Categories
Payslip Sender Payslip Sener

How to send payslip via email to employee from excel

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Categories
NSC Interest Calculator

NSC Interest Calculator – National Saving Certificate Interest Calculator in Excel 2020-21 – 2021-22

Download NSC Interest Calculator in Excel for deduction under section 80C of Income Tax Act, 1961. Interest earned on NSC purchased of last 5 years is taxable in hand of assesses and it also deductible under section 80C up to limit of section ( currently 80 max. limit is 150000).

 

What is the National Saving Certificate (NSC)?

National Savings Certificate NSC scheme is a fixed income scheme. It is one of the popular savings instruments in India. One can activate this scheme at any Post Office. NSC scheme is the Government of India initiative. Hence it guarantees returns. This savings bond encourages small and mid-income investors to save. Additionally, they can also get a tax benefit. NSC investments up to Rs 1.5 lakhs is exempt from tax under Section 80C of the Income Tax Act. They come with a lock-in period of 5 years. NSC certificates earn fixed interests. The current rate of interest is 6.8%. Like other fixed-income products PPF and Post Office FDs, NSC is also a secure and low-risk instrument. The minimum deposit is Rs 100. There is no maximum limit for investment in NSC. There is no TDS for NSC investments. 

Download NSC Interest Calculator

Categories
Payroll

Atmanirbhar Bharat Rozgar Yojana: Contribution of Government to Provident Fund Members.

On November 12th 2020, Union Finance Minister Nirmala Sitharaman announced another set of stimulus measures under the Atmanirbhar Bharat Abhiyaan 3.0 scheme to incentivize jobs creation in the country. The benefits of this scheme will be given to all the Establishments registered with the Employee Provident Fund Organization (EPFO) and which employ new employees or give employment to those who lost jobs between March 1 2020 and September 30 2020 due to covid-19.

Who are eligible to obtain the benefit?
This scheme is a contribution to the PF account of employees who have lost jobs during the period from March 1st 2020 to September 30th 2020 and subsidy to the establishment.
Under this scheme government will contribute provident fund (employers and employees share at the rate of 12 per cent of wages) for two years to organizations with employee strength less than 1000.
For those companies which are having the strength more than 1,000 employees, the government will provide only employee’s contribution at the rate of 12 per cent of wages.
The benefit will be provided to only those employees with wages less than ₹ 15,000 per month. The subsidy in the form of PF contributions will be directly credited into the Aadhaar-seeded EPF account (UAN) of the employee.

Points to be consider for getting the PF subsidy
Establishments with less than 50 employees must recruit at least two new employees and organizations with more than 50 employees must employ at least five new employees.
The month of September will be considered as the base for the scheme. For organizations with up to 1,000 employees who earn up to Rs 15,000 per month and are registered under EPFO, the 12% contribution of the employees and 12% from the employer – amounting to a total 24% will be borne entirely by the central government.

When the scheme will be become effective?
The scheme will be in effect from 1 October 2020 and 30 June 2021, meaning new employment has to take place between this period.

Categories
Minimum Wage Payroll

Revised Minimum Wages of Delhi w.e.f 1st April 2020 and 1st October 2020.

The Delhi government has enhanced monthly dearness allowance for its unskilled, semi-skilled, skilled and other category workers.

The revised minimum wages, including the dearness allowance (DA), will be applicable to unskilled, semi-skilled and skilled categories in all scheduled employments, from April 1st 2020 and October 1, 2020 respectively.

Consider below the chart displaying the amended wage rates of all the categories of workers.

