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  31. <title>Paying Rent Over Rs 50,000? Don’t Ignore TDS</title>
  32. <link>https://teamindia.co.in/paying-rent-over-rs-50000-dont-ignore-tds/</link>
  33. <comments>https://teamindia.co.in/paying-rent-over-rs-50000-dont-ignore-tds/#respond</comments>
  35. <dc:creator><![CDATA[Admin]]></dc:creator>
  36. <pubDate>Sat, 29 Mar 2025 11:34:34 +0000</pubDate>
  37. <category><![CDATA[Blogs]]></category>
  38. <guid isPermaLink="false">https://teamindia.co.in/?p=18421</guid>
  39.  
  40. <description><![CDATA[If you’re paying Rent more than Rs 50,000 a month, be aware —the taxman is watching the Tds pay. Recent reports and messages from the Income Tax Department reveal a crackdown on tenants who’ve skipped deducting TDS on the rent payments. Think of this as a friendly nudge before a not-so-friendly notice lands in your [&#8230;]]]></description>
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  48. <p><img fetchpriority="high" decoding="async" class="alignnone wp-image-18422 size-medium" src="https://teamindia.co.in/wp-content/uploads/2025/03/Hra-claim-e1743247907193-300x179.png" alt="Hra Tds Claim" width="300" height="179" srcset="https://teamindia.co.in/wp-content/uploads/2025/03/Hra-claim-e1743247907193-300x179.png 300w, https://teamindia.co.in/wp-content/uploads/2025/03/Hra-claim-e1743247907193-1024x613.png 1024w, https://teamindia.co.in/wp-content/uploads/2025/03/Hra-claim-e1743247907193-768x459.png 768w, https://teamindia.co.in/wp-content/uploads/2025/03/Hra-claim-e1743247907193-1536x919.png 1536w, https://teamindia.co.in/wp-content/uploads/2025/03/Hra-claim-e1743247907193.png 2048w" sizes="(max-width: 300px) 100vw, 300px" /></p><p>If you’re paying Rent more than Rs 50,000 a month, be aware —the taxman is watching the Tds pay. Recent reports and messages from the Income Tax Department reveal a crackdown on tenants who’ve skipped deducting TDS on the rent payments.</p><p>Think of this as a friendly nudge before a not-so-friendly notice lands in your inbox. Let’s break down what’s happening, why it matters, and how to fix it.</p><h2><strong>The Trigger: Why Rent + TDS = Big News</strong></h2><p>A recent article in <em>The Hindu</em> titled <em>&#8220;Taxpayers defaulting on TDS on rent above Rs. 50,000 get I-T notices&#8221;</em> set off alarm bells. The gist? If you claimed HRA (House Rent Allowance) in your tax returns for 2023–24 or 2024–25 but didn’t deduct TDS on rents over Rs. 50,000/month, you might be next in line for a notice.</p><h3><strong>Section 194-IB: The Rule You Can’t Afford to Miss</strong></h3><p>Here’s the deal: <strong>If your rent crosses Rs. 50,000/month, <em>you</em> (the tenant) must deduct 5% TDS (2% w.e.f Oct 2024 onwards)</strong> (not the landlord). This isn’t a suggestion—it’s law (<em>Section 194-IB</em>). The goal? To ensure landlords report rental income honestly. But if you skip this step, the tax department will come knocking—<em>your</em> door, not the landlord’s.</p><h2><strong>Real-Life Trouble: Meet &#8220;Mr. Ram&#8221;</strong></h2><p>Take our client (let’s call him Mr. Ram). He claimed HRA exemptions worth ₹10+ lakhs but forgot to deduct TDS on his ₹60,000/month rent. The result? A stern message from the IT Department:</p><p><em>&#8220;You claimed HRA but didn’t deduct TDS under Section 194-IB. Rectify this by filing an updated return by March 31, 2025.&#8221;</em></p><p> </p><h2><strong>What Happens If You Ignore TDS on Rent?</strong></h2><ul><li><strong>Penalties</strong>: 1% monthly interest on the unpaid TDS and penalty for late filing Rs.200 per day</li><li><strong>&#8220;Assessee in Default&#8221; status</strong>: A fancy term for &#8220;you’re in trouble.&#8221;</li><li><strong>Landlord’s ITR won’t always save you</strong>: Even if your landlord paid taxes on the rent, <em>you</em> still needed to deduct TDS. Proving their compliance <em>might</em> help, but it’s not a free pass.</li></ul><h3><strong>How to Fix This (Before It’s Too Late)</strong></h3><ol><li><strong>File an Updated Return (Section 139(8A))</strong>: Correct omissions by March 31, 2025.</li><li><strong>Talk to Your Landlord</strong>: Share the TDS certificate (Form 16C) so they can adjust their taxes.</li><li><strong>Keep Records</strong>: Rent receipts, agreements, and TDS proof are your best friends.</li><li><strong>Ask for Help</strong>: If notices flood in, consult a tax pro (<em>like us!</em>).</li></ol><h2><strong>The Family Rent Trap Safe?</strong></h2><p>Many taxpayers &#8220;pay rent&#8221; to family (spouses, parents) to claim HRA and save tax. But beware:</p><ul><li><strong>Clubbing Rules (Section 64)</strong>: If the taxman smells a fake arrangement, your spouse’s/parent’s &#8220;rent income&#8221; could be added to <em>your</em> taxable income.</li><li><strong>Prove It’s Real</strong>: Can you show the property is <em>truly</em> theirs? Is the rent fair for the area? Courts often dismiss sham deals.</li></ul><h2><strong>Bottom Line: Don’t Wait for a Notice</strong></h2><p>The tax department isn’t bluffing—they’re tracking high-value rents closely. If you’ve missed TDS, act <em>now</em>. Update returns, keep paperwork tight, and sleep easy knowing you’re compliant.</p><blockquote><p><strong>Need help?</strong> We’re just a call/message away. Let’s keep your taxes clean and stress-free. <a href="https://prakashaandco.com/income-tax-lawyer-near-me-in-bangalore/">Consult today</a></p></blockquote> </div>
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  61. </item>
  62. <item>
  63. <title>Places for GST Registration Nearby</title>
  64. <link>https://teamindia.co.in/gst-registration-nearby/</link>
  65. <comments>https://teamindia.co.in/gst-registration-nearby/#respond</comments>
  67. <dc:creator><![CDATA[Admin]]></dc:creator>
  68. <pubDate>Thu, 23 Jan 2025 12:09:15 +0000</pubDate>
  69. <category><![CDATA[Blogs]]></category>
  70. <guid isPermaLink="false">https://teamindia.co.in/?p=18379</guid>
  71.  
  72. <description><![CDATA[Best GST Consulting &#38; Filing in Bangalore Is the GST registration service around here worthy? Then Team IN Filing would be the name you hope for the city of Bangalore. It offers cost reduction, easy-going service about GST registration, filing, and compliance. Why Bengaluru Can Be Dug as the Best Reference for GST Registration Services: [&#8230;]]]></description>
  73. <content:encoded><![CDATA[<h2><strong>Best GST Consulting &amp; Filing in Bangalore</strong></h2>
  74. <p>Is the GST registration service around here worthy? Then <strong>Team IN Filing</strong> would be the name you hope for the city of Bangalore. It offers cost reduction, easy-going service about GST registration, filing, and compliance.</p>
  75. <p><img decoding="async" class="alignnone size-medium wp-image-18380" src="https://teamindia.co.in/wp-content/uploads/2025/01/Gstfiling-300x171.png" alt="Gst Registration" width="300" height="171" srcset="https://teamindia.co.in/wp-content/uploads/2025/01/Gstfiling-300x171.png 300w, https://teamindia.co.in/wp-content/uploads/2025/01/Gstfiling.png 597w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  76. <p><strong>Why Bengaluru Can Be Dug as the Best Reference for GST Registration Services:</strong></p>
  77. <h3><strong>GST registration service in Bangalore</strong></h3>
  78. <p>Bangalore now reminds every business person about the above possibilities and innovations. Local experts like Prakasha &amp; Company ease things regarding getting compliances under GST, like &#8211;</p>
  79. <ul>
  80. <li>Accurate Guidance: Both the state and the central GST laws are deep understanding to us.</li>
  81. <li>Accessibility: This is, we have a helpline dedicated to GST that will address any request every hour of every day.</li>
  82. <li>From Start-To-End: We cover all related needs for your GST registration and compliance requirements hassle free.</li>
  83. </ul>
  84. <blockquote><p>So, it is with the professional services of Team IN Filings that all can enjoy seamless GST services across Bangalore at low-cost availability.</p></blockquote>
  85. <p>&nbsp;</p>
  86. <p><strong>Why All Organization Needs GST Registration This Long? </strong></p>
  87. <p><a href="https://prakashaandco.com/gst-registration-in-bangalore-prakash-co/">GST Registration Process Bangalore</a> | Online GST Registration Bangalore | <a href="https://prakashaandco.com/what-is-the-procedure-for-registration-under-gst/">GST Number Registration </a></p>
  88. <p>Near Me GST registration is the mandatory registration businesses require if they have specific annual turnover or inter-state activity. It allows:</p>
  89. <p>&#8211; Capture and compliance to taxation: Business can levy GST on sales.</p>
  90. <p>&#8211; Input Stage Tax Credit: Tax credits can be availed for purchases.</p>
  91. <p>&#8211; Statuary Requirement Compliance: Keeping within all laws of the land. Prakasha and Co. have made the segment of GST registering process efficient in every corner of Bangalore. It does everything from collecting to issuing your GSTIN. the complete end-to-end support by the company even in a case where both online registrations are preferred or in-person assistance is required, is here to guide you.</p>
  92. <p>&nbsp;</p>
  93. <h2><strong>Who Can Get GST Registration in Bangalore? </strong></h2>
  94. <p>GST Registration for Small Businesses in Bangalore | GST for Startups Near Me | GST eligibility Bangalore. GST registration is mandatory for:</p>
  95. <ul>
  96. <li>Businesses with revenues above ₹20 lakh (or ₹10 lakh in special category states).</li>
  97. <li>E-commerce sellers or operators.</li>
  98. <li>Any supplier of goods and services who supplies at least one state other than the one where he is registered for the purposes of GST.</li>
  99. <li>Those wishing to claim input tax credits.</li>
  100. </ul>
  101. <blockquote><p><strong>Team IN Filings guarantees</strong> that your startup small business meets all eligibility standards and compliance under GST.</p></blockquote>
  102. <h2><strong>GST Registration Documentation in Bangalore</strong></h2>
  103. <p>Bangalore GST Registration Documents required for Filing and Proofs required for GST in Bangalore</p>
  104. <p>The following are the major required documents for GST registration:</p>
  105. <ol>
  106. <li>PAN card of the business owner.</li>
  107. <li>Aadhaar card to prove the identity of the owner.</li>
  108. <li>Proof of the address of the business (rental agreement, electricity bill, etc.).</li>
  109. <li>Bank account details (cancelled cheque, passbook or bank statement).</li>
  110. <li>Proprietor/partner photographs.</li>
  111. </ol>
  112. <p><strong>At Team</strong>, they scrutinize all the documents with a view to making them flawless so that no time and energy is wasted in the process of rejections. Registration has never been as easy as it is with Prakasha &amp; Co.</p>
  113. <p>&nbsp;</p>
  114. <p><strong>Here is what, you need to do: </strong></p>
  115. <p>Step 1: Gather Documentations.</p>
  116. <p>Here, you are guided on where to collect important documents.</p>
  117. <p>Step 2: Registration on GST portal.</p>
  118. <p>We do business registrations in the official GST portal.</p>
  119. <p>Step 3: Document verification and upload.</p>
  120. <p>We verify your details and upload your required documents.</p>
  121. <p>Step 4: ARN Issuance.</p>
  122. <p>You are given an Application Reference Number (ARN) to help track your application. Step 5:       GSTIN Granting.</p>
  123. <p>A GST Identification Number (GSTIN) is assigned to you upon approval.</p>
  124. <p>With TEAM, our stepwise support and dedication make it easier to ensure that all of these do not present any difficulties for you in frictionless registration.</p>
  125. <p><strong> </strong></p>
  126. <p><strong>General Evaders GST Registration Challenges</strong></p>
  127. <p>GST Problems Bangalore: <a href="https://prakashaandco.com/contact-us/">Contact Us</a> | GST Advisory Services Bangalore for any issue relating to GST. Challenges in GST Registrations are:</p>
  128. <ul>
  129. <li>Document Errors: Misdo submission or incomplete.</li>
  130. <li>Problems with Those Having Technical Issues with the Portal: Process error or delay in GST portal.</li>
  131. <li>Delay in Verification: Due to Invalid data, long time processing taken for approval.</li>
  132. </ul>
  133. <blockquote><p>Team IN Filings. Troubleshooters are proactive solutions-takers to make your application accurate and free of errors.</p></blockquote>
  134. <p><strong>Benefits of Professional GST Registration Services. </strong></p>
  135. <p>Best GST Consultant Bangalore | <a href="https://prakashaandco.com/top-10-gst-consultants-in-india/">Affordable GST Services Near Me</a> | Professional GST Filing Bangalore</p>
  136. <p>It has time-saving solutions so that you keep to the business while we take care of compliance. Reasonable Pricing-incomprehensible cost upon which the rates are transparent. In addition to that, expert advice is obtained from years of experience-professionals in GST Compliance for 15 years and above.</p>
  137. <h2><strong>Catch here why the businesses trust us:</strong></h2>
  138. <p>&#8211; Fast Services: Talk <a href="https://teamindia.co.in/management-team/">about us</a> your GSTIN in record time. &#8211; Affordable Packages: The best affordable packages suited without ruining the pockets of start-up companies, small businesses, and corporate giants. Knowledge Base with Locals: Deep understanding with the business scenario in Bangalore creating customized solutions for each and every customer. With Team IN Filings. you are totally assured of accounting accurate, timely, and trusted services for GST.</p>
  139. <h2><strong>FAQ about GST Registration Near Me</strong></h2>
  140. <p>GST Registration Cost in Bangalore | How to Register for GST in Bangalore | Free Consultation for GST Near Me</p>
  141. <p>Q1: <strong>What is the average time for GST registration process?</strong></p>
  142. <p>It usually takes between 3 and 7 working days for GST registration, but it can be expedited or delayed depending on the availability of the documents.</p>
  143. <p>Q2: <strong>What is the cost of GST registration in Bangalore?</strong></p>
  144. <p>Our Packages start at Rs 1499, including document verification and professional consultation.</p>
  145. <p>Q3: <strong>Is the registration for GST mandatory if turnover is below Rs 20 Lakhs?</strong></p>
  146. <p>Yes, but it is mandatory for inter-state suppliers and e-commerce suppliers.</p>
  147. <blockquote><p>Contact Team IN Filings today for quality service on GST registration services in Bangalore. They offer affordable packages, and put you in touch with expert consultants and end-to-end solutions so that your compliance problems with GST are solved quickly without fuss.</p></blockquote>
  148. <p>now call 7019827351, for a free Gst consultation and find out what works best for your <a href="https://teamindia.co.in/gst-service-in-bangalore/">GST Filings</a>.</p>
  149. ]]></content:encoded>
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  152. <slash:comments>0</slash:comments>
  155. </item>
  156. <item>
  157. <title>NGO DARPAN how to get?</title>
  158. <link>https://teamindia.co.in/ngo-darpan-how-to-get/</link>
  159. <comments>https://teamindia.co.in/ngo-darpan-how-to-get/#respond</comments>
  161. <dc:creator><![CDATA[Admin]]></dc:creator>
  162. <pubDate>Mon, 20 Jan 2025 05:41:52 +0000</pubDate>
  163. <category><![CDATA[Blogs]]></category>
  164. <guid isPermaLink="false">https://teamindia.co.in/?p=18374</guid>
  165.  
