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On fake receipts, forged signatures and travelling at the speed of light

April is a relaxed month for payroll folks like us. A much needed quiet period after the hustle and bustle of the last quarter (Jan to Mar) when we put in significant efforts for year-end activities such as investment proof scrutiny and income tax finalization. Pouring over rent receipts, home-loan interest certificates, leave travel bills […]

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Reduction in PF administrative charges

The Ministry of Labour and Employment has reduced the PF administrative charges with effect from 01-Apr-2017. You can read the gazette notification here. The highlights of the notification are as follows. 1. The EPF administrative charge shall be 0.65% of the total PF wage from 01-Apr-2017. The earlier administrative charge was 0.85% (until 31-Mar-2017). Consequently, […]

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Reporting landlord & housing-loan lender PAN in the fourth quarter Form No. 24Q

Reporting landlord & housing-loan lender PAN in the fourth quarter Form No. 24Q

Currently, employees who wish to avail HRA exemption are required to submit the PAN of their landlord(s) to their employer if the aggregate rent payment exceeds Rs 1 lakh in a year. Until FY 2015-16, employers were not required to submit information on landlord PAN to the Income Tax Department. This changed in FY 2016-17. […]

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Taxability of per diem allowance while on business travel

Taxability of per diem allowance while on business travel

Organizations pay what is called per diem (per day) allowance to employees who travel for business purposes. The allowance is meant to help employees cover daily expenses pertaining to food, local travel, etc. When employees travel abroad they receive the allowance in foreign currency. Many organizations do not seek information on the actual daily expenses […]

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PF Electronic Challan cum Return (Version 2.0)

The Employees’ Provident Fund Organization has made significant changes to the processes related to generation of the Electronic Challan cum Return (ECR) file. From now on, the Universal Account Number (UAN) shall be the unique identifier for PF remittance, transfer and withdrawal. The process of using the PF number as the identifier has been done […]

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An employee by any other name

An employee by any other name

What’s in a name? that which we call a rose By any other name would smell as sweet; – William Shakespeare in Romeo and Juliet While it is perfectly legitimate for organizations to hire consultants (along with hiring full-time employees) during the course of business, it is important that the underlying statutory requirements are fully […]

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