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HR Training Courses | Certification | Institute In Nagpur | Pace Career Academy

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India's Best HR Practical Training Institute. We provide Payroll Outsourcing training, end to end recruitment process, Corporate Training in India and HR Compliances training with 100% placement assistant. – PowerPoint PPT presentation

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Title: HR Training Courses | Certification | Institute In Nagpur | Pace Career Academy


1
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2
The Employees Provident
Funds and Miscellaneous Provisions Act, 1952
  • You may know it as that annoying, elusive chunk
    of your monthly salary that you arent able to
    spend. So what is it, and where does it go?
  • Employees Provident Fund (EPF) is a retirement
    benefit scheme thats available to all salaried
    employees. This fund is maintained and overseen
    by the Employees Provident Fund Organization of
    India (EPFO) and any company with over 20
    employees is required by law to register with the
    EPFO.
  • Its a savings platform that helps employees save
    a fraction of their salary every month that can
    be used in the event that you are rendered unable
    to work, or upon retirement.
  • When you start working, you and your employer
    both contribute 12 of your basic salary
    (plus dearness allowances, if any) into your EPF
    account .
  • The employer contribution to your EPF is
    tax-free, and your contribution is tax-deductible
    under Section 80C of the Income Tax Act.

3
RATES OF CONTRIBUTION (Provident Fund is
calculated from Basic Salary DA)
Scheme Employee's Contribution Employer's Contribution
Employee Provident Fund (EPF) - A/C 1 12 3.67
Employee Pension Scheme (EPS) - A/C 10 8.33
Administration Charges - A/C 2 0.85
Employee Deposit-Linked Insurance Scheme (EDLI) - A/C 21 0.50
4
Employees State Insurance Act, 1948
  • As the name suggests, it is basically an
    insurance scheme i.e. employee gets benefits if
    he is sick or disabled.
  • Employees who are drawing wages upto Rs. 15,000
    per month come under the purview of the ESI Act
    1948 for multi dimensional social security
    benefits.
  • The rates of contribution are-
  • Employees Contribution 1.75 of wages
  • Employers Contribution 4.75 of wages
  • Various benefits that the insured employees and
    their dependents are entitled to are as follows
  • Medical Benefits, Sickness Benefits, Maternity
    Benefits, Disablement Benefits
  • Dependent Benefits, Other Benefits (like funeral
    expenses, vocational
  • rehabilitation, free supply of physical aids etc

5
Maharashtra Profession Tax Act, 1975
  • The following states impose this levy in India -
    Karnataka, West Bengal, Andhra Pradesh,
    Maharashtra, Tamilnadu, Gujarat, and Madhya
    Pradesh. It is a source of revenue for the
    government.
  • In Maharashtra, this duty is applicable both on
    individuals and companies as laid down by the
    guidelines of the Maharashtra Professional Tax
    Act of 1975. Every individual living in
    Maharashtra, involved in any business,
    profession, occupation or employment is legally
    responsible to pay it and has to get a
    Certificate of Enrolment from the Professional
    Authority.
  • Exemptions
  • Person suffering from permanent physical
    disability.
  • Parents of mentally retarded child.
  • Parents of a child suffering from a physical
    disability.
  • Persons who have completed the age of 65 years.
  • Central Government Employees.

6
The Maharashtra Labour Welfare Fund Act, 1953
  • Applicability
  • Every employee, including employee through
    contractor, but not a managerial capacity or
    supervisor capacity drawing more than 3500/- pm.
  • Contribution
  • Contribution is to be deducted from the salary
    of employees twice in a year i.e. June December
    every year.
  • Penalty
  • The Employer has to maintain the entire record
    against the fund transaction failure to which
    there is a penalty. If the employer is not able
    to produce the records or documents stating
    details of the fund and employee details,
  • The employer may get a three months term or Rs
    500/- fine or both.
  • For subsequent offences, six months term or fine
    of Rs 1000/- or both.

7
About US
  • Pace Career Academy is an ISO 90012008 Certified
    company,
  • we are into market from last 9yrs. We are in HR
    Training, Accounts Training, Taxation Training,
    SAP   IT Training with 100 Placements.
  • We have trained and placed 12000 professionals
    across industry
  • Our trainees are working with 152 companies
  • For More Information visit
  • Or call on 8055505588

http//www.pacecareer.in/
8
  • Thank You
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