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New EPFO rules mandate 3-day PF settlements, simplify withdrawalsGovernment revamps EPFO rules, mandating PF claim settlements within three days and imposing a 12% penal interest on officials for delays. ...- EPFO's new social security rules tighten claim timelines, mandate digital complianceNew social security schemes under the Code on Social Security are now in effect, prioritizing digital compliance and faster claim settlemen...
- SBI ordered to pay Rs 20 lakh compensation each to sweepers; HC says bread is costlier than bloodEnding a 27-year legal fight, the Orissa High Court ordered a public sector bank to pay Rs 20 lakh each to two daily-wage sweepers. The cou...
- EPFO held on to Rs 10 lakh for 11 years: Patna HC orders it to refund the deposit with 6% interest for ‘unjust enrichment’The Patna High Court has ordered the EPFO to pay 6% annual interest on a Rs 10 lakh deposit, citing unjust enrichment. The court ruled that...
- India, US reaffirm push for trade deal, call talks ‘nearly done except commas’Recent trade negotiations in New Delhi marked a pivotal moment for India and the United States. A dedicated US delegation engaged with Indi...
- Centre asks states to ease compliance under legal metrology overhaulThe Centre is urging states and Union Territories to speed up legal metrology reforms. This includes moving from a licensing system to a re...
- Supreme Court pulls up Centre over food safety failures, seeks auditThe Supreme Court has directed the Centre and the Food Safety and Standards Authority of India to explain why a nationwide performance audi...
- Alpha Corp to take over three stuck projects following Supreme Court approvalThe Supreme Court has revived Alpha Corp's plan to complete three stalled projects of Earth Infrastructures. This decision offers hope to o...
- India’s trade map enters a world that’s threatened by missiles & bombsIndia's ambitious trade deals are now facing their crucial test. Agreements signed with countries like the UK and Oman are in transition. W...
- Rs 15 lakh PF deducted but not deposited: HC allows criminal case to continue against director of company that turned insolventThe Orissa High Court ruled that a company director will face a criminal case for failing to deposit Rs 15 lakh deducted from employee sala...
- ET Explainer: What RBI's norms on penal charges mean for borrowersThe Reserve Bank of India (RBI) has implemented new guidelines on penal charges for loan accounts starting from April 1. These regulations ...
- Centre tightens fund flow rulebook for CSS schemes; brings penal interest clauseAny delay beyond 30 days would attract a 'penal interest' of 7 per cent per annum. This 'penal interest' by a state that delays prescribed ...
- RBI to cap penal charges on loans payment missed by borrowersThe Reserve Bank of India (RBI) is set to cap the penal charges levied by the banks and non-banks related to loans payment missed by borrow...
- RBI to review arbitrary penal charges on loans; to release draft guidelines soonCurrently, the penal amount levied varies within banks and also among NBFCs. The penal charges levied are arbitrary by the bank i.e, each b...
- How to reduce penal interest payable on tax if ITR filing delayed due to glitches in sitePenal interest is levied at 1 per cent per month or part thereof starting from August 1, 2021. If the self-assessment tax is deposited on o...
- CIDCO slashes penal interest rate on delayed payment charges by 50%The decision is expected to provide relief to small and medium size realty developers in Navi Mumbai. Currently, developers pay 12% interes...
- LoanTap waives penal charges for customers due to Yes Bank moratoriumIn the first week of March, Yes Bank was placed under moratorium and withdrawal limits were imposed, due to which its banking operations we...
- After four-year delay, Yamuna Expressway Authority to hand over 5,000 residential plots in Dec14,453 plots having sizes of 200 sqm, 300 sqm and 1,000 sqm were cleared for allotment under the Residential Plot Scheme 1 in 2009 in YEIDA...
- Competition Commission of India to demand 1.5% penal interest for delay in finesCCI keeps a tab on unfair business practices and is authorised to impose fines on those found to have engaged in anti-competitive activitie...
- Delayed settlements only to those who withold info: HDFC LifeHDFC Life said it clears all claims on time unless there is a non-disclosure of material facts and that in all such cases it pays penal int...
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