EPF is the main scheme, under which retirement benefits are accumulated, launched under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 and which is managed under the aegis of Employees' Provident Fund Organisation (EPFO).
This article contains various Compliance requirements for the Month of February, 2022 under various Statutory Laws.
Finance Minister, SmtNirmala Sitharaman, has announced the introduction of Digital Rupee to be issued by the Reserve Bank of India starting 2022-23 while presenting the Union Budget 2022-23 in the Parliament. T
Employee having valid UAN, need to make sure that his or her date of birth (DOB) details are true and correct in Employees’ Provident Fund (EPF) records and also similar as mentioned in the Aadhaar database. In case of mismatch, the UAN holder may face delay in EPF withdrawal claims.
IRDAI vide Ref. No: IRDAI/NL/GDL/SIC/01/01/2022 dated 03.01.2022, in exercise of the powers conferred under section 14 (2) (i) of IRDA Act, 1999, has issued the IRDAI (Surety Insurance Contracts) Guidelines, 2022 ("Guidelines") to regulate the business of surety insurance ("Business") in view of the unique risks and features of surety insurance.
RBI has issued this framework allowing offline payments up to Rs 200 per transaction, subject to an overall limit of Rs 2,000.
The RBI vide Notification no. No. DOR.FIN.081/CGM (JPS)- 2022, dated 14.01.2022 has notified the Registration of Assignment of Receivables (Reserve Bank) Regulations, 2022.
The government had allowed employees to withdraw from their provident fund account in case they needed emergency funds due to financial stress caused by the covid-19 pandemic.
RBI vide notification no. RBI/2021-22/147 IDMD. PDRD. No. S1617/03.64.023/2021-22 on 04th day of January, 2022 has introduced the market making scheme to with an objective to promote retail participation in government securities by providing prices/quotes to RDG account holders enabling them to buy and sell securities under the RBI Retail Direct Scheme.
The Central Board of Direct Taxes (CBDT) has given one-time relaxation for the verification of e-filed ITRs, which are pending e-verification. The decision was taken amid complaints of glitches in the e-filing portal of the income tax department.
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