CategoryRate Vide Notification dated 22/09/2019D.A.(PM) W.e.f April 1st 2020Total per month W.e.f April 1st 2020Total per Day W.e.f April 1st 2020D.A.(PM) W.e.f October  1st 2020Total per month W.e.f October 1st 2020Total per Day W.e.f October 1st 2020
Unskilled14,842.00₹ 468.00 15,310.00 589.00 182.00 15,492.00 596.00
Semi-skilled 16,341.00 520.00 16,861.00 649.00 208.00 17,069.00 657.00
Skilled 17,991.00 572.00 18,563.00 714.00 234.00 18,797.00 723.00
Clerical and supervisory staff – Non Matriculate 16,341.00 520.00 16,861.00 649.00 208.00 17,069.00 657.00
Clerical and supervisory staff – Matriculate but not Graduate 17,991.00 572.00 18,563.00 714.00 234.00 18,797.00 723.00
Clerical and supervisory staff – Graduate and above 19,572.00 624.00 20,196.00 777.00 234.00 20,430.00 786.00

Below is the definition of category of workers for classification of skill and wages.

(A) Highly skilled-A highly skilled worker is one who is capable of working efficiently and supervises efficiently the work of skilled employees.
(B) Skilled- Skilled employee is one who is capable of working independently and efficiently and turning out accurate working. He must be capable of reading and working on simple drawing circuits and process, if necessary. (ELECTRICIAN, MECHANIC, TAILORS, COOKS Comes in skilled category).
(C) Semi-skilled– A semiskilled worker is one who does work generally of defined routine nature wherein the major requirement is not so much of the judgment, skill and but for proper discharge of duties assigned to him or relatively narrow job and where important decisions made by others.( GATEKEEPER(CINEMA),ASST. OPERATOR, ASST ELECTRICIAN, BOOKBINDER,WAITER OR BEARER, MALI WITH TECHNICAL EXPERIENCE comes in semi skilled category).
(D) Un-skilled- Un-skilled employee is one who possesses no special training and whose work involves the performance of the simple duties which require the exercise of little or no independent judgment or previous experience although a familiarity with the occupational environment is necessary. (UNSKILLED: PEON, CHOWKIDAR, DURBAN, WATCHMAN, CLEANER, SWEEPER, LOADER, HELPER, MALI comes in unskilled category.)

Click here to download the notification.

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Categories
ESIC

Unemployment Benefit under ESIC Act.

Have you ever felt the pain of losing a job or the fear of not knowing what will happen next? You don’t need to rush to find a new job anymore. In this Blog we will discuss the unemployment scheme introduced by the ESIC department to provide the financial benefits to the employees covered under ESI.

Schemes Offered by Employees’ State Insurance Corporation (ESIC)

There are two major schemes under the ESIC that offer unemployment benefits: –

  • Rajiv Gandhi Shramik Kalyan Yojana
  • Atal Beemit Vyakti Kalyan Yojana

Rajiv Gandhi Shramik Kalyan Yojana

This scheme provides an unemployment allowance for the employees under ESI scheme who are rendered unemployed involuntarily due to retrenchment/closure of factory etc. after fulfilling certain eligibility conditions.  The scheme of the “Rajiv Gandhi Shramik Kalyan Yojna” came into effect from 1st of April 2005.

Under this Scheme, the eligible workers receive a daily rate of allowance and medical care for self and family during the period of unemployment up to two years.

Eligibility to Receive Unemployment Allowance
  1. The Employee must be unemployed after April 2005.
  2. Employees have to wait a one month after the loss of job to avail this scheme.
  3. The establishment has been covering under the ESI Act, and employee had paid at least 2 years’ worth of ESI contribution.
  4. Employee must file the UA(Un-employment Allowance) claim within 12 months of unemployment.
  5. The UA is available for a maximum of 24 months in an employee’s lifetime, up until the age of 60.
  6. You cannot avail any other cash benefits (apart from medical).
  7. Once you start a new job, your UA will terminate, unless you lose your job again.

Unemployment benefits under this scheme can be availed in one period or different periods of unemployment provided that each period shall not be less than one month. In other words, benefits can be sought for numerous spells of unemployment, but they must be a minimum of one month. The unemployment benefit is not combined with other benefits under the act such as sickness benefit, maternity benefit, or disablement benefit during the period where the insured person is without a job

The payment of unemployment benefit is subject to Section-61 of the ESI Act which states that entitlement to any of the benefits under the Act results in disentitlement of similar benefits under other enactments. Payment of unemployment benefit shall continue for a maximum period of twelve months and is equivalent to the Standard Benefit rate that corresponds to the average daily wages drawn by the insured person in the last four completed contribution periods, immediately preceding the date of unemployment.

