced key updates to the Employees’ Deposit Linked Insurance (EDLI) scheme. These revisions were approved during the 237th meeting of the Central Board of Trustees (CBT), chaired by Union Labor Minister Mansukh Mandaviya. CBT has recommended an 8.25 per cent annual interest rate for EPF subscribers.
The government of Kerala has urged the 16th Finance Commission to increase its share of the divisible tax pool from the 41 per cent recommended by the 15th Finance Commission to 50 per cent.