Moneylife Foundation conducted its first exclusive workshop on investing in stocks. Debashis Basu, editor, Moneylife, took the participants through how and why many investors lose money in stocks and addressed how to pick stocks safely
The EPFO stated that its 5 crore members need not necessarily have Aadhaar numbers to avail the benefits of PF body's schemes as these are excluded from Centre's Direct Benefit Transfer programme
Now the Employees Provident Fund Organisation’s (EPFO) over 5 crore members need not necessarily have Aadhaar numbers to avail the benefits of PF body's schemes as these are excluded from Centre's Direct Benefit Transfer (DBT) programme.
“The schemes under EPFO and ESIC have been excluded from the list schemes identified for implementation of Direct Benefit Transfer,” a labour ministry letter to the EPFO’s Central Provident Fund Commissioner stated.
Subsequently, the EPFO head office issued an office order to discontinue submission of monthly report on the progress of the work under the DBT scheme by regional offices.
At present, the money is transferred through NEFT and cheques. The scheme was excluded from the DBT scheme mainly because it was for distributing subsidies and grants and PF money is not a subsidy, an official explained.
Earlier this year in January, EPFO has asked the field staff to ensure the collection of data (Aadhaar) in respect of member joining on or after 1 March 2013 on a monthly basis and in respect of existing members by 30 June 2013.
According to the office order issued then, in case an employee does not have the Aadhaar number, the employer can issue an Enrolment ID (EID) as per the guidelines of the body. This EID would be converted into Aadhaar number later on, the order had said.
The body had also decided to seek the Aadhaar numbers of its pensioners through the banks.
Later in February this year, after drawing flak from unionist for the move, the PF body decided to put on hold the decision to make it mandatory for new members joining EPF scheme to provide Aadhaar number as credential for enrolment from 1 March 2013.
The EPFO order circulated in February had observed that getting the Aadhaar was a time consuming process and the (UIDAI) scheme covers only 18 states.
The remaining states are covered by the Register General of India under the National Population Register which would be digital database of country’s residents.
Following an uproar about the flawed methodology of calculating property tax, the BMC has now extended the last date for paying tax by three months
Municipal Corporation of Greater Mumbai (MCGM) or BrihanMumbai Municipal Corporation (BMC) has extended the last date to file property tax to 30th September. As per the previous order, the last date for paying property tax was 30 June 2013. When contacted, the official at the public relations department at BMC confirmed the extension.
As reported earlier, Moneylife Foundation has conducted several seminars and counselling sessions on the property tax issue affecting Mumbaikars, ever since the MCGM sent out demands for its hefty revised property taxes with arrears for the past three years. Anomalies in computation and the hefty new taxes have caused serious concern for home and property owners. The new taxes carry the threat of hefty penalties for non-payment; however after public outrage over the short time allocated to pay up, the MCGM deferred tax payment deadline from March to June.
Several persons had called us at Moneylife and were calling property experts to find out whether they are obliged to pay by 30 June 2013. All such people can now pay the tax until September end.
When the revised property tax notices were sent out, several organisations, including the Property Owners Association had announced plans to move court, but we find that none of the cases has been filed yet.