Lesson

  1. Employee contribution rate to EPF: 12% of Salary (Basic + DA Allowance) Employer contribution rate to EPF: 3.67% of Salary (Basic + DA Allowance) Employer contribution rate to EPS: EPF – EPS or 8.33% of Salary (Basic + DA Allowance) i.e. above Rs. 15,000 than Rs. 1,250
  2. The Indian government established the Employees' Provident Fund Organisation (EPFO) as a statutory entity. Its primary goal as the nation's largest social security agency is to help people save money for retirement, among other things. Established in 1951, EPFO is governed by the Ministry of Labour and Employment.
  3. The kinds of documentation needed for a business's GST (Goods and Services Tax) registration in India can differ depending on the kind of business and what it does. But in general, the following set of paperwork is required for GST registration:
  4. The Harmonised System of Nomenclature (HSN) and Service Accounting Codes (SAC) are used to classify all commodities and services that must be utilized for India GST, which will help lower barriers to international trade. These SAC and HSN codes have also been utilized in record-keeping and invoices so that the supplied goods and services are readily identifiable.
  5. The aim of Form GSTR-3B, a simplified summary return, is to allow taxpayers to declare and pay their summary GST liabilities for a specific tax period. Form GSTR-3B returns must be filed by a regular taxpayer for each tax period.
  6. GSTR-2A is an auto-generated form that gives taxpayers information about inbound supplies they have received. It is produced using the data that suppliers provide on their GSTR-1 forms. On the GST portal, taxpayers can check GSTR-2A and confirm the specifics of purchases they made from registered vendors. To guarantee accuracy and completeness, firms must reconcile the data in GSTR-2A with their purchase records.
  7. DSC for EPFO streamlines all processes associated with the worker's PF transfer claim, regardless of whether they were previously employed by the company or not. To register a PF claim on the EPFO portal, one needs to use an EPFO digital signature, as per the guidelines on the CCA, Government of India website.