Towers Watson Media

Employee Benefit Updates

  • Towers Watson Media
    India Periodical in English
    This periodical provides latest research, insights and opinion on employee benefits.
    Audience: Finance and HR professionals
    • Showing 1 to 10 of 31 entries
    • EPFO Reduction in Administrative Charges
      In our endeavour to bring the latest updates and notifications in the field of retirement and other long term benefits, we are pleased to share that the Employees' Provident Fund Organisation (EPFO) has further reduced administrative charges levied on un exempted funds.
    • Latest update on Gratuity Amendment Bill
      In a long awaited move, the Lok Sabha passed the Payment of Gratuity (Amendment) Bill (“the Bill”), 2017 without any major alterations. The Bill was originally intended to be tabled in the 2017 Winter Session of Parliament but was pushed to the extended Budget Session in 2018.
    • Employee Benefits Update
      As per the recommendations of the seventh Pay Commission, the Central Government increased the gratuity ceiling applicable to central government employees to INR 20 lakhs (INR 2 Million) in 2016. Earlier this week, the Cabinet approved a bill which proposes a similar amendment for non-Central Government employees.
    • Recent developments around Employees Provident Fund (EPF)
      We would like to update our clients that the EPF rate for the year 2016-17 has been declared to be 8.65%.
    • Portability between Superannuation and NPS
      The Pension Fund Regulatory and Development Authority (PFRDA) has issued a circular dated 6th March 2017 with guidelines in respect of transfers of recognised Provident fund and Superannuation funds to individual National Pension System accounts.
    • Proposed Revision of Gratuity Ceiling
      As you would be aware, the Gratuity limit for central government employees has been raised to Rs. 20 lakh from 1st January 2016, following the recommendations of the 7th Central Pay Commission. A similar proposal for the non-government sector is under consideration.
    • Recent developments around Employees Provident Fund (EPF)
      The Employee Provident Fund Organisation has recommended that the interest rate to members’ account for financial year 2016-17 be 8.65%. This is a reduction from 8.8% last year.
    • Recent developments around Employee State Insurance
      As part of our endeavour to keep our clients informed about latest developments around Social Security schemes, here’s an update on the revision of the limit in Employee State Insurance administered by ESI Corporation.
    • Recent developments around Employees Provident Fund (EPF)
      The final Finance Act 2016 has confirmed the increase in tax limit of Superannuation employer contribution from INR 1 lakh to INR 1.5 lakh before it becomes a perquisite for the employee. This is one of the proposals which was not rolled back from the slew of proposals budget, most of which were rolled back.
    • Recent Developments around Employees Provident Fund (EPF)
      The latest round of change which has been rolled out, is in effect roll back of the earlier proposals, which were issued in February to be effective from 1st May 2016.
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Employee Benefit Updates
This periodical provides latest research, insights and opinion on employee benefits.
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