  166. <description><![CDATA[NGO DARPAN NGO DARPAN is an instrument from NITI Aayog part of Government to facilitate smooth exchange information among NGO and other Government bodies. For those who are looking Government Grant, subsidy benefits etc, you must Register your NGO as DARPAN Registration at DARPAN Portal, this is mandatory to keep your NGO bank active, to [&#8230;]]]></description>
  167. <content:encoded><![CDATA[<h2>NGO DARPAN</h2>
  168. <p>NGO DARPAN is an instrument from <strong>NITI Aayog</strong> part of Government to facilitate smooth exchange information among NGO and other Government bodies. For those who are looking Government Grant, subsidy benefits etc, you must Register your NGO as DARPAN Registration at DARPAN <a href="https://ngodarpan.gov.in/">Portal</a>, this is mandatory to keep your NGO bank active, to utilize the government grants received.</p>
  169. <p><img decoding="async" class="alignnone size-medium wp-image-18375" src="https://teamindia.co.in/wp-content/uploads/2025/01/Ngodarpan-300x176.png" alt="NGO DARPAN" width="300" height="176" srcset="https://teamindia.co.in/wp-content/uploads/2025/01/Ngodarpan-300x176.png 300w, https://teamindia.co.in/wp-content/uploads/2025/01/Ngodarpan-768x450.png 768w, https://teamindia.co.in/wp-content/uploads/2025/01/Ngodarpan.png 1025w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  170. <h2><strong>When Is NGO DARPAN Not Required?</strong></h2>
  171. <p>There are a few scenarios where registration might not be necessary:</p>
  172. <ul>
  173. <li>NGOs that operate at a very <strong>local level</strong> and do not seek government support or grants.</li>
  174. <li><span style="font-size: 16px;">Organizations that rely solely on </span><strong style="font-size: 16px;">private funding</strong><span style="font-size: 16px;"> and are not concerned with government bodies.</span></li>
  175. </ul>
  176. <h2><strong>Who should use NGO DARPAN?</strong></h2>
  177. <p>NGO&#8217;s involved in public services in large such as education, healthcare, social welfare, environmental conservation, women’s empowerment, rural development, and disaster relief can significantly benefit from NGO DARPAN registration.</p>
  178. <h3><strong>What are the DARPAN benefits?: </strong></h3>
  179. <p>The DARPAN portal helps NGOs, who wish to work with the Government of India. Here are some of the benefits:</p>
  180. <h3><strong>Access to Government Grants </strong></h3>
  181. <ul>
  182. <li>Registration gives a unique ID to claim the government grant, and other funding programs.</li>
  183. <li>Details of the central and state government schemes which to be benefited from are also shared with the NGOs as and when they are launched.</li>
  184. </ul>
  185. <p><strong>More Credible: </strong></p>
  186. <ul>
  187. <li>Registration with NGO DARPAN brings more transparency and credibility, making it easier to attract government ministries, private organizations, and donors.</li>
  188. <li><span style="font-size: 16px;">Government regulation compliance of the NGO is highlighted by this.</span></li>
  189. </ul>
  190. <p><strong>Direct Engagement with Government Departments:</strong></p>
  191. <ul>
  192. <li>The NGO is now in direct contact with the Ministry and Department of Government of India in order to take up partnership and support.</li>
  193. <li>Communication channels will be a smaller number of, therefore simpler.</li>
  194. </ul>
  195. <p><strong>Improved Visibility: </strong></p>
  196. <p>On registration, the NGO would fall in the official database of NGO DARPAN. Consequently, it will lead to a greater online reach and awareness in relation to the government, private sector, and potential funders.</p>
  197. <p><strong>Information on a Single Platform: </strong></p>
  198. <p>This will allow the NGOs to access the content of much of the latest information on different policies, schemes and guidelines to a single repository that will be very useful for their work.</p>
  199. <p><strong> Recognition for Credible NGOs:</strong></p>
  200. <p>The portal actually benefits to certify the active legitimate NGOs from the noneffective and the unlawful NGOs and benefit the ecosystem more and more for collaboration.</p>
  201. <p><strong>Makes Foreign Funding Necessary: </strong></p>
  202. <p>Although NGO DARPAN does not provide foreign funding approvals, it is the initial process to acquire FCRA registration for NGOs wanting foreign funds.</p>
  203. <p><strong>Productivity Administration:</strong></p>
  204. <ul>
  205. <li>The portal digitizes records that make updating them easy, compliance avoids the tedious paperwork associated with manual systems.</li>
  206. <li>The process significantly facilitates auditing and support application verification tasks.</li>
  207. </ul>
  208. <p><strong>Opportunity Networking: </strong></p>
  209. <p>NGOs can also be connected to other organizations which are present on this platform, and hence be able to benefit and contribute in turn to learning and sharing between each other.</p>
  210. <p><strong>Transparency and Accountability: </strong></p>
  211. <ul>
  212. <li>This ensures transparency by making the uploading of registration certificates, audited financial statements, and information about office bearers a requirement.</li>
  213. <li>It increases the confidence of the antemortem donor, and assists in subsequent govt review of funds.</li>
  214. <li>Requirements by Banks: Financial institutions are now by law forcing upon the NGOs the registration on the DARPAN in order to keep their bank accounts provision of services in an active status.</li>
  215. </ul>
  216. <p><strong>Limitations without DARPAN</strong></p>
  217. <ul>
  218. <li>NGOs that do not register on the NGO DARPAN portal may encounter a number of restrictions, particularly with respect to obtaining government facilities alongside building legitimacy. Following are the possible consequences of failing to register with NGO DARPAN:</li>
  219. </ul>
  220. <p><strong>Ineligibility for Government Grants and Schemes:</strong></p>
  221. <ul>
  222. <li>The Unique ID provided by the NGO DARPAN is a requirement for Central government grants and funding schemes.</li>
  223. <li>In the absence of registration, the NGO is unable to access a number of government-funded projects, partnerships or schemes.</li>
  224. </ul>
  225. <blockquote><p><strong>Boost Your NGO&#8217;s Credibility with DARPAN Registration</strong></p>
  226. <p>Partner with Team IN Filings to get your your eligibility for government schemes and CSR funding. Contact our <a href="https://prakashaandco.com/legal-services/">Legal House</a> to advise you best.</p>
  227. <p>&nbsp;</p></blockquote>
  228. <p><strong>Limited Recognition and Credibility:</strong></p>
  229. <ul>
  230. <li>Registration on NGO DARPAN lends legitimacy to an NGO. Without it the organisation could be unable to build trust with:
  231. <ul>
  232. <li>Government bodies.</li>
  233. <li>Private donors.</li>
  234. <li>Corporates (e.g., for CSR funding).</li>
  235. </ul>
  236. </li>
  237. <li>Donors and partners very frequently take NGO DARPAN registration to be something transparent and compliant<strong>.</strong></li>
  238. </ul>
  239. <p><strong>Restricted Opportunities for Collaboration: </strong></p>
  240. <p>Government ministries and departments tend to work with NGOs listed on the portal. Having no registration, the NGO might not be able to take advantage of such collaborations.</p>
  241. <p><strong>Challenges in Applying for FCRA Registration</strong></p>
  242. <ul>
  243. <li>NGO DARPAN registration is often seen as a prerequisite for applying for FCRA (Foreign Contribution Regulation Act) clearance, which is required to receive foreign funds.</li>
  244. <li>NGO cannot receive foreign donations legally in India unless the NGO is registered under FCRA.</li>
  245. </ul>
  246. <p><strong>Missed Visibility and Networking Opportunities: </strong></p>
  247. <ul>
  248. <li>NGO DARPAN offers a platform for charities to achieve visibility and connect with:.</li>
  249. </ul>
  250. <ul>
  251. <li>Other NGOs like <a href="https://teamindia.co.in/team-india-foundation/">Team INDIA Foundation</a>.</li>
  252. <li>Government agencies.</li>
  253. <li>Private stakeholders.</li>
  254. </ul>
  255. <ul>
  256. <li>An NGO that is not registered misses out on opportunities to showcase its work and network for potential collaborations.</li>
  257. </ul>
  258. <p><strong>Increased Scrutiny During Audits:</strong></p>
  259. <ul>
  260. <li>Government agencies and private charitable bequests are more likely to support organizations with documented history. Absence from DARPAN registration would leave the NGO in trouble during the financial or compliance audit process.</li>
  261. </ul>
  262. <p><strong>Lack of Transparency:</strong></p>
  263. <ul>
  264. <li>NGOs that are not registered on NGO DARPAN may appear less transparent, especially since the portal requires details like:.</li>
  265. </ul>
  266. <ul>
  267. <li>Registration documents.</li>
  268. <li>PAN details.</li>
  269. <li>Information about office bearers.</li>
  270. </ul>
  271. <ul>
  272. <li>This opacity can undermine confidence amongst prospective donors and beneficiaries.</li>
  273. </ul>
  274. <p><strong>Non-Compliance with Government Guidelines:</strong></p>
  275. <p>Government policies are starting to actively foster registration of NGOs with NGO DARPAN as a benchmark for NGOs&#8217; involvement. Failure to register might make an NGO look unprofessional or non-professional.</p>
  276. <p>&nbsp;</p>
  277. <blockquote><p><strong>Your first step for Government Grants</strong></p>
  278. <p>Join the list of NGOs we&#8217;ve provided free DARPAN registration. Strengthen your funding prospects with Team IN Filings today</p></blockquote>
  279. <p>&nbsp;</p>
  280. <h2><strong>guide for NGO DARPAN registration</strong></h2>
  281. <p><strong>Step 1: Prepare the Required Documents: </strong></p>
  282. <p><strong>Please make sure that you have the following:.</strong></p>
  283. <p><u>NGO Details like: </u></p>
  284. <ul>
  285. <li>Name, Address, Email, and Phone Number.</li>
  286. <li>PAN card details of the NGO.</li>
  287. </ul>
  288. <p><u>Details of Office Bearers/Trustees:</u></p>
  289. <ul>
  290. <li>Name, Date of Birth, Designation, Aadhaar Numbers, and PAN.</li>
  291. </ul>
  292. <ul>
  293. <li><strong>Registration Certificate of NGO: </strong></li>
  294. </ul>
  295. <ul>
  296. <li>Document of NGO registration pursuant to existing laws (for example, Societies Registration Act, Trust Act, etc. ).</li>
  297. </ul>
  298. <ul>
  299. <li><strong>Annual Reports and Audited Accounts (if its required).</strong></li>
  300. </ul>
  301. <p><strong>Step 2: Create the Login Credentials next:</strong></p>
  302. <ul>
  303. <li><u>Visit the official </u><a href="https://ngodarpan.gov.in/">NGO DARPAN Portal</a><u>.</u></li>
  304. </ul>
  305. <ul>
  306. <li>NGO DARPAN Portal.</li>
  307. <li>Click on Sign Up to create a new account.</li>
  308. </ul>
  309. <ul>
  310. <li><u>Then provide the following details: </u></li>
  311. </ul>
  312. <ul>
  313. <li>NGO Name.</li>
  314. <li>Email ID (a valid and active email address).</li>
  315. <li>Mobile number (linked to the NGO/Trust).</li>
  316. <li>Captcha code for verification.</li>
  317. </ul>
  318. <ul>
  319. <li>On &#8220;Register&#8221; option, OTP will be generated and sent to your registered mobile phone number and email.</li>
  320. <li>Verify using the OTP to complete the account setup process.</li>
  321. </ul>
  322. <p><strong>Step 3: Fill in NGO Profile</strong></p>
  323. <ul>
  324. <li>Log in using your credentials.</li>
  325. <li><u>Fill in the NGO profile details:-</u></li>
  326. </ul>
  327. <ul>