To avail of unemployment benefits under this scheme the applicant must submit an application to the concerned Branch Office in Form US-1 attached with documentary proof in Form UA-2. The letter is the certificate of closure that may be accepted from an employer if he submits return contributions under Regulation 26(b) on permanent closure of the factory/establishment.

Reasons for Disqualification

  1. You lose your job due to a strike.
  2. You opt for voluntary retirement.
  3. If you are 60 or older.
  4. You opt for premature retirement.
  5. You lose your job due to a dispute or a conviction.
  6. If you get a new job.

2. Atal Beemit Vyakti Kalyan Yojana

On 18th September 2018, the ESIC decided to provide unemployment benefits in the form of cash compensation to insured persons who have been rendered unemployed. The above scheme was launched with the intention of achieving the same is a welfare measure for employees as defined under Section-2(9) of the ESI Act. The scheme was launched vide the Corporation’s powers under Section-19 of the Act that provides that the Corporation may promote measures for the re-employment of insured persons in addition to the framework of benefits specified under the Act.

To be eligible for unemployment benefit under this scheme the insured person:-

Should have been rendered unemployed during the period where relief is claimed Atal Bimit Vyakti Kalyan Yojana is a welfare measure being implemented by the Employee’s State Insurance (ESI) Corporation. It offers cash compensation to insured persons when they are rendered unemployed.

The Scheme was introduced w.e.f. 01-07-2018. The scheme is implemented on pilot basis for a period of two years initially.

Benefits under the scheme

The scheme provides relief to the extent of 25% of the average per day earning during the previous four contribution periods (total earning during the four contribution period/730) to be paid up to maximum 90 days of unemployment once in lifetime of the Insured Person.

Duration of allowance

  1. The maximum duration, for which an IP shall be eligible to draw the Relief under the Atal Beemit Vyakti Kalyan Yojana (ABVKY) will be 90 days once in life time after a minimum of two years of Insurable Employment and subject to the contributory conditions specified above. The claim for relief under the Atal Beemit Kalyaan Yojana will be payable after the three months of his/her clear unemployment. The relief will be paid for clear month of unemployment. No prospective claim will be allowed.
  2. In case the beneficiary gets gainful employment in between the three months of unemployment for which he was eligible for relief under ABVKY, the relief will be payable for clear month of unemployment between the date of unemployment and date of re-employment. The balance of 90 days of relief in this case may be claimed in the same manner as mentioned above based upon the initial contributory conditions by the beneficiary in case he again renders unemployed from Insurable employment within one year from initial unemployment.

Eligibility

  • Employees covered under Section 2(9) of the ESI Act 1948.
  • The Insured Person (IP) should have been rendered unemployed during the period the relief is claimed.
  • The Insured Person should have been in insurable employment for a minimum period of two years.
  • The Insured Person should have contributed not less than 78 days during each of the preceding four contribution periods.
  • The contribution in respect of him should have been paid or payable by the employer.
  • The contingency of the unemployment should not have been as a result of any punishment for misconduct or superannuation or voluntary retirement.
  • Aadhar and Bank Account of the Insured Person should be linked with insured person database.

Other conditions for administration of the scheme

  • In case the IP is working for more than one employer and is covered under the ESI scheme he will be considered unemployed only in case he is rendered unemployed with all employers.
  • As specified in Section 65 of the ESI Act, an IP shall not be entitled to any other cash compensation and the Relief under ABVKY simultaneously for the same period. However, periodical payments of Permanent Disability Benefit (PDB) under ESI Act and Regulations shall continue.
  • As specified under Section 61 of the ESI Act, an IP who is in receipt of Relief under ABVKY shall not be entitled to receive any similar benefit admissible under the provisions of any other enactment.
  • The IP will be eligible for Medical benefit as provided under the Act for the period he is availing this relief.

