Hi, is it compulsory to get registered under PTEC and PTRC. We have registered under GST ,had employees more than Rs.7500 till august 2018. is PTRC required. Please guide
Yes, you should register for PTRC also. PTEC permits to pay the professional tax of the business entity (Private Ltd, Public Ltd, OPC, etc) and also of the owner or professional (sole proprietor, partner, director, etc). Whereas, the function of a PTRC is to permit the employer (government or non-government) to deduct professional tax from the employee’s salary or wages and deposit the same to the respective state government. A fully functional business entity commonly requires both to conduct its business operations.