  328. <li>General details of the organization (address, mission, etc. ).</li>
  329. <li>Details of key functionaries (President, Secretary, Treasurer).</li>
  330. </ul>
  331. <ul>
  332. <li>Upload scanned copies of:</li>
  333. </ul>
  334. <ul>
  335. <li>Registration Certificate.</li>
  336. <li>PAN of the NGO.</li>
  337. <li>Other required documents.</li>
  338. </ul>
  339. <p><strong>Step 4: Link Aadhaar with NGO DARPAN</strong></p>
  340. <ul>
  341. <li>Make the Aadhaar number of the primary office bearer (e.g., President or Secretary) get associated with the profile.</li>
  342. <li>Aadhaar verification is mandatory for authentication purposes.</li>
  343. </ul>
  344. <p><strong>Step 5: Submit and Obtain Unique ID</strong></p>
  345. <ul>
  346. <li>Performing all the required filling out of fields after uploading data and documents, click Submit.</li>
  347. <li><span style="font-size: 16px;">After approval, you will be provided a Unique ID of the NGO, which is a key for any government grants or scheme.</span></li>
  348. </ul>
  349. <p><strong>Important Points to Note</strong></p>
  350. <ul>
  351. <li>Mandatory for Grants: NGOs desiring to claim central government grants are required to hold an NGO DARPAN Unique ID.</li>
  352. <li>Updates: Keep the profile updated with the latest details to avoid any disqualification during grant application processes.</li>
  353. <li>Support: For queries, contact our team <a href="https://www.bing.com/ck/a?!&amp;&amp;p=5b546b22906f01d8744827c932eab02f0a51b226d209358dd8e232aac4d8f70fJmltdHM9MTczNjAzNTIwMA&amp;ptn=3&amp;ver=2&amp;hsh=4&amp;fclid=1f21cc59-6436-6415-045b-d96c659b6513&amp;psq=team+in+fiolling&amp;u=a1aHR0cHM6Ly90ZWFtaW5kaWEuY28uaW4v&amp;ntb=1">Team IN Filings</a>.</li>
  354. </ul>
  355. <p><strong>Get CSR Funding Opportunities.</strong></p>
  356. <p>Team IN Filings has empowered many NGO&#8217;s and Section 8 companies to access government grants and CSR funds through simple steps from NGO DARPAN registration.</p>
  357. <p>Let us help you achieve your service objective,</p>
  358. <p>Contact <strong>Team IN Filings</strong> Bangalore at 7019827351 or email us at eassociatesindia@gmail.com, sahakarnagar, Bangalore 560092.</p>
  359. ]]></content:encoded>
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  362. <slash:comments>0</slash:comments>
  365. </item>
  366. <item>
  367. <title>MSME Udyam Registration</title>
  368. <link>https://teamindia.co.in/msme-udyam-registration/</link>
  369. <comments>https://teamindia.co.in/msme-udyam-registration/#respond</comments>
  371. <dc:creator><![CDATA[Admin]]></dc:creator>
  372. <pubDate>Sat, 18 Jan 2025 05:51:21 +0000</pubDate>
  373. <category><![CDATA[Blogs]]></category>
  374. <guid isPermaLink="false">https://teamindia.co.in/?p=18370</guid>
  375.  
  376. <description><![CDATA[How to get MSME Udyam Aadar? The term &#8220;MSME Udyam Registration&#8221; refers to the registration process for Micro, Small, and Medium Enterprises (MSME). It allows businesses to get recognized by the Government and avail various benefits and schemes. Why Register as an MSME? Access to Government subsidies and schemes. Easier loan approvals and lower interest [&#8230;]]]></description>
  377. <content:encoded><![CDATA[<h2>How to get MSME Udyam Aadar?</h2>
  378. <p>The term <strong>&#8220;MSME Udyam Registration&#8221;</strong> refers to the registration process for Micro, Small, and Medium Enterprises (MSME). It allows businesses to get recognized by the Government and avail various benefits and schemes.</p>
  379. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18371" src="https://teamindia.co.in/wp-content/uploads/2025/01/msmeudya-300x214.png" alt="MSME Udyam Registration" width="300" height="214" srcset="https://teamindia.co.in/wp-content/uploads/2025/01/msmeudya-300x214.png 300w, https://teamindia.co.in/wp-content/uploads/2025/01/msmeudya-768x548.png 768w, https://teamindia.co.in/wp-content/uploads/2025/01/msmeudya.png 1018w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  380. <h2><strong>Why Register as an MSME?</strong></h2>
  381. <ul>
  382. <li>Access to Government subsidies and schemes.</li>
  383. <li>Easier loan approvals and lower interest rates.</li>
  384. <li>EMD free in the online Tender</li>
  385. <li>Discount in the Government application charges.</li>
  386. <li>Protection under the MSME Act for delayed payments.</li>
  387. </ul>
  388. <p><strong> </strong></p>
  389. <h3><strong>MSME Key Components:</strong></h3>
  390. <p>&nbsp;</p>
  391. <ol>
  392. <li><strong> MSME (Micro, Small, Medium Enterprises)</strong></li>
  393. </ol>
  394. <ul>
  395. <li>MSMEs are classified into three categories based on investment in plant/machinery and turnover:
  396. <ul>
  397. <li><strong>Micro Enterprises:</strong> Investment ≤ ₹1 crore; Turnover ≤ ₹5 crore.</li>
  398. <li><strong>Small Enterprises:</strong> Investment ≤ ₹10 crore; Turnover ≤ ₹50 crore.</li>
  399. <li><strong>Medium Enterprises:</strong> Investment ≤ ₹50 crore; Turnover ≤ ₹250 crore.</li>
  400. </ul>
  401. </li>
  402. </ul>
  403. <ol start="2">
  404. <li><strong> Udyam Aadhaar</strong></li>
  405. </ol>
  406. <ul>
  407. <li>Udyam Aadhaar (or <strong>Udyam Registration</strong>) replaced the earlier <strong>Udyog Aadhaar</strong> system.</li>
  408. <li>It&#8217;s a simplified registration for MSMEs launched by the <strong>Ministry of MSME</strong>.</li>
  409. <li>Udyam Aadhaar requires linking your <strong>Aadhaar Card</strong> with your business details.</li>
  410. </ul>
  411. <p><strong> </strong></p>
  412. <h2><strong>MSME Registration Checklist</strong></h2>
  413. <ol>
  414. <li><strong>Aadhaar Card:</strong> The Aadhaar number of the business owner or authorized signatory is mandatory.
  415. <ul>
  416. <li>For proprietorship: Aadhaar of the proprietor.</li>
  417. <li>For partnership firms: Aadhaar of the managing partner.</li>
  418. <li>For companies: Aadhaar of the authorized signatory.</li>
  419. </ul>
  420. </li>
  421. <li><strong>PAN Card:</strong> Ensure your PAN is linked to your Aadhaar (mandatory for tax purposes).</li>
  422. <li><strong>Business Details:</strong>
  423. <ul>
  424. <li>Name and type of your enterprise.</li>
  425. <li>Bank account details (account number, IFSC).</li>
  426. </ul>
  427. </li>
  428. <li><strong>GST Number (if applicable):</strong>
  429. <ul>
  430. <li>GSTIN is required if your business is liable for GST registration.</li>
  431. </ul>
  432. </li>
  433. <li><strong>Details About Activities:</strong>
  434. <ul>
  435. <li>Nature of business: Manufacturing, services, or both.</li>
  436. <li>Number of employees, investments in machinery, and annual turnover.</li>
  437. </ul>
  438. </li>
  439. </ol>
  440. <p><strong> </strong></p>
  441. <h2><strong>Steps to Register for Udyam Aadhaar</strong></h2>
  442. <p>&nbsp;</p>
  443. <ol>
  444. <li><strong>Visit the Udyam Registration Portal:</strong></li>
  445. </ol>
  446. <ul>
  447. <li>Go to the official site: <strong><a href="https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm"> Click on</a> “For New Entrepreneurs”</strong></li>
  448. </ul>
  449. <ul>
  450. <li>If you&#8217;re registering for the first time, select the option for new registrations.</li>
  451. </ul>
  452. <ol start="3">
  453. <li><strong> Enter Aadhaar Details</strong></li>
  454. </ol>
  455. <ul>
  456. <li>Enter the Aadhaar number and the name as per the Aadhaar card.</li>
  457. <li>Verify using the OTP sent to your registered mobile number.</li>
  458. </ul>
  459. <ol start="4">
  460. <li><strong> Provide Business Information</strong></li>
  461. </ol>
  462. <ul>
  463. <li>Business name, address, type of organization (proprietorship, partnership, company, etc.).</li>
  464. <li>Fill in your social category (General, SC, ST, OBC).</li>
  465. <li>Mention your gender.</li>
  466. </ul>
  467. <ol start="5">
  468. <li><strong> Enter PAN and GST Details</strong></li>
  469. </ol>
  470. <ul>
  471. <li>For businesses that require PAN and GST, enter these details.</li>
  472. <li>If you&#8217;re not liable to register for GST, you can proceed without GSTIN.</li>
  473. </ul>
  474. <ol start="6">
  475. <li><strong> Investment and Turnover Details</strong></li>
  476. </ol>
  477. <ul>
  478. <li>Mention:
  479. <ul>
  480. <li>Investment in plant, machinery, or equipment.</li>
  481. <li>Annual turnover, if ITR already been filed,this will auto updated.</li>
  482. </ul>
  483. </li>
  484. </ul>
  485. <ol start="7">
  486. <li><strong> Declaration</strong></li>
  487. </ol>
  488. <ul>
  489. <li>Confirm the details you&#8217;ve entered and submit the application.</li>
  490. </ul>
  491. <ol start="8">
  492. <li><strong> Receive Udyam Registration Certificate</strong></li>
  493. </ol>
  494. <ul>
  495. <li>Upon successful verification, you’ll receive your <strong>Udyam Certificate</strong> via email.</li>
  496. <li>This certificate contains a unique <strong>Udyam Registration Number (URN)</strong>.</li>
  497. </ul>
  498. <p>&nbsp;</p>
  499. <h2><strong>Benefits of Udyam Aadhaar</strong></h2>
  500. <ul>
  501. <li>Access to <strong>government schemes</strong> like subsidies, loans, and incentives.</li>
  502. <li>Easier access to <strong>bank credit</strong> with lower interest rates.</li>
  503. <li>Eligibility for <strong>priority sector lending</strong>.</li>
  504. <li>Protection against delayed payments under the MSME Act.</li>
  505. </ul>
  506. <p><strong>Important update:</strong></p>
  507. <p>Udyam Aadhaar registration depends on the mobile number linked to your Aadhaar. OTP verification is mandatory during the process. make sure your Aadhaar has the updated mobile number. This will help avoid delays and complete the MSME registration.</p>
  508. <p><strong>Cost:</strong> Team IN Filings charges Rs.1000 for MSME UDYAM Aadar Registration.</p>
  509. <p><strong>Time:</strong> Team IN Filings provide your MSME UDYAM Aadar Registration in One Day only.</p>
  510. <p>&nbsp;</p>
  511. <p><strong>Why Choose Team for MSME Registration?</strong></p>
  512. <ul>
  513. <li><strong>Hassle-Free Process</strong>: We handle everything from start to finish.</li>
  514. <li><strong>Expert Guidance</strong>: Our team ensures all details are accurate and compliant with government requirements.</li>
  515. <li><strong>Quick Registration</strong>: Get your MSME certificate fast without any confusion.</li>
  516. </ul>
  517. <blockquote><p><strong>Let Simplify Your MSME Registration</strong></p>
  518. <p>At <a href="https://teamindia.co.in/ca-bangalore/">Team IN Filings</a>, we ensure hassle-free MSME Udyam registration and provide expert guide for all your MSME needs, including compliance, tax filings, and government scheme applications. Save time, avoid errors, and enjoy personalized guidance from our experienced team of CA and Advocates.</p>
  519. <p><strong>Contact Us Today</strong><br />
  520. Phone: +91-7019827351 | Email: team@teamindia.co.in<br />
  521. Let us help you unlock the full potential of your MSME scheme related Loan from Banks, and other benefits to you to grow your business.</p></blockquote>
  522. ]]></content:encoded>
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  525. <slash:comments>0</slash:comments>
  528. </item>
  529. <item>
  530. <title>Workplace sexual harassment prevention POSH Act</title>
  531. <link>https://teamindia.co.in/workplace-sexual-harassment-prevention-posh-act/</link>
  532. <comments>https://teamindia.co.in/workplace-sexual-harassment-prevention-posh-act/#respond</comments>
  534. <dc:creator><![CDATA[Admin]]></dc:creator>
  535. <pubDate>Wed, 11 Dec 2024 12:56:47 +0000</pubDate>
  536. <category><![CDATA[Blogs]]></category>
  537. <guid isPermaLink="false">https://teamindia.co.in/?p=18359</guid>
  538.  
