Dear Seniors.
Greetings for the day
We all are aware that as per amendment in section 192A of I.T. Act, from 01/06/2015 on wards TDS provisions will be applicable on settlement of claims prior to 5 years. Hence in the interest of workers, all employers are requested to guide their employees to get PF dues transferred to their new/present accounts instead of final settlement. Accordingly, employers should fill Form no. 13 instead of Form no. 19 to avoid payment of income tax. This will facilitate employees to get pension and EDLI benefits to their family members upto Rs. 3,60,000/-.Notification enclosed for the reference.
Greetings for the day
We all are aware that as per amendment in section 192A of I.T. Act, from 01/06/2015 on wards TDS provisions will be applicable on settlement of claims prior to 5 years. Hence in the interest of workers, all employers are requested to guide their employees to get PF dues transferred to their new/present accounts instead of final settlement. Accordingly, employers should fill Form no. 13 instead of Form no. 19 to avoid payment of income tax. This will facilitate employees to get pension and EDLI benefits to their family members upto Rs. 3,60,000/-.Notification enclosed for the reference.
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