Disqualification/Termination of relief under ABVKY

Relief under ABVKY shall not be applicable in the following circumstance:

  1. During lock out.
  2. Strike resorted to by the employees declared illegal by the competent authority.
  3. Voluntary abandonment of employment/ voluntary retirement/ premature retirement.
  4. Less than two years contributory service.
  5. On attaining the age of superannuation.
  6. Convicted (i.e. punished for false statement) under the provisions of Section 84 of the ESI Act read with Rule 62 of the ESI (Central) Rule
  7. On being re-employed elsewhere during the period he/she is in receipt of Relief under ABVKY.
  8. Dismissal/termination under disciplinary action.
  9. On death of IP.

Calculation of the relief amount

Example

Date of Unemployment: 01/04/2020

Contributory particulars of the preceding four contribution periods:

Contribution PeriodNo.of DaysWages
Oct 18 to March 1918290000
April 19 to Sep 2018360000
Oct 18 to March 1918260000
April 18 to Sep 181836000
Total730240000

Amount of relief/Benefit available for 90 days: (2,40,000/730) x (25/100) x 90 = Rs.7397/-

Ilustration-2

Date of Unemployment: 02/10/2018

Contributory particulars of the preceding four contribution periods:

Contribution  PeriodNo.of DaysWages
April 18 to Sep 188026667
Oct 17 to March 1818360000
April 17 to Sep 177826000
Oct 16 to March 177826000
Total419138667

Amount of relief/Benefit available for 90 days:- (1,38,667/730) x (25/100) x 90 =Rs.4274/-

This is important to note that the benefit can be availed by only those employees who have become unemployed after March 24th 2020.

If you have any further questions pertaining to eligibility, mode of application or any other matter related to this post, please drop your queries@ cheshtas92@gmail.com.

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Categories
Payroll Provident Fund (PF)

PROVIDENT FUND RULE’S FOR INTERNATIONAL WORKER’S

DEFINITION AND COVERAGE OF INTERNATIONAL WORKER UNDER PROVIDENT FUND

An International Worker (IW) is any employee who is a foreign national working in India under an employer registered with the EPFO or an Indian employee who is working in a foreign country with which India has a Social Security Agreement (SSA).  Every foreign worker employed with an establishment to whom the EPF applies must become a member of the provident fund (PF) from the first date of his/her employment. There is no minimum period of stay in India for activation of PF compliance. Hence, in relation to individuals working in India in establishments to which the EPF Act applies, an employee other than an Indian employee, holding other than an Indian passport, can be treated as an International Worker. One would also need to examine whether such an individual comes from a country with which India has signed a SSA, and if so, whether contributions need to be made in India or in the home country of this individual, based on the terms of the SSA.

If an employee is classified as an International Worker and provident fund contributions are payable in India (either because India does not have an SSA with the country from which such individual comes, or because the SSA benefits are not triggered based on various factors), the Indian employer will be required to make contributions under the EPF Act on the entire global income of such individuals (without any upper limit).

PF CONTRIBUTION RATE FOR INTERNATIONAL WORKERS

The PF contribution rate for foreign workers registered with EPF (or IWs) is 12 percent. The PF rate is calculated on full salary of the IW irrespective of whether the salary is remunerated in India or outside India, split payroll, or multiple country sources.

The major difference between regular Indian workers, and IWs, is that for Indian employees, companies are entitled to limit their provident fund contribution to 12% of INR 15,000 (i.e. INR 1,800 per month)(the upper limit), even if the ‘monthly pay’ (defined to mean basic wages, dearness allowance and retaining allowance) of the employee exceeds INR 15,000.  In case of IW’s there is no upper limit.

Therefore, in the event of any alleged non-compliance with the obligation to make PF contributions for IWs, organizations can face significantly greater liability to make hefty payment on pending contributions (along with interest and penalties).

