PF Enhancement in the existing eligibility limit of 68J claims for auto claims processing from Rs.50,000 to Rs.1,00,000
News/Article Date: 16th April, 2024
Relating to which Act: The Employees Provident Funds & Miscellaneous Provisions Act, 1952;
Penalty under the Act: Whoever, for the purpose of avoiding any payment to be made by himself under this Act [the Scheme, the [Pension] Scheme] or the Insurance Scheme] or of enabling any other person to avoid such payment knowingly makes or causes to be made any false statement or false representation shall be punishable with imprisonment for a term which may extend to one year, or with fine of five thousand rupees, or with both].
Applicable to which State: Whole of India
Type: EPFO Circular No. WSU/E/13719 /697
Dated : 16th April 2024 issued by ACC (WSU)
Pertains to: Establishments and Employers covered by the Act
Relevance of this news: Karma Global is in the business of HR Services, Payroll, Outsourcing and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding , Employee Life Cycle, Statutory, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.
Now Karma Management is also fully into labour compliances for nearly 18 years and is helping both establishments and workers for fulfillment of obligations as per the laws of the land. It has over 200 staff, both direct and indirect on its rolls and operates on pan India basis. Recently, it has diversified into foreign shores as well, into countries like US, UK, UAE, Canada, Philippines, and Asia for handling payroll, outsourcing, recruitment and governance.
And in the current instance, it is to inform that the competent authority has approved the limit of auto claims settlement under para 68J from Rs. 50,000 to Rs.1,00,000/- and the same has also been deployed in the application software.
This facility is being in the nature of ease of living is required to be suitably disseminated to all the stake holders
Subject: Enhancement in the existing eligibility limit of 68J claims for auto claims processing from Rs. 50,000 to Rs.1,00,000
