Compliance Check for Sec 206AB & 206CCA
1. What is the legal framework of ‘Compliance Check for Section 206AB & 206CCA’ functionality? Via Finance Act 2021, Section 206AB and 206CCA are inserted…
File your ESI and EPF returns within the due date to avoid the penalties levied under the acts. We Taxteam leading eminent service providers through Online / Offline mode would help you to file your ESI and EPF returns at just one Call / Mail / Message.
The employees’ State Insurance Act, 1948 aims to provide certain benefits to employees in case of sickness, maternity and employment injury. Every employer to whom the provisions of ESI, Act applies shall remit the ESIC employee and employer contribution on or before 15th of the following month and file the required returns within the due date mentioned under the act. Failure to pay or file the required returns shall attract penalty under the said act.
The employees’ provident funds and miscellaneous provisions act, 1952 aims to encourage savings among employees which would benefit them at the time of their retirement. Every employer to whom the provisions of EPF, Act applies shall remit the EPF employee and employer contribution on or before 15th of the following month and file the required returns within the due date mentioned under the act. Failure to pay or file the required returns shall attract penalty under the said act.
Filing of ESI returns enables the employees and their family to enjoy a wide range of medical benefits.
The pregnant women are provided with maternity benefits.
The contribution made towards EPF is allowed as deduction u/s 80C of the Income Tax Act, 1961 and the Interest earned is exempted from Income Tax.
The employee shall enjoy receipt of lifelong pension under the Employees’ Pension Scheme 1995.
The following documents are required for filing ESI and EPF return,
The attendance maintained at the establishment has to be provided.
The register maintained in Form 6 has to be submitted.
The register of wages to be submitted.
A copy of paid challans to be submitted.
No. Overtime is not a regular payment and it is occasional in nature. Therefore, it should not be included while calculating wages ceiling limit for employee coverage under the act.
The employer shall pay simple interest at the rate of 12% p.a. for each day of delay.
Yes. The Company has to file NIL returns even it doesn’t have any employees.
he wage limit shall be Rs. 21,000/- per month.
Yes. The employee IP i.e. Insured person ID is mandatory for filing the returns.
1. What is the legal framework of ‘Compliance Check for Section 206AB & 206CCA’ functionality? Via Finance Act 2021, Section 206AB and 206CCA are inserted…
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