  539. <description><![CDATA[Workplace Culture Workplace sexual harassment prevention POSH Act enabled to safeguard the women. The workplace culture refers to the shared values, beliefs, attitudes, and behaviours that shape the social and psychological environment of a workplace. The workplace involves employees interacting with one another, their approach to work, and the organization&#8217;s overarching mission and values. The [&#8230;]]]></description>
  540. <content:encoded><![CDATA[<p><strong>Wo</strong><strong>rkplace Culture</strong></p>
  541. <p>Workplace sexual harassment prevention <strong>POSH Act</strong> enabled to safeguard the women. The workplace culture refers to the shared values, beliefs, attitudes, and behaviours that shape the social and psychological environment of a workplace.</p>
  542. <p>The workplace involves employees interacting with one another, their approach to work, and the organization&#8217;s overarching mission and values.</p>
  543. <p>The workplace harassments are be controlled and prevented by certain laws. <a href="https://doe.gov.in/files/inline-documents/DoE_Prevention_sexual_harassment.pdf">Read it though</a> so you can safeguard yourself or your colleagues.</p>
  544. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18360" src="https://teamindia.co.in/wp-content/uploads/2024/12/poshpolicyImage-300x205.png" alt="POSH" width="300" height="205" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/poshpolicyImage-300x205.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/poshpolicyImage-768x524.png 768w, https://teamindia.co.in/wp-content/uploads/2024/12/poshpolicyImage.png 1024w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  545. <h2><strong>POSH Importance for Companies:</strong></h2>
  546. <ul>
  547. <li>Better Reputation: When the company complies with the POSH Act, they gain more trust from the internal people, customers, and society as a whole, which makes the brand image of the company better and more trustworthy.</li>
  548. <li>Decreased Legal Liabilities: It tries to minimize the chances of being dragged into lawsuits and hefty fines, thus helping to save costs and ensure the company finances remain healthy and there&#8217;s no reputational damage.</li>
  549. <li>Better Employee Retention: Employees stick to the organization under favourable and safe working conditions. Therefore, enhanced employee retention has reduced turnover and recruitment costs.</li>
  550. <li>Productive Workforce: Contributes to greater teamwork and collaboration, thus resulting in a much more productive workforce.</li>
  551. </ul>
  552. <h3><strong>POSH Advantage for Employees: </strong></h3>
  553. <ul>
  554. <li>Improved Job Satisfaction: It instils a kind of fright and creates loneliness into them, thus model will help them realize and escape from this hopeless atmosphere which will lead to higher morale and job satisfaction.</li>
  555. <li>Productivity: They are free to work without acts of harassment or discrimination with them, resulting in better output and engagement.</li>
  556. <li>Empowerment: It creates an enabling environment for both; it clearly states the employee&#8217;s rights to raise concerns regarding any acts of sexual harassment with the comfort that no retaliatory action would be taken against him/her.</li>
  557. <li>Awareness and Education: Awareness and education to employees help them identify their rights and responsibilities as well as bring them to a more improved level of performance with confidence while dealing with workplace dynamics.</li>
  558. </ul>
  559. <h3><strong>Nationwide:</strong></h3>
  560. <ul>
  561. <li>Equality and Justice to All: Define that it is found within the Act the establishment of the frame of reference for respect for diversity and gender equality into potential offending behaviours in the societal context.</li>
  562. <li>Equal Employment: Safer workplaces will, at some time in the future, be adopted by women and other marginal groups in society and will involve them in the development task.</li>
  563. <li>Cultural Change: Citizens will have to be able to have such sensitization at the point of having common respect and justice and the way against harassment.</li>
  564. </ul>
  565. <p>&nbsp;</p>
  566. <p>&nbsp;</p>
  567. <table>
  568. <tbody>
  569. <tr>
  570. <td width="262"><strong> </strong></p>
  571. <p><strong>Harassment of women employees</strong></td>
  572. <td width="293"><strong> </strong></p>
  573. <p><strong>     Harassment of male employee</strong></td>
  574. </tr>
  575. <tr>
  576. <td style="text-align: center;" width="262">                  POSH Act <a href="https://wcd.gov.in/documents/legislations">here</a>*</td>
  577. <td style="text-align: center;" width="293"><strong> </strong>        General laws IPC (No special laws)</td>
  578. </tr>
  579. </tbody>
  580. </table>
  581. <p><strong> </strong></p>
  582. <h3><strong>POSH and Vishaka committee</strong></h3>
  583. <p>The Vishaka Committee comes from a significant moment in India&#8217;s legal history, triggered by the <strong>1997 Vishaka case</strong>. This case involved a social worker named Vishaka who was sexually assaulted by a government staff. There were no clear laws to protect women in the workplace from sexual harassment at the time, so the Supreme Court took action. The Court laid out a set of guidelines, called the<strong> Vishaka Guidelines</strong>, to create a framework to safeguard women at work. These guidelines formed the foundation of the <strong>Prevention of Sexual Harassment (POSH)</strong> Act later on.</p>
  584. <p><strong> </strong></p>
  585. <h2><strong>Why POSH Act created?</strong></h2>
  586. <p>Imagine you go to work every day, putting in effort, trying to do your best. But sometimes, workplaces can become uncomfortable or even unsafe due to harassment—comments, gestures, or actions that make you feel disrespected or scared. The POSH Act was created to make sure that no one has to face this at work, and if someone does, there are clear and structured ways to address it.</p>
  587. <h2><strong>ICC Committee: </strong></h2>
  588. <p>The <strong>Internal Complaints Committee</strong> (ICC) is a key feature of the Prevention of Sexual Harassment (POSH) Act, 2013. The purpose of the ICC is to handle complaints related to sexual harassment at the workplace and to provide a safe and secure environment for employees, particularly women, to report any incidents of harassment.</p>
  589. <p><strong>                             </strong></p>
  590. <p><strong> </strong></p>
  591. <h2><strong>Purpose of Internal Complaints Committee:</strong></h2>
  592. <ul>
  593. <li>To create awareness</li>
  594. <li>To address complaints</li>
  595. <li>To put an end to harassment</li>
  596. </ul>
  597. <p>The ICC plays a vital role in upholding the <strong>fundamental rights</strong> of employees, particularly women, to work in a <strong>safe and secure environment</strong> free from sexual harassment. It ensures <strong>gender equality</strong> and <strong>fair treatment</strong> at the workplace by providing a structured, legal process to address complaints of harassment. The Internal Complaints Committee (ICC) is crucial for implementing the POSH Act at the workplace and handling complaints of sexual harassment.</p>
  598. <p><strong>POSH Committee: </strong>Will be constituted by an order of Internal Complaint Committee (ICC) under Sexual Harassment at Workplace (Prevention, Prohibition and Redressal) Act, 2013 preferably headed by a woman member of the organisation.</p>
  599. <p><strong> </strong></p>
  600. <table width="548">
  601. <tbody>
  602. <tr>
  603. <td width="42"><strong>#</strong></td>
  604. <td width="162"><strong>Employee Name</strong></td>
  605. <td width="162"><strong>Designation</strong></td>
  606. <td width="182"><strong>Remarks</strong></td>
  607. </tr>
  608. <tr>
  609. <td width="42">1</td>
  610. <td width="162"></td>
  611. <td width="162"></td>
  612. <td width="182"></td>
  613. </tr>
  614. <tr>
  615. <td width="42">2</td>
  616. <td width="162"></td>
  617. <td width="162"></td>
  618. <td width="182"></td>
  619. </tr>
  620. <tr>
  621. <td width="42">3</td>
  622. <td width="162"></td>
  623. <td width="162"></td>
  624. <td width="182"></td>
  625. </tr>
  626. <tr>
  627. <td width="42">4</td>
  628. <td width="162"></td>
  629. <td width="162"></td>
  630. <td width="182"></td>
  631. </tr>
  632. <tr>
  633. <td width="42">5</td>
  634. <td width="162"></td>
  635. <td width="162">Investigating Member</td>
  636. <td width="182"></td>
  637. </tr>
  638. </tbody>
  639. </table>
  640. <p>&nbsp;</p>
  641. <p>&nbsp;</p>
  642. <h2><strong>Explanation of POSH Act (scenario basis):</strong></h2>
  643. <p>Ms Aishwarya and <strong>Mr Abhishek</strong> are employees in an organisation, if Aishwarya feels that she has been harassed by Abhishek, she can sue Abhishek by following steps.</p>
  644. <p><strong>Document the certain Incident detailed </strong></p>
  645. <ul>
  646. <li>Write down the details of the incident(s) clearly and concisely:
  647. <ul>
  648. <li>Date, time, and location.</li>
  649. <li>Nature of the harassment whether it is (physical or verbal).</li>
  650. <li>Name(s) of the harasser(s).</li>
  651. <li>Names any of the witnesses it also includes supporting evidence like emails, texts, photos, or recordings (voice, visual) .</li>
  652. </ul>
  653. </li>
  654. </ul>
  655. <h3><strong> Identify the Internal Complaints Committee (ICC)</strong></h3>
  656. <ul>
  657. <li>Confirm if your organization has an <strong>Internal Complaints Committee (ICC)</strong> which is responsible for handling complaints related to workplace sexual harassment.</li>
  658. <li>If your workplace has fewer than 10 employees, or no ICC exists, you can approach the <strong>Local Complaints Committee (LCC)</strong> in your district.</li>
  659. </ul>
  660. <h2><strong> File a Written Complaint</strong></h2>
  661. <ul>
  662. <li>Submit a written complaint to the <strong>Presiding Officer of the ICC</strong> within <strong>3 months</strong> of the incident.</li>
  663. <li>Your complaint should include:
  664. <ul>
  665. <li>A detailed description of the incident(s).</li>
  666. <li>Supporting evidence (if available).</li>
  667. <li>A request for action to be taken.</li>
  668. </ul>
  669. </li>
  670. <li>If you are unable to write the complaint due to distress, the ICC should assist you in documenting it.</li>
  671. </ul>
  672. <h2><strong> Acknowledge Receipt of the Complaint</strong></h2>
  673. <ul>
  674. <li>The ICC is required to provide you with an acknowledgment of your complaint.</li>
  675. </ul>
  676. <h2><strong> Request Interim Relief (Optional)</strong></h2>
  677. <ul>
  678. <li>During the investigation, you may request interim relief from the ICC, such as:
  679. <ul>
  680. <li>Transfer to another department or location.</li>
  681. <li>Paid leave (up to 3 months).</li>
  682. <li>Changing the reporting structure to avoid interaction with the harasser.</li>
  683. </ul>
  684. </li>
  685. </ul>
  686. <h2><strong> Participate in the Inquiry Process</strong></h2>
  687. <ul>
  688. <li>The ICC will conduct a confidential inquiry into the complaint.</li>
  689. <li>Be prepared to:
  690. <ul>
  691. <li>Attend inquiry meetings and provide additional information.</li>
  692. <li>Identify witnesses who can support your case.</li>
  693. </ul>
  694. </li>
  695. <li>Both you and the respondent (alleged harasser) will be given an equal opportunity to present your sides.</li>
  696. </ul>
  697. <p><strong> ICC Findings and Recommendations</strong></p>
  698. <ul>
  699. <li>The ICC will submit its findings to your employer within <strong>90 days</strong> of receiving the complaint.</li>
  700. <li>Possible outcomes include:
  701. <ul>
  702. <li>Disciplinary action against the harasser (e.g., warning, suspension, termination).</li>
  703. <li>Financial compensation for you if the harassment caused financial or emotional distress.</li>
  704. </ul>
  705. </li>
