Provident Fund

High Court Explains Why Section 43B applies To Employees PF

Ratio of the case: Due date in Section 36(1)(va) for payment of employees™ Provident Fund, ESIC etc contribution should be read with section 43B(b) to mean due date for filing ROI CLR Editorial Notes: The assessee collected employees™ Provident Fund contribution for payment to the provident fund authorities. However, the amount was not paid to the provident… Read More

Tags: CITEmployee Provident FundHigh CourtIncome Tax ActIncome Tax Act 1961Order of AustraliaProvident FundRate of return

No interest on PF on inoperative accounts

PF Accounts which are non operative for 36 months shall  not earn any interest, as per the Employees Provident Funds Amendment Scheme which comes into effect from 1st April, 2011. This means all the old PF accounts of employees with old employers, which have become in-operative and have not been transferred or withdrawn will stop… Read More

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