Exemptions

IWs are exempt from contribution towards PF only if their home country has a social security agreement (SSA) or economic-bi-lateral treaty with India

ELIGIBLE SERVICE FOR INTERNATIONAL WORKERS UNDER THE EMPLOYEES’ PENSION SCHEME, 1952

By a notification dated 05 October 2012, the Ministry of Labour of Employment has introduced sub-paragraph 4A to paragraph 43-A of the Employees’ Pension Scheme, 1952 (EPS) which deals specifically with international workers. Under the EPS, an employee is eligible for pension upon his retirement, if the employee has rendered the minimum eligible service of 10 years.

By virtue of this notification, the Ministry has clarified that in respect of an international worker from a country with which India has executed an SSA, eligibility for pension is determined on the total number of years of service rendered by the international worker under the social security programme of his home country and the number of years of service rendered in India in an establishment covered under the EPS. For example, if an employee has been employed in his home country for a period of 20 years and in India for a period of 7 years, the employee’s eligible service in India would be considered as 27 years and he would be eligible for pension.

However, it is relevant to note that the calculation of pension is made only on the number of years during which contributions were made under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 (EPF Act). In the example above, the international worker’s pension would be calculated on the 7 years during which contributions were made on his behalf under the EPF Act.

WITHDRAWAL RULES UNDER EPF

An international worker may withdraw the accumulated balance in the EPF account in one of the following situations:

1. at the time of retirements, that is, on or after 58 years of age.

2. in case of retirement due to permanent and total mental or physical incapacity to work.

3. in case of serious illness such as cancer, leprosy, or tuberculosis; or,

4. on completion of Indian employment, if the IW’s home country has an SSA with India.

The facility to receive PF refund on the date of completion of Indian employment is not available for IWs who are not covered under SSA.

WITHDRAWAL OF FUNDS UNDER EPS

The EPS regulations do not recognize the employer’s contribution to the pension scheme. Since only employer’s contributions are allocated to the EPF, the EPS does not entitle IWs to pension benefits when they leave India, regardless of accrued employer contributions.

The pension withdrawal is only available to employees who are covered under an SSA that has come to effect, and to employees who have not completed the eligible service of 10 years even after including the totalization of service under the respective SSAs.

Categories
ESIC monthly Compliance Calendar

COMPLIANCE CALENDAR FOR THE MONTH OF NOVEMBER 2020

Hi Folks,

As we all know that statutory compliance’s might seem futile, but like any other set of rules & regulations, statutory compliance serves a great purpose. It makes sure that no person, either government, company, or an employee, faces any hassle in their work.

“Compliance Calendar keeps the organization alert of their responsibilities. “

Consider below Act wise the compliance Calendar for the month November 2020. Block the mentioned dates for the compliance’s in your calendar as mentioned below:-

Date (by when)Applicable ActDetails of ComplianceFrequency
07-Nov-20TAX DEPOSITMONTHLY DEPOSIT TAX CONTRIBUTIONMONTHLY BASIS
15-Nov-20ESICMONTHLY DEPOSIT ESIC CONTRIBUTIONMONTHLY BASIS
15-Nov-20PROVIDENT FUNDMONTHLY DEPOSIT PF CONTRIBUTIONMONTHLY BASIS
20-Nov-20 PROFESSIONAL TAXKARNATAKAMONTHLY BASIS
10-Nov-20 PROFESSIONAL TAXANDHRA PARDESHMONTHLY BASIS
21-Nov-20 PROFESSIONAL TAXWEST BENGALMONTHLY BASIS
30-Nov-20 PROFESSIONAL TAXMAHARASHTRAMONTHLY BASIS
15-Nov-20 PROFESSIONAL TAXGUJARATMONTHLY BASIS
30-Nov-20 PROFESSIONAL TAXODISHAMONTHLY BASIS
10-Nov-20 PROFESSIONAL TAXMADHYA PARESHMONTHLY BASIS
30-Nov-20 PROFESSIONAL TAXGUWAHATIMONTHLY BASIS
15-Nov-20 PROFESSIONAL TAXJHARKHANDANNUALLY
15-Nov-20 PROFESSIONAL TAXBIHARANNUALLY
15-Nov-20LABOUR WELFARE FUNDCHANDIGARHMONTHLY BASIS
30-Nov-20LABOUR WELFARE FUNDHARYANAMONTHLY BASIS
15-Nov-20LABOUR WELFARE FUNDPUNJABMONTHLY BASIS
05-Nov-20LABOUR WELFARE FUNDKERALAMONTHLY BASIS
Start Date is From November 1stSHOP AND ESTABLISHMENT RENEWALTELENGANA**ANNUALLY