  706. <li>If the ICC does not find sufficient evidence, it may close the case.</li>
  707. </ul>
  708. <h2><strong> Appealing </strong></h2>
  709. <ul>
  710. <li>If you are dissatisfied with the ICC’s decision, you can:
  711. <ul>
  712. <li>File an appeal with an appropriate court or tribunal within <strong>90 days</strong>.(for certain cases it is exceptional)</li>
  713. <li>Consult a lawyer or legal aid organization for assistance on the <a href="https://www.india.gov.in/my-government/indian-parliament">appealing link</a>.</li>
  714. <li>Or women commission centres it differs for each state for <a href="http://ncw.nic.in/">Karnataka</a></li>
  715. </ul>
  716. </li>
  717. </ul>
  718. <p><strong>File with the Local Complaints Committee (LCC)</strong></p>
  719. <ul>
  720. <li>If your workplace lacks an ICC, or the ICC fails to address your complaint, you can file directly with the LCC set up by the District Officer.</li>
  721. <li>Contact the District Office or State Women’s Commission for guidance on locating the LCC.</li>
  722. </ul>
  723. <p><strong>Seek Legal Support</strong></p>
  724. <ul>
  725. <li>If you face difficulties:
  726. <ul>
  727. <li>Contact a lawyer, legal aid cell, or NGO specializing in women’s rights.</li>
  728. <li>Reach out to organizations like the <strong>National Commission for Women (NCW)</strong> or <strong>State Women’s Commission</strong>.</li>
  729. </ul>
  730. </li>
  731. </ul>
  732. <p><strong><em>   “OUR LIVES BEGIN TO END THE DAY WE BECOME SILENT ABOUT THINGS THAT MATTER.”</em></strong></p>
  733. <p><em>                                                                                                                        &#8211;</em><em> MARTIN LUTHER KING, JR.</em></p>
  734. <p><strong> </strong></p>
  735. <p><strong>  Mr. Abhishek what’s to prove that he is innocent these are the steps he has to follow:</strong></p>
  736. <p>If a male employee is falsely accused of sexual harassment under the POSH Act (Prevention of Sexual Harassment at Workplace Act), it is important to follow a clear, methodical approach to prove his innocence. Below are the steps he should take to defend himself against the accusations:</p>
  737. <h2> <strong>Understand the Complaint</strong></h2>
  738. <ul>
  739. <li>Carefully review the complaint to understand the specific allegations. This includes the date, time, location, nature of the alleged harassment, and the identities of any witnesses.</li>
  740. <li>Request a copy of the complaint from the Internal Complaints Committee (ICC) or your employer to understand the exact nature of the allegations against you.</li>
  741. </ul>
  742. <p><strong>Stay Calm and Professional</strong></p>
  743. <ul>
  744. <li>Avoid reacting impulsively or confrontationally. Being emotional or defensive can be misinterpreted. Instead, remain calm and professional throughout the process.</li>
  745. <li>Do not retaliate against the complainant, as this can make the situation worse and be seen as an attempt to intimidate or silence them.</li>
  746. </ul>
  747. <p><strong>Cooperate with the Investigation</strong></p>
  748. <ul>
  749. <li>The POSH Act mandates a fair and impartial investigation. Cooperate fully with the ICC or the investigation process. Be available for questioning, and provide all necessary information.</li>
  750. <li>Be transparent: Ensure that you present the facts clearly. If you have evidence to support your innocence, share it with the ICC during the investigation.</li>
  751. </ul>
  752. <p><strong>Gather Evidence</strong></p>
  753. <ul>
  754. <li>Documentation: Collect any documents, emails, text messages, or written communication that could support your version of events. For example, any prior communications that show the complainant&#8217;s behaviour towards you, or the lack of any inappropriate behaviour on your part.</li>
  755. <li>Witnesses: If there were any witnesses to the alleged incident, ask them to testify on your behalf. Their testimony could help clarify the situation and support your innocence.</li>
  756. <li>Time logs and location records: If you have time logs, attendance records, or video footage that can demonstrate you were in a different location at the time of the incident, this can serve as key evidence.</li>
  757. </ul>
  758. <p><strong>Present Your Side of the Story</strong></p>
  759. <ul>
  760. <li>During the investigation, present your defence clearly and truthfully. If you have an alibi, witnesses, or evidence that shows the allegations are false or exaggerated, present it to the ICC.</li>
  761. <li>If the accusation is based on a misunderstanding or miscommunication, explain the situation calmly and provide evidence that supports this.</li>
  762. </ul>
  763. <p><strong>Demonstrate the Lack of Malicious Intent</strong></p>
  764. <ul>
  765. <li>Explain the context: If the allegations are based on a misinterpretation of your behaviour (e.g., casual conversations or friendly gestures), clarify that your actions were innocent and non-threatening.</li>
  766. <li>It’s important to show that no sexual intent was involved in any interactions you had with the complainant.</li>
  767. </ul>
  768. <p><strong>Challenge False or Malicious Claims</strong></p>
  769. <ul>
  770. <li>If you believe the allegations are false or malicious, you have the right to challenge them. If you can prove that the complaint was filed with malicious intent (e.g., for personal vendettas or to damage your reputation), you may have grounds for a counter-complaint.</li>
  771. <li>Section 14 of the POSH Act provides for consequences if a complaint is found to be false or malicious. The complainant could face disciplinary action if it is proven that they filed a false complaint (The false allocation can lead to termination, for misusing the law).</li>
  772. </ul>
  773. <p><strong>Request Interim Relief (If Necessary)</strong></p>
  774. <ul>
  775. <li>If the situation becomes tense or uncomfortable during the investigation, you can request interim relief such as temporary reassignment or suspension until the issue is resolved.</li>
  776. <li>This is done to avoid further conflict and to ensure that you are not unfairly impacted during the investigation process.</li>
  777. </ul>
  778. <p><strong>Ensure Confidentiality</strong></p>
  779. <ul>
  780. <li>Keep all details of the complaint and the investigation confidential. If the case becomes public or is discussed with other colleagues, it can harm both your and the complainant’s reputation. Maintaining confidentiality ensures fairness and protects everyone’s privacy.</li>
  781. </ul>
  782. <p><strong>Consult a Legal Professional</strong></p>
  783. <ul>
  784. <li>If you believe that the allegations are particularly damaging or could lead to legal consequences, consult a lawyer who specializes in workplace law or sexual harassment cases.</li>
  785. <li>A lawyer can help you understand your rights, guide you through the process, and advise on the best course of action.</li>
  786. <li>Legal advice becomes essential if the case escalates to legal proceedings, or if you are facing severe reputational damage.</li>
  787. </ul>
  788. <p><strong>Appeal if Necessary</strong></p>
  789. <ul>
  790. <li>If you are not satisfied with the outcome of the investigation or the ICC&#8217;s decision, you have the right to appeal. The POSH Act provides a mechanism for both the complainant and the accused to appeal the decision to an Appellate Authority within 90 days of the ruling.</li>
  791. <li>In your appeal, you should highlight any discrepancies, lack of evidence, or unfair treatment during the initial investigation.</li>
  792. </ul>
  793. <p><strong><em>“Never be bullied into silence. Never allow yourself to be made a victim”</em></strong></p>
  794. <p>&nbsp;</p>
  795. <table>
  796. <tbody>
  797. <tr>
  798. <td width="66"><strong> </strong></p>
  799. <p><strong>S.NO</strong></td>
  800. <td width="246"><strong> </strong></p>
  801. <p><strong>COMES UNDER HARASSMENTS</strong></td>
  802. <td width="274"><strong> </strong></p>
  803. <p><strong>DOES NOT COMES UNDER HARASSMENTS</strong></td>
  804. </tr>
  805. <tr>
  806. <td width="66">&nbsp;</p>
  807. <p>1</p>
  808. <p>&nbsp;</td>
  809. <td width="246">&nbsp;</p>
  810. <p>Sexual harassment</td>
  811. <td width="274">&nbsp;</p>
  812. <p>Constructive Criticism</td>
  813. </tr>
  814. <tr>
  815. <td width="66">&nbsp;</p>
  816. <p>2</td>
  817. <td width="246">&nbsp;</p>
  818. <p>Psychological/Emotional Harassment</td>
  819. <td width="274">&nbsp;</p>
  820. <p>Teasing or Joking (When Both Parties Agree)</td>
  821. </tr>
  822. <tr>
  823. <td width="66">&nbsp;</p>
  824. <p>3</td>
  825. <td width="246">&nbsp;</p>
  826. <p>Racial Harassment</td>
  827. <td width="274">&nbsp;</p>
  828. <p>One-Time Conflicts or Disagreements</td>
  829. </tr>
  830. <tr>
  831. <td width="66">&nbsp;</p>
  832. <p>4</td>
  833. <td width="246">&nbsp;</p>
  834. <p>Online Harassment</td>
  835. <td width="274">&nbsp;</p>
  836. <p>Unintentional Offenses</td>
  837. </tr>
  838. <tr>
  839. <td width="66">&nbsp;</p>
  840. <p>5</td>
  841. <td width="246">&nbsp;</p>
  842. <p>Verbal Harassment</td>
  843. <td width="274">&nbsp;</p>
  844. <p>Normal Workplace or Social Dynamics</td>
  845. </tr>
  846. <tr>
  847. <td width="66">&nbsp;</p>
  848. <p>6</td>
  849. <td width="246">&nbsp;</p>
  850. <p>Gender-Based Harassment</td>
  851. <td width="274">&nbsp;</p>
  852. <p>Disciplinary Action or Feedback in the Workplace</td>
  853. </tr>
  854. <tr>
  855. <td width="66">&nbsp;</p>
  856. <p>7</td>
  857. <td width="246">&nbsp;</p>
  858. <p>Bullying</td>
  859. <td width="274">&nbsp;</p>
  860. <p>One-Time Mistakes or Accidental Comments</td>
  861. </tr>
  862. </tbody>
  863. </table>
  864. <p>Reference:<a href="https://childprotection.gov.lk/images/pdfs/posters/GOOD_BAD%20TOUCH%20Poster-E.pdf"> link</a></p>
  865. <p>&nbsp;</p>
  866. <p><strong>Prevention Mechanisms in-depth</strong></p>
  867. <p><strong>Training and Workshops:</strong></p>
  868. <ul>
  869. <li>Employee Training: Programs of education schedules which continue to hold a program of instruction for staff against detecting and inhibiting harassment with their emphasis on individual rights as defined under POSH as well as the pattern of reporting.</li>
  870. <li>ICC Member Training: Supplementary courses emphasizing specific kinds of training for members of the Internal Committee, meant to address all complaints very sensibly.</li>
  871. <li>Managerial Training: All managerial and leadership people must bask in a culture, worthy of respect and adherence, as they manage the employees under the POSH policy.</li>
  872. </ul>
  873. <p><strong>Anonymous Reporting Systems:</strong></p>
  874. <p>It also sets up anonymous reporting channels such as online portals, helplines, or suggestion boxes for easy employee reporting in the event of retaliation.</p>
  875. <p>Ensure a standard common confidentiality in all reporting Procedures.</p>
  876. <p><strong>Audit Policy:</strong></p>
  877. <ul>
  878. <li>Regular checks: review of workplace policies and practices towards workers from time to time to find loopholes and institute remedy action.</li>
  879. <li>Feedback Driven Changes: Policies keep changing due to employee feedback and emerging trends so that they do not become outdated.</li>
  880. <li>This establishes anonymous reporting channels-much online portals, helplines, or simply suggestion boxes so that employees can report without fear of retaliation. Ensure common confidentiality in all reporting Procedures.</li>
  881. </ul>
  882. <p><strong>Relief to Victims</strong></p>
  883. <p>Emotional and Legal Support:</p>
  884. <ul>
  885. <li>Access to counseling services to help victims recover emotionally and regain confidence.</li>
  886. <li>Legal Assistance or Counselling Provision for Victims on Understanding and Pathways to Navigate the Resolution Process.</li>
  887. </ul>
  888. <p>&nbsp;</p>
  889. <p><strong>Confidentiality and non-retaliation:</strong></p>
  890. <ul>
