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Meal voucher acceptance being discontinued by modern retail chains
for hr new year jolt to employees modern retail outlets like bigbazaar more etc. put up notices in their stores. and vouchers acceptance stopped w.e.f 1st jan 2012. our camp card solutions meal card customers not affected...
Pan card not working.
Hi sir/madam. my pan card is not working. i went to bank to deposit 50000 and in slip i rote my pan number. the bank employee told that your pan is not in use.my native is tirupati and i taken pan card there itself.
Meal allowance law - must read and contribute
Dear hr managers i would like to inform all of you that if you are issuing meal vouchers to your employees in india you need to look at the fine prints that the voucher companies have mentioned on the contract as well as on the back of the vouchers to indemnify themselves from the risk that you as a company might be taking on yourself / on your employees. as per it notification dated december 2009 meal value is not taxable in the hands of the employees if 1 free / subsidized meals are provided by the company to the employees 2 if the allowance is provided through meal vouchers that fulfills the following criteria a should not be transferable b should be usable only in eating joints no grocery purchase c usable only at the rate of rs 50/ per meal d used during working hours by the employees these conditions are well understood by the voucher companies and appropriate statements are included in the "terms and conditions" section of the contract behind each meal voucher and on their website that protects them well. the tone of the notification clearly points at promoting canteen setups within the companies. next time your sodexo sales guy tells you to issue meal vouchers to your employee at the rate of more than rs 50/ per meal do check the following from him 1 at what rate is his own company providing meal allowance to him ? is this lower than what he used to get till december 2009? ask for proofs and be careful about the legal opinion they will flash from a rather seedy lawyer. 2 can they indemnify your company if the employees are penalised for misuse? can your employees transfer the vouchers and use if for grocery purchase in retails malls and also exhaust the entire booklet in one shot? 3 are the vouchers going to be treated at par with cash in their outlets? if not think if you are indeed profitable after saving tax on the voucher and paying at a higher rate for your purchases. think about the hassles risk of loss advance payment... my calculation says on an average all your employees would save 14 tax and lose well over 16 recently i came to know from some sources that the income tax department has taken the misuse of meal voucher by employees very seriously and are working on steps that may lead to penal action. i would like you all to take legal advice and be safe. but yes i have only raised issues with meal vouchers. i am sure you would be looking for solutions. i suggest the following solutions 1 focus on your own cafeteria and provide a free / a subsidised meals to your employees. employees not using the cafeteria could be compensated. this can be easily done if you manage this electronically. camp card solution p ltd mumbai. has done it for us. you can also approach others as well like miracle software p ltd pune all leading banks cubex india solutions etc. banks like hdfc citi axis have their meal cards which you can provide to your employees and ask the bank to deploy their card terminal in your cafeteria and restrict usage of the card on that terminal only. however in campus transactions smart card especially contact less cards scores over magnetic strip cards of the bank. i would recommend campcard s system both in terms of their quality focus on product service standards as well as their overall understanding on meal allowance laws. 2 provide meal vouchers to your employees and launch an awareness campaign amongst the employees with the conditions of usage and take written commitments from them on the usage. i would welcome some other hr managers to contribute to this so that i can post a ready reckoner on meal vouchers for everybody s reference and also update the same on an ongoing basis. i have mentioned one topic and wish similar other topics relevant for hr managers be picked up and championed by our fellow colleagues for the larger benefit warm regards manjari
Meal card providers be aware of the new rule.
2009 of rule 40 no. 1/2009 512009 in exercise of the powers conferred by section 295 read with subclause iii of clause b of subsection 2 of section 115wb of the incometax act 1961 43 of 1961 the central board of direct taxes hereby makes the following rules further to amend the incometax rules 1962 namely :— 1. i these rules may be called the incometax first amendment rules 2009. ii they shall come into force with effect from the 1st day of april 2009. 2. in the incometax rules 1962 in part viic after rule 40d the following rule shall be inserted namely:— "prescribed conditions for the purposes of subclause iii of clause b of subsection 2 of section 115wb. 40e. for the purposes of subclause iii of clause b of subsection 2 of section 115wb the nontransferable prepaid electronic meal card hereinafter called the "card" shall fulfil the following conditions namely:— i the card shall be granted by the employer to its employees under a scheme framed by the employer specifying therein the circumstances under which the meal card can be used by the employee. ii the card under clause i shall be issued by the issuing bank. iii an employee shall not be issued more than one card. iv the card shall bear the name of the employer along with the name photograph and signature of the employee to whom the card is issued. v the card shall be used only by the employee to whom the card is issued. vi the card shall be used by the employee only for the purpose of purchasing ready to eat food or nonalcoholic beverage from a member establishment. vii the aggregate amount of ready to eat food or nonalcoholic beverage purchased during a day by an employee shall not exceed one hundred rupees. viii the details of each transaction of purchases made by the employee against the card shall be maintained by the employer and the member establishment in such manner and for such period as is required under the act for any other similar transaction. explanation. for the purposes of this rule — i “banking company" shall have the same meaning as assigned to in clause viii of subsection 1 of section 36 of the act; ii "issuing bank" means a banking company a which issues the card to the employees of an employer in pursuance to an agreement entered into with the employer; and b which has entered into a contract with the member establishment authorizing him to allow purchases against the card issued by it in accordance with the conditions stipulated in subclause iii of clause b of subsection 2 of section 115wb and this rule; and iii "member establishment" shall mean a restaurant hotel canteen or an outlet which sells ready to eat food or nonalcoholic beverage but shall not include a restaurant hotel canteen or an outlet selling alcoholic beverage." f. no. 133/70/2008tpl courtesy : regards davis john asst manager hr generalist breadtalk india 919966003210 davisjohn.hrgmail.com
Meal voucher limit
Dear all as per the income tax act there is no ceiling on meal vouchers this year. but will you advise as to the ceiling limit on the meal vouchers to be given to employees? thanks and regards praveen
Can i use the pf online claim system with pan /bank details?
Respected sir/madam i resigned from my last company on november 2016 and i submitted my pf claim form to my company on february 2017 but still now they cannot submitted my pf form to pf office. adhaar card attached as kyc details in my uan but bank account details and pan card not attached as kyc. so i want to know if i submitted bank details and pan card can i use online claim facility??