**Last date for renewal of shop and Establishment license is till December 31st 2020.( States like Telengna, Assam, West Bengal)

Further kindly note that last date for filing the ITR have been extended till December 31st 2020.

Download the Compliance Chart

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Email: cheshtas92@gmail.com

Categories
attendance

Free download attendance sheet in excel with formula

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Categories
monthly Compliance Calendar Payroll

Statutory Compliance’s Dues Date Calendar for October 2020

Hi Folks,

Happy to sharing the statutory compliance calendar for the month of October 2020. Consider below Statutory compliance’s dues date calendar issued by Payrollpedia.org for October 2020.

What is Statutory Compliance?

For an organization to function smoothly, it needs to be streamlined, organized and must have proper rules and regulations in place. These regulations extend to every aspect, including how the organization interacts with its employees. This is referred to as statutory compliance. In human resources, statutory compliance relates to the legal framework within which companies must operate in the treatment of their employees.

Mark the important dates on your calendar so that you will never miss out the important dates for completing the compliance’s of October 2020. 

Date (by when)Applicable ActDetails of Compliance
07-Oct-20TAX DEPOSITMonthly Deposit Tax Contribution
15-Oct-20ESICMonthly Deposit Esic Contribution
15-Oct-20PROVIDENT FUNDMonthly Deposit Pf Contribution
30-Oct-20EMPLOYMENT EXCHANGEQuarterly Return for Quarter ending 30th SEP
31-Oct-20TDS SALARY II QTR RETURNQuarterly Return for TDS Salary II QTR(24Q)
20-Oct-20 PROFESSIONAL TAXKarnataka (Bangalore) [Monthly]
10-Oct-20 PROFESSIONAL TAXAndhra Pradesh (Hyderabad) [Monthly]
21-Oct-20 PROFESSIONAL TAXWest Bengal (Kolkata) [Monthly]
31-Oct-20 PROFESSIONAL TAXMaharashtra (Mumbai) [Monthly]
15-Oct-20 PROFESSIONAL TAXGujarat (Ahmedabad) [Monthly]
31-Oct-20 PROFESSIONAL TAXOrissa (Monthly)
10-Oct-20 PROFESSIONAL TAXMadhya Pradesh (Indore) (Monthly Salary)
31-Oct-20 PROFESSIONAL TAXGuwahati (Assam) (Monthly)
31-Oct-20 PROFESSIONAL TAXPONDICHERRY (Half-Yearly)
31-Oct-20LWFHaryana
15-Oct-20LWFPunjab
15-Oct-20LWFChandigarh

Download the compliance chart for month of October 2020. For getting paid the consultation on these on compliance’s you can reach us through

Email: cheshtas92@gmail.com &

Call/WhatsApp us : +91 8700694790

Download the calendar

Categories
Min Wages Minimum Wage Payroll

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Minimum wages can also be one element of a policy to overcome poverty and reduce inequality, including those between men and women, by promoting the right to equal remuneration for work of equal value.

Consequences of not paying the Minimum Wages as per the rates prescribed by the state government.

Under-payment and non-payment of Minimum Wage is deemed as an offense under the Central Act. The penalty may range from upto 5 years imprisonment and a fine of Rs. 10000/- (under Section 22 of the Act).

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