  891. <li>A policy that guarantees confidentiality with respect to the complainant and the witnesses.</li>
  892. <li>These relate to retaliation against a complainant will be severely sanctioned.</li>
  893. </ul>
  894. <p><strong>Penalty of Employers for Non-Compliance</strong></p>
  895. <p><strong>   Legal Consequences:</strong></p>
  896. <ul>
  897. <li>Fine: The non-compliance with the POSH Act can lead to fines in the form of up to ₹50,000 for the first violations, finer penalties or cancellation of license for further violations.</li>
  898. <li>Court Intervention: A case of negligence may get filed in court and could be subjected to severe reputational and legal consequences.</li>
  899. </ul>
  900. <p><strong>  Reputational Damage:</strong></p>
  901. <ul>
  902. <li>Loss of Trust: The organization&#8217;s image suffers because of its inability to comply, which makes it less attractive to the top talent and partnerships.</li>
  903. <li>Public Backlash: Harassment cases tend to rattle the media and put a brake on the market position of the company in concern.</li>
  904. </ul>
  905. <p><strong>Diversity and Inclusion</strong></p>
  906. <ul>
  907. <li>Diversity Building: This is because it has policies under POSH-they create an environment where people from different genders, races, nationalities, and backgrounds feel respected and valued.</li>
  908. <li>Built-In: These sexual harassment-free environments encourage participation of previously underrepresented groups, which in turn leads to innovations and collaborations.</li>
  909. <li>Overreaching Goals: Has the organization culture as a function of global standards of diversity and inclusion, making it an even stronger competitive differentiator for the company.</li>
  910. </ul>
  911. <p>&nbsp;</p>
  912. <p><strong>Case Study or Examples</strong></p>
  913. <p>Case Study 1: Good Implementation of POSH</p>
  914. <ul>
  915. <li>Company X has been conducting half yearly POSH training workshops for its entire employees. It has put in place a strong anonymous reporting mechanism. The reporting cases of harassment reduced by 40% after a year and substantially improved employee satisfaction scores.</li>
  916. </ul>
  917. <p>Case Study- 2: A Case of Non-compliance</p>
  918. <ul>
  919. <li>Company Y simply did not comply with legal obligations of forming Internal Committee. Consequently, it became the subject of a harassment lawsuit, shortly afterwards had incurred fines and near-universal public opprobrium-including severe financial losses and employee attrition.</li>
  920. </ul>
  921. <p>Case study- 3: If a hire authority misbehaves outside the office to the person who works below his guidance, it also comes under the ICC (work harassment)</p>
  922. <p>Hence, he is work below him it is difficult to address the issue, where is a chance he could be blackmailed</p>
  923. <p>Cases for reference   (<a href="https://www.casemine.com/search/in/harassment%2Bin%2Bthe%2Bworkplace">Casemine</a>)</p>
  924. <p><strong>Monitoring and Feedback </strong></p>
  925. <ul>
  926. <li>Feedbacks Mechanisms: Employee feedback regarding the efficacy of the POSH measures should be collected via surveys, suggestion boxes, and focus group discussions.</li>
  927. <li>Regular Reporting: The Internal Committee should provide annual reports on cases dealt with, resolutions achieved, and preventive measures taken.</li>
  928. <li>Policy Reviews: Organizations should continually review and improve POSH policies to capture new risks and improve alignment with best practices.</li>
  929. </ul>
  930. <p><strong>Contents in POSH Act filling:</strong></p>
  931. <p><strong>Purpose:</strong></p>
  932. <p>It sets forth the aims of the policy, which zeroes in on a no-nonsense attitude to sexual harassment and the safe, equitable workspace.</p>
  933. <p><strong>Scope and Applicability:</strong></p>
  934. <p>Specify to whom the policy applies, namely to all employees and contract workers, and in what settings.</p>
  935. <p><strong>Definition/Glossary: </strong></p>
  936. <p>Provides definitions and explanations of terms used in the policy.</p>
  937. <p><strong>Policy/Process:</strong></p>
  938. <p><strong>Policy Statement:</strong></p>
  939. <p>It is hereby expressed that POSH Act, 2013 is adhered to.</p>
  940. <p><strong> POSH Committee:</strong></p>
  941. <p>Constitutes the Internal Complaints Committee (ICC) and details its responsibilities.</p>
  942. <p><strong>Responsibilities &amp; Procedure: </strong></p>
  943. <p>Describes how and where complaints may be lodged and all procedures regarding      settlements.</p>
  944. <p><strong>Responsibilities of the ICC:</strong></p>
  945. <p>Overall duties include investigation, provision of hearings, and closure of cases.</p>
  946. <p><strong>The ICC Inquiry Process:</strong></p>
  947. <p>The mode of inquiry is described.</p>
  948. <p><strong>Actions by the ICC: </strong></p>
  949. <p>Lists the actions which ICC can take, including termination and counselling.</p>
  950. <p><strong>False or Malicious Complaints:</strong>   It also speaks about the disciplinary actions to be taken against malicious complaints.</p>
  951. <p>&nbsp;</p>
  952. <p><strong>Definitions:</strong></p>
  953. <p><strong>What Constitutes Sexual Harassment: </strong></p>
  954. <p>Explains actions or behaviours deemed harassment.(as per mentioned above in the article)</p>
  955. <p><strong>What Constitutes a Workplace:</strong></p>
  956. <p>Defines the workplace*, including things happening offsite and during commuting.</p>
  957. <p><strong> Who Is an Employee Under the Act</strong>:</p>
  958. <p>Broadly represents a definition of an employee-<a href="http://Definition of Employee (31 Dec 2009) | Ministry of Labour &amp; Employment|Government of India">under the Act.</a></p>
  959. <p>&nbsp;</p>
  960. <p><strong> References</strong>:</p>
  961. <p>Other policies and other legislation supporting the policy.</p>
  962. <p><strong>Special</strong> <strong>Circumstances and Exception: </strong></p>
  963. <p>Explains how deviations or exceptions to the policy are managed.</p>
  964. <p><strong>Non-Compliance and Consequences: </strong></p>
  965. <p>Offences against the policy include penalties for breaching confidentiality.</p>
  966. <p>These contents form the basis for a structured and comprehensive prevention and treatment mechanism for sexual harassment in the workplace.</p>
  967. <p><strong> </strong></p>
  968. <p><strong>Penalty for not constitute a POSH Internal Complaints Committee (ICC)</strong></p>
  969. <p><strong>Legal Consequences:</strong></p>
  970. <p><strong>Non-compliance penalty</strong>: Penalties reaching up to 50,000 rupees may be levied against the organization for failing to constitute an ICC. Repeat violations may lead to imposition of bigger fines or suspend or cancel registration or license to continue the company.</p>
  971. <p><strong>Violation of law</strong>: The POSH Act requires an ICC to be established in workplaces having 10 or more employees, and drawing a non-compliance will amount to violation of law subjecting the organization to judicial proceedings.</p>
  972. <p><strong>Increased Legal Liability</strong>: Since grievance redressal mechanisms are non-existent, there shall not be any formal channel for lodging complaints of sexual harassment by employees in the absence of an ICC. This might entail filing lawsuits directly against the company.</p>
  973. <p><strong>Direct employer liability</strong>: Without an ICC, the organization becomes personally liable for the incidents of harassment which will increase the institutions at the risk of penalties by courts and compensation payouts at large.</p>
  974. <p><strong> </strong></p>
  975. <p><strong>Reputational damage: </strong></p>
  976. <p><strong>A public and media ridicule</strong>: The name of the company can be seriously tarnished with bad publicity in the event of cases of harassment and the said company is found non-compliant.</p>
  977. <p><strong>Loss of Client Trust</strong>: Clients and partners may distance themselves from a company perceived as unsafe or unethical.</p>
  978. <p><strong>Impact on Workplace Environment</strong>:</p>
  979. <ul>
  980. <li>Dysfunctional Work Environment: The absence of an ICC could make the employees vulnerable and, thereby lower their morale and contribute to a toxic workplace setting.</li>
  981. <li>Increase in Harassment Incidents: It would encourage perpetrators in making them feel that there will be no consequences to their action, resulting in a higher volume of harassment cases.</li>
  982. </ul>
  983. <p><strong>Challenges in Recruitment and Retention:</strong></p>
  984. <ul>
  985. <li>High Attrition Rate: An unsafe work environment can cause people, more so women, to leave the organization.</li>
  986. <li>Difficulty Attracting Talent: A new employee might forfeit opportunities within the organization if it somewhat earns a reputation for neglecting workplace safety.</li>
  987. </ul>
  988. <p><strong>Government Scrutiny:</strong></p>
  989. <ul>
  990. <li>Audits by Government: Any complaints hitting government minds may draw investigation or audits by authorities, further reducing the company&#8217;s credibility.</li>
  991. </ul>
  992. <p><strong>How to Avoid These Consequences:</strong></p>
  993. <p>&#8220;Internal Complaints Committee&#8221; for compliance with the POSH Act and protection of the organization:</p>
  994. <ul>
  995. <li>Constitute an Internal Complaints Committee of at least 4 members who would include a senior woman employee as chairperson and an outside NGO/legal member.</li>
  996. <li>Provide training for ICC members and employees to effectively handle complaints.</li>
  997. <li>Ensure annual reports on the POSH compliances reach the District Officer. The law violation of &#8220;not forming ICC&#8221; is serious also in governance since it involves the company in both operational risk as well as reputational damage.</li>
  998. </ul>
  999. <p><strong>                     </strong></p>
  1000. <p><strong>*Workplace: </strong>workplace is a place or environment where people carry out assignments or jobs allotted by his/her employer or organization. These places vary based on what the job really does-from inside work at an office to outside work at an open-air construction site. Each industry is different in its demands or requirements and takes a lot in terms of how and where its operations will take place)<strong>           </strong></p>
  1001. <p>&nbsp;</p>
  1002. <p>This article contributed by <strong>Mr. </strong><strong>Mayavan MA</strong></p>
  1003. <blockquote><p>For professional support on the POSH Act, implement, reach out to <a href="https://prakashaandco.com/legal-services/">Prakasha And Co</a> trusted <strong>legal partner</strong> in Bangalore for all corporate-legal related services.</p></blockquote>
  1004. <p><strong> </strong></p>
  1005. <p><strong> </strong><strong>Disclaimer:<br />
  1006. </strong>This POSH article is intended solely for <strong>informational purposes</strong>. It does not constitute legal advice and should not be considered as a final or authoritative source on the Prevention of Sexual Harassment (POSH) Act or its application. For the implementation of POSH Act compliance measures in your organization or for specific legal consultation, you are encouraged to reach out to <a href="https://prakashaandco.com/legal-services/">Prakasha &amp; Co</a>., a corporate law advisory firm.</p>
  1007. ]]></content:encoded>
  1009. <wfw:commentRss>https://teamindia.co.in/workplace-sexual-harassment-prevention-posh-act/feed/</wfw:commentRss>
  1010. <slash:comments>0</slash:comments>
  1013. </item>
  1014. <item>
  1015. <title>How to file PF online?</title>
  1016. <link>https://teamindia.co.in/how-to-file-pf-online/</link>
  1017. <comments>https://teamindia.co.in/how-to-file-pf-online/#respond</comments>
  1019. <dc:creator><![CDATA[Admin]]></dc:creator>
  1020. <pubDate>Wed, 11 Dec 2024 12:10:37 +0000</pubDate>
  1021. <category><![CDATA[PF]]></category>
  1022. <guid isPermaLink="false">https://teamindia.co.in/?p=18351</guid>
  1023.  
  1024. <description><![CDATA[Provident Fund A PF is a saving and investment for employees, it serves as a retirement corpus to support an employee. A company needs to create a PF Registration to do file PF online every month. &#160; Checklist while filing for PF Ecr Before uploading PF Ecr, a. Verify New Employees’ UAN Status: It is [&#8230;]]]></description>
  1025. <content:encoded><![CDATA[<p><strong>Provident Fund</strong></p>
  1026. <p>A PF is a saving and investment for employees, it serves as a retirement corpus to support an employee. A company needs to create a PF Registration to do file <a href="https://unifiedportal-emp.epfindia.gov.in/epfo/">PF online every</a> month.</p>
  1027. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18352" src="https://teamindia.co.in/wp-content/uploads/2024/12/pffiling-300x238.png" alt="PF filing" width="300" height="238" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/pffiling-300x238.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/pffiling-768x609.png 768w, https://teamindia.co.in/wp-content/uploads/2024/12/pffiling.png 1024w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1028. <p>&nbsp;</p>
  1029. <h2><strong>Checklist while filing for PF Ecr</strong></h2>
  1030. <ol>
  1031. <li>Before uploading PF Ecr,</li>
  1032. </ol>
  1033. <ol>
  1034. <li><strong>a. Verify New Employees’ UAN Status:</strong></li>
  1035. </ol>
  1036. <ul>
  1037. <li>It is required to verify if the new employees’ UAN (Universal Account Number) has been registered previously under the company’s pf account.</li>
  1038. <li>In the absence of registration of UAN, an employee will need to be assigned a new UAN.</li>
  1039. </ul>
  1040. <ol>
  1041. <li><strong>Update the Employee Master Data</strong></li>
  1042. </ol>
  1043. <ul>
  1044. <li>Joining Date &#8211; PAN</li>
  1045. <li>Aadhaar Copy, Bank Account Number, Isfc Code</li>
  1046. <li>Basic Monthly Salary</li>
  1047. <li>Email and Phone Number</li>
  1048. </ul>
  1049. <ol>
  1050. <li><strong>UAN Cross Check:</strong></li>
  1051. </ol>
  1052. <ul>
  1053. <li>Employees’ Aadhaar, PAN, and UAN should be in sync with respect to the employees’ name, date of birth, and gender.</li>
  1054. <li>In the event they do not sync, employees will have to themselves amend documents as necessary.</li>
  1055. </ul>
  1056. <ol>
  1057. <li><strong>PF Resignees Update:</strong></li>
  1058. </ol>
  1059. <ul>
  1060. <li>Change the status off the employees’ who have resourced within the master data.</li>
  1061. <li>Ensure that the last working day of those employees is well captured onto the system.</li>
  1062. </ul>
  1063. <ol>
  1064. <li>Monthly Salary Data Validation:</li>
  1065. </ol>
  1066. <ul>
  1067. <li>Ensure that the PF Members’ basic salary of each individual for the current month has been followed up with that salary of the preceding month.</li>
  1068. <li>Ensure that any adjustments in respect thereof or in respect of the salary or deductions were made.</li>
  1069. </ul>
  1070. <ol>
  1071. <li>Ensuring All Input Data is Aligned with Intended Deposition:</li>
  1072. </ol>
  1073. <ul>
  1074. <li>Surveillance that new joinees and resigners are correctly represented in the PF master data.</li>
  1075. <li>Double check correctness of employee’s details in order to prevent issues in the creation of UANs or the filing of PFs.</li>
  1076. </ul>
  1077. <h2><strong>Step-By-Step Process of PF Filing:</strong></h2>
  1078. <ol>
  1079. <li>Proceed to ECR Upload Section: Using your credentials, log in to the Employer’s Provident Fund (EPF) page. Proceed to the section for uploading ECR files. There are normally under “Payments” or “ECR filing”.</li>
  1080. </ol>
  1081. <p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-18353" src="https://teamindia.co.in/wp-content/uploads/2024/12/pflogin.jpg" alt="pf Login" width="265" height="294" /></p>
  1082. <p>&nbsp;</p>
  1083. <ol start="2">
  1084. <li><strong>Prepare and Upload the ECR File:</strong> You may also make use of a monthly <a href="https://prakashaandco.com/payroll-bangalore-2/">payroll system</a> to manually:</li>
  1085. <li>Create and upload the ECR file trigger (usually a .txt file):</li>
  1086. <li>Ensure it has the following information:
  1087. <ul>
  1088. <li>UAN (Universal Account Number) of employees.</li>
  1089. <li>Employee and employer PF contributions.</li>
  1090. <li>Wages and other necessary details. Wages/ Income, and other relevant information.</li>
  1091. <li>Use validation tools from EPFIGE tools to check if it is fit to be submitted. In the ECR Upload section, browse and select the prepared ECR file. Submit it for validation.</li>
  1092. </ul>
  1093. </li>
  1094. </ol>
  1095. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18354" src="https://teamindia.co.in/wp-content/uploads/2024/12/ecr-uplaod-300x50.jpg" alt="ecr upload " width="300" height="50" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/ecr-uplaod-300x50.jpg 300w, https://teamindia.co.in/wp-content/uploads/2024/12/ecr-uplaod-768x128.jpg 768w, https://teamindia.co.in/wp-content/uploads/2024/12/ecr-uplaod.jpg 979w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1096. <ol start="3">
  1097. <li><strong>Now, confirm that the ECR Data Uploaded is Indeed Correct: </strong>Once you have uploaded the ECR, then confirm the data that is being portrayed on the screen.</li>
  1098. </ol>
  1099. <ul>
  1100. <li>The total number of employees.</li>
  1101. <li>The total wages.</li>
  1102. <li>The number of contributions (employee and employer).</li>
  1103. <li>The number of subordinates and day’s work.</li>
  1104. </ul>
  1105. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18355" src="https://teamindia.co.in/wp-content/uploads/2024/12/ecrupload-300x133.jpg" alt="ecr upload" width="300" height="133" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/ecrupload-300x133.jpg 300w, https://teamindia.co.in/wp-content/uploads/2024/12/ecrupload.jpg 674w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1106. <p>&nbsp;</p>
  1107. <ol>
  1108. <li>
  1109. <h2><strong>Make Payment for PF Contribution: </strong></h2>
  1110. </li>
  1111. </ol>
  1112. <ul>
  1113. <li>After re-evaluating and confirming the ECR data, the system wealth is set against right for the Contribution amount. Challan comes into the picture here.</li>
  1114. <li>Record the particulars attached in the Challan further listed Pay using any of the specified payment methods offered into the gateway or use net.</li>
  1115. </ul>
  1116. <ol>
  1117. <li><strong>Download Acknowledgment/Challen: </strong>When the payment has been completed, a copy of the receipt or the Challan can be printed or saved. This receipt is required to be maintained as evidence of payment made.</li>
  1118. </ol>
  1119. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18356" src="https://teamindia.co.in/wp-content/uploads/2024/12/ecrchallan-300x198.jpg" alt="Ecr challan" width="300" height="198" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/ecrchallan-300x198.jpg 300w, https://teamindia.co.in/wp-content/uploads/2024/12/ecrchallan.jpg 452w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1120. <p>&nbsp;</p>
  1121. <ol>
  1122. <li><strong>Reconcile and Confirm the Wages/Salary: </strong>In addition, ensure that the details of the Challan correspond to your pay sheet. In case of any changes or amendments, please make sure that they are appropriately recorded.</li>
  1123. <li><strong>Create Periodic Reports on Compliance Status:</strong> Extract details from the ECR file and payment records to prepare compliance reports. These reports are useful in both internal and external audit exercises and in meeting legal obligations.</li>
  1124. <li><strong>Incorporate the Changes in the Existing UAN: </strong>In case there is a change in any particulars of the employees (like name, date of birth, contact numbers, etc.,), it should be updated there under the concerned employee’s UAN.</li>
  1125. </ol>
  1126. <ul>
  1127. <li>Locate the “UAN Update” section in the EPF website.</li>
  1128. <li>Provide the amendments required and documents if any are added where necessary.</li>
  1129. <li>After this change, the employee can proceed to from this step to the next step and then the last step once changes are approved from EPFO.</li>
  1130. </ul>
  1131. <p>&nbsp;</p>
  1132. <h4><strong>Checklist for Amendments in Employees’ PF Information</strong></h4>
  1133. <ul>
  1134. <li>Employed Details Modification Without Failing to Verify Employee KYC Document
  1135. <ol>
  1136. <li>Verify Managers updates needed in regard to existing employees. For instance, managers:
  1137. <ol>
  1138. <li>In case of Name Mismatch in Bank</li>
  1139. <li>Bank Particulars</li>
  1140. <li>PAN change</li>
  1141. </ol>
  1142. </li>
  1143. </ol>
  1144. </li>
  1145. </ul>
  1146. <ul>
  1147. <li><strong>Joint Declaration for older updates</strong>
  1148. <ol>
  1149. <li>For changes more than 6 months ago,
  1150. <ol>
  1151. <li>Prepare a <strong>Joint Declaration Letter</strong> signed by both the employee and employer.</li>
  1152. <li>Attach self-attested copies of the employee’s <strong>PAN</strong> and <strong>Aadhaar</strong>.</li>
  1153. <li>Submit the documents to the nearest PF office where the account is maintained.</li>
  1154. </ol>
  1155. </li>
  1156. </ol>
  1157. </li>
  1158. </ul>
  1159. <p>&nbsp;</p>
  1160. <ul>
  1161. <li><strong>Joint Declaration applicability</strong>:
  1162. <ol>
  1163. <li>PF Exit Date Correction:
  1164. <ol>
  1165. <li>Responsible person must determine whether there was a need to amend retiring date of PF account held with other employer.</li>
  1166. <li>If so, Kindly do so by submitting Joint Declaration Letter to PF Office.</li>
  1167. </ol>
  1168. </li>
  1169. </ol>
  1170. </li>
  1171. </ul>
  1172. <p>&nbsp;</p>
  1173. <ul>
  1174. <li>At the time of PF Transfer Between UANs:
  1175. <ol>
  1176. <li>Ensure automatic transfer of PF balances when an employee switches jobs.</li>
  1177. <li>If there is delay in automatic transfer-
  1178. <ol>
  1179. <li>Guide the employee to login into their personal UAN portal with UAN Credentials.</li>
  1180. <li>use the reset option</li>
  1181. </ol>
  1182. </li>
  1183. </ol>
  1184. </li>
  1185. </ul>
  1186. <ul>
  1187. <li>Update and initiate the transfer request from the employee’s login</li>
  1188. </ul>
  1189. <ul>
  1190. <li><strong>KYC Updates by Employees</strong>
  1191. <ol>
  1192. <li>Inform employees to update their KYC (e.g., PAN, Aadhaar, Bank Details) directly through their UAN login.</li>
  1193. </ol>
  1194. </li>
  1195. </ul>
  1196. <p>Ensure all information is accurate to avoid further mismatches or errors.</p>
  1197. <p><span style="font-size: 16px;">The current Company shall approve the basic KYC update using </span><a style="font-size: 16px; background-color: #ffffff;" href="https://dscsign.com/digital-signature-certificate-bangalore/" target="_blank" rel="noopener">Director&#8217;s DSC</a>.</p>
  1198. <h2><strong>Benefits of PF for the Employees</strong></h2>
  1199. <ol>
  1200. <li><strong>Retirement Savings: </strong>Provides a secure savings fund for employees to use after retirement, ensuring financial independence in later years.</li>
  1201. <li><strong>Tax Benefits: </strong>Employee contributions to PF (up to ₹1.5 lakh per year) are eligible for tax deduction under Section 80C of the Income Tax Act. The interest earned and maturity proceeds are tax-free if the account is held for 5 years or more.</li>
  1202. <li><strong>Life Insurance Coverage: </strong>Through the EDLI (Employees&#8217; Deposit Linked Insurance) scheme, employees are automatically entitled to life insurance coverage without additional premium costs.</li>
  1203. <li><strong>Partial Withdrawals for Emergencies: </strong>Employees can make partial withdrawals for specific needs like medical emergencies, higher education, marriage, or purchasing a home.</li>
  1204. <li><strong>Pension Benefits: </strong>A portion of the employer&#8217;s contribution is allocated to the Employee Pension Scheme (EPS), ensuring a monthly pension post-retirement.</li>
  1205. </ol>
  1206. <h2><strong>Tax Benefits and Implications in PF</strong></h2>
  1207. <ol>
  1208. <li><strong> Tax Benefits on Contributions:</strong></li>
  1209. </ol>
  1210. <ul>
  1211. <li>Employee Contribution: Tax deduction under Section 80C in the Income Tax Act for maximum Rs.1.5 lakh per year.</li>
  1212. <li>Employer Contribution: Tax-free for the employee if it does not exceed 12% of his basic salary; above that, the contribution is treated as taxable income.</li>
  1213. </ul>
  1214. <ol start="2">
  1215. <li><strong> Tax-Free Interest: </strong>Interest on PF is tax-free as long as the employee&#8217;s annual contribution does not exceed ₹2.5 lakhs. If the contributions are above INR 2.5 lakh (INR 5 lakh if the employer does not contribute), then interest is taxable on this amount.</li>
  1216. <li><strong> Tax on PF Withdrawal:</strong></li>
  1217. </ol>
  1218. <ul>
  1219. <li>Taxable if withdrawn before 5 years of continuous service. The employer&#8217;s contributions and earned interest will be taxed under the income from salary, while the employee&#8217;s contribution, if claimed under Section 80C of the Act, will be taxed under income from other sources.</li>
  1220. <li>Tax-free after 5 years of continuous service, including contributions and interest.</li>
  1221. </ul>
  1222. <ol start="4">
  1223. <li><strong> Partial Withdrawals : </strong>Withdrawals for certain purposes such as medical emergencies, education or acquiring a house will be free of tax subject to conditions of<a href="https://epfindia.gov.in/site_docs/PDFs/Updates/TDS_FlowChart_Instructions_Eng.pdf"> EPFO.</a></li>
  1224. </ol>
  1225. <p>&nbsp;</p>
  1226. <p><strong>Monthly Problems in PF ECR Submission</strong></p>
  1227. <ul>
  1228. <li>ECR File Structure problem:
  1229. <ol>
  1230. <li>There is a need to ensure that the ECR is prepared in the requisite CCR TXT file of the PF portal.</li>
  1231. </ol>
  1232. </li>
  1233. </ul>
  1234. <p><img loading="lazy" decoding="async" class="alignnone wp-image-18357" src="https://teamindia.co.in/wp-content/uploads/2024/12/ecr-file-format-300x93.jpg" alt="ecr format" width="355" height="110" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/ecr-file-format-300x93.jpg 300w, https://teamindia.co.in/wp-content/uploads/2024/12/ecr-file-format-768x238.jpg 768w, https://teamindia.co.in/wp-content/uploads/2024/12/ecr-file-format.jpg 979w" sizes="(max-width: 355px) 100vw, 355px" /></p>
  1235. <p>&nbsp;</p>
  1236. <ol>
  1237. <li><strong>Make sure the organization of the file is correct before it is uploaded so that it will not be rejected.</strong></li>
  1238. </ol>
  1239. <ul>
  1240. <li>2. Employees in Employment Verification are More/Less than in Actual Employment:
  1241. <ol>
  1242. <li>The number of employees in the ECR file submitted is constant with the number of employees input.</li>
  1243. <li>Also, check if any employees are left out or more are included in the ECR data.</li>
  1244. </ol>
  1245. </li>
  1246. </ul>
  1247. <p>&nbsp;</p>
  1248. <ul>
  1249. <li><strong>3. The PF Amount Due Receivable Amount Could Not Be Able to Determine:</strong>
  1250. <ol>
  1251. <li>The total amount due for PF in ECR is equal to the amount calculated inside the working excel document.</li>
  1252. <li>Contributions like admin charges for PF and EDLI are handled during the last reconciliation process.</li>
  1253. </ol>
  1254. </li>
  1255. </ul>
  1256. <p>&nbsp;</p>
  1257. <ul>
  1258. <li><strong>4. Approvers for basic pf details of the employees such as children dependency which includes,</strong> age, birthyear, and marriage;
  1259. <ol>
  1260. <li>Changes in basic pf detail such as user name to which credit is made and earlier, modification in the pf account.</li>
  1261. <li>However, if a change is required, an employee must visit the PF office with self-attested Pan and Aadhar copies to manually change their records in case such details require modifying.</li>
  1262. </ol>
  1263. </li>
  1264. </ul>
  1265. <p>&nbsp;</p>
  1266. <ul>
  1267. <li><strong>5. Last Working Date Not Updated by Previous Employer:</strong>
  1268. <ol>
  1269. <li>Confusions arise if an Ex-employer doesn’t update the last working date of the employee due to:
  1270. <ol>
  1271. <li>Company closure.</li>
  1272. <li>Previous employer&#8217;s HR/payroll not helping out.</li>
  1273. </ol>
  1274. </li>
  1275. </ol>
  1276. </li>
  1277. </ul>
  1278. <ul>
  1279. <li>The Previous Company has no valid DSC for such changes to happen.</li>
  1280. </ul>
  1281. <ol>
  1282. <li>Without this, PF transfer from old employer to the present account could not be started.</li>
  1283. </ol>
  1284. <p>&nbsp;</p>
  1285. <ul>
  1286. <li>6. <strong>Steps to Resolve Last Working Date Issues:</strong>
  1287. <ol>
  1288. <li>Former employee should approach the HR/Payroll/Accounts division of the earlier employer, in the first instance, to help her or him in updating the exit date.</li>
  1289. <li>Permutations of Exit date (if the previous company has shut down &amp; is untraceable)
  1290. <ol>
  1291. <li>The employee is to approach the PF officer and submit a letter of undertaking, and certain relevant documents (appointment letter, relieving letter, and so forth).</li>
  1292. <li>Ask for a manual change of the exit particulars.</li>
  1293. </ol>
  1294. </li>
  1295. </ol>
  1296. </li>
  1297. </ul>
  1298. <p>&nbsp;</p>
  1299. <h2><strong>Common Myths and Misconceptions in PF</strong></h2>
  1300. <ol>
  1301. <li><strong>My PF Money is lost when I resign from service.<br />
  1302. Myth:</strong> Most people think that when they go-out of an organization and do not move their PF balance then the money is lost.<br />
  1303. <strong>Fact:</strong> It is not possible for PF money to get ‘lost’. The amount is deposited into the PF account and the respective employee earns a yearly interest on this amount. Inactive accounts however, stops earning any interest after 36 months of inactivity, but you may still reactivate the account or relocate the amount to a different account.</li>
  1304. <li><strong>It takes decades to withdraw the PF money.</strong><br />
  1305. <strong>Myth:</strong> Some people think that the process of taking out cash from the PF account is time consuming and agonizing.<br />
  1306. <strong>Fact:</strong> One more boon resulting from EPFO&#8217;s online services is that it is possible for members to file claims using the UAN portal or the UMANG app. As long as the KYC details corresponding to the member&#8217;s Aadhaar, PAN and the bank account are there on record withdrawal may take a few days.</li>
  1307. <li><strong>You cannot withdraw PF before retirement.<br />
  1308. Myth:</strong> There are people who believe that the money from the PF account can only be taken out after the reach retirement age which is 58 years.<br />
  1309. <strong>Fact:</strong> A person who is a member of the Employees’ Provident Fund is allowed to withdraw the funds at any age subject to the conditions where the withdrawal is for the following purposes:<br />
  1310. For medical needs.<br />
  1311. b. For education and marriage purposes.<br />
  1312. c. For purchase /construction of a home.<br />
  1313. d. In addition, if someone has been out of work for more than two months then that person will also be able to withdraw their PF balance.</li>
  1314. </ol>
  1315. <p>&nbsp;</p>
  1316. <ol start="4">
  1317. <li><strong>My employer has authority over my Provident Fund balance.</strong></li>
  1318. </ol>
  1319. <p><strong>Myth:</strong> A number of employees believe that their PF money can be controlled or prohibited by the employer in such a way that they cannot use it.</p>
  1320. <p><strong>Fact:</strong> The money set up in the PF account is your asset. Employers do not limit removals or transfers. They only assist in making contributions. For conflicts, you may file a complaint to EPFO directly.</p>
  1321. <p>&nbsp;</p>
  1322. <ol start="5">
  1323. <li><strong>I should not take concern about Universal Account Number when changing a job.</strong></li>
  1324. </ol>
  1325. <p><strong>Myth:</strong> There are people who believe that when they change jobs their Provident Fund contributions follow them, and this is done whether they link their contributions with the Universal Account Number or not.</p>
  1326. <p><strong>Fact:</strong> A universal account number also known as UAN, is central in enabling smooth transfers of funds from one PF account to the other. When changing your job, you need to transfer PF, which requires linking your UAN to Aadhaar and activating it.</p>
  1327. <h2><strong>Commonly faced issues on PF withdrawal:</strong></h2>
  1328. <p><strong>1.Update KYC</strong></p>
  1329. <ul>
  1330. <li>Unlinked/Unverified KYC: Your Aadhaar, PAN, or bank account may not be linked or verified with your UAN.</li>
  1331. <li>Mismatch of Details: Minor mismatches of names or initials versus full names can cause problems. <strong>For Example;</strong> After marriage if Radha decides to change her name as Radha Krishnan, then she needs to login to the <a href="https://unifiedportal-mem.epfindia.gov.in/memberinterface/">Pf members portal</a> and send a request to the employer, once the employer gets the notification on their webpage, they will update the name. If Radha fails to inform her employer, then the problem of name being mismatched arises causing trouble at the time of withdrawal.</li>
  1332. </ul>
  1333. <ol start="2">
  1334. <li><strong> Technical Errors on the Portal</strong></li>
  1335. </ol>
  1336. <ul>
  1337. <li>Portal Downtime: The PF portal, that is, EPFO in India, may have its downtime or experience glitches.</li>
  1338. <li>Claim Rejection Brought About by Incomplete Information: Less-than-complete or inaccurate claim forms can lead to rejection.</li>
  1339. <li>Aadhaar-OTP: If OTPs are not generated due to the failure of mobile numbers to link to Aadhaar, processing would then become impossible.</li>
  1340. </ul>
  1341. <ol start="3">
  1342. <li><strong> Employment History Issues</strong></li>
  1343. </ol>
  1344. <ul>
  1345. <li>Claim Pending for Approval from Employer: There are some claims that are to be validated by the employer which can hold up the process.</li>
  1346. <li>Claims Pending with Previous Employer: If the old employer has not marked your date of exit nor transferred the PF balance, any withdrawal s may get stuck.</li>
  1347. <li>Multiple UANs: Multiple UANs would only make withdrawal cumbersome with respect to employment history without any consolidation.</li>
  1348. </ul>
  1349. <p><strong> </strong></p>
  1350. <ol start="4">
  1351. <li><strong> Tax and Compliance Issues</strong></li>
  1352. </ol>
  1353. <ul>
  1354. <li>Tax Deduction: Tax may apply to PF account withdrawals less than five years. If PAN is not updated, then there could be high TDS.</li>
  1355. <li>Penalty for Early Withdrawal: A fine may sometimes be imposed by the government for prohibitive conditions of withdrawal.</li>
  1356. </ul>
  1357. <ol start="5">
  1358. <li><strong> Documentation Problems</strong></li>
  1359. </ol>
  1360. <ul>
  1361. <li>Wrong Bank Account: Claim maybe not process due to bank particulars not correct or updated or verified.</li>
  1362. <li>Missing or Outdated Records: Not having sufficient employer contribution records or incomplete detail within PF account can hinder withdraw.</li>
  1363. </ul>
  1364. <h2><strong>FAQ on PF</strong></h2>
  1365. <p><strong>Q1:</strong> What is a Universal Account Number (UAN), and its importance?</p>
  1366. <p><strong>A:</strong> The UAN is a 12-digit number allocated to every employee who contributes to the EPF, this number is a unique identifier. It acts as an umbrella for multiple Member IDs assigned to an individual by different employers. The UAN allows the workers to manage their PF balances across employment, enabling them to transfer balances and make withdrawals with ease.</p>
  1367. <p><strong>Q2:</strong> How much contribution is made to the PF account on a monthly basis?</p>
  1368. <p><strong>A:</strong> The monthly contribution by both the employer and the employee to the PF account is 12 percent of the employee’s basic salary plus the dearness allowance. From the contribution of the employer which is 12%, 8.33 percent is remitted to the Employee Pension Scheme (EPS) and the balance of 3.67 percent is paid into the EPF account.</p>
  1369. <p><strong>Q3:</strong> Can I withdraw the PF balance before reaching menopause?</p>
  1370. <p><strong>A:</strong> Yes, partial withdrawal is allowed under specific conditions, such as:</p>
  1371. <ul>
  1372. <li>Medical emergencies.</li>
  1373. <li>Marriage or higher education expenses.</li>
  1374. <li>Purchasing or constructing a house.</li>
  1375. <li>Loss of employment (after 2 months of unemployment).</li>
  1376. </ul>
  1377. <p><strong>Q4:</strong> How do I check my PF amount online?</p>
  1378. <p><strong>A:</strong> You can check your PF balance through the following:</p>
  1379. <ul>
  1380. <li>Login to EPFO member portal with your UAN and password.</li>
  1381. <li>Text the phrase &#8220;EPFOHO UAN&#8221; to the following number: 7738299899.</li>
  1382. <li>Set up on the Umang App to check out your balance.</li>
  1383. </ul>
  1384. <p><strong>Q5.</strong> What happens if the employer fails to deposit PF on time?</p>
  1385. <p><strong>A:</strong> Erasing or delaying the payment of PF, liabilities invite penalties, interest charge, and unfriendly legal positions. It is also within the powers of the EPFO to impose damages of between five percent to one hundred percent of the amount of contribution depending on how long it took the employer to settle his obligation.</p>
  1386. <p><strong>Q6.</strong> How do employers generate UAN for new employees?</p>
  1387. <p><strong>A:</strong> Companies are able to register a UAN to the new employees through the EPFO employers’ website after providing him or her with his/her Aadhaar number, PAN number, and bank account number information. If all the information provided is correct, the UAN is subsequently created on the spot.</p>
  1388. <p><strong>Q7.</strong> If an employer is registered with EPFO and files ECR then does he require filing ECR every month separately?</p>
  1389. <p><strong>A:</strong> Yes, each month, an ECR (Electronic Vouchers and Return) needs to be created and uploaded by the employers who must declare the contributions of their employees. This is to safeguard compliance and ensure that contributions of the employees are credited to their accounts in time.</p>
  1390. <p><strong>Q8.</strong> How is the PF balance transferred to a different account when a person switches jobs?</p>
  1391. <p><strong>A:</strong> The transfer of PF (provident fund) is automatic if the UAN is active and the member has completed the KYC process. In a situation where this is not applicable Tap on the ‘transfer request’ by clicking on the UAN Portal through ‘On line Services &gt; One Member One EPF Account’.</p>
  1392. <p><strong>Q9.</strong> Is it possible to not contribute to PF?</p>
  1393. <p><strong>A:</strong> To those who have a basic pay of over ₹ 15,000, the threshold can be submitted n form 11 at the time when they commence their first employment. Yet, If you registered for PF contributions you would not be able to opt out of it.</p>
  1394. <p><strong>Q10.</strong> Do I still have a PF account that I have not cashed out after retirement?</p>
  1395. <p><strong>A:</strong> Your PF account will continue to accrue interest for up to three years. Subsequently, it will be categorized as dormant and cease to gain interest.</p>
  1396. <p><strong>Q11. </strong>Can I withdraw amount from PF account at the time of unemployment?</p>
  1397. <p><strong>     A: </strong>Yes, withdrawing from PF account is possible at the time of unemployment. If the unemployment has been for a longer duration, then they can withdraw fully or else partial withdrawal after certain period is allowed. The steps for the same are given below:</p>
  1398. <ol>
  1399. <li><strong>Log into the portal for PF: </strong>Either access the official Employees&#8217; Provident Fund Organisation portal (in India) or the equivalent in your country.</li>
  1400. </ol>
  1401. <p><strong> </strong><strong> </strong></p>
  1402. <ol>
  1403. <li><strong>KYC Verification: </strong>Ensure your KYC details are updated and verified (Aadhar, PAN, and bank account).</li>
  1404. </ol>
  1405. <ul>
  1406. <li><strong>File a Claim Online: </strong>From the &#8220;Online Services&#8221; section, select &#8220;Claim (Form-31, 19 &amp; 10C)&#8221;. Choose the type of withdrawal (partial or complete).</li>
  1407. </ul>
  1408. <ol>
  1409. <li><strong>Processing: </strong>Most of the claims take around 10 to 15 working days for processing.</li>
  1410. <li><strong>Disbursement: </strong>The approved funds will directly be credited to your bank account.</li>
  1411. </ol>
  1412. <p>&nbsp;</p>
  1413. <p>This article has been contributed by <strong>Ms. Janani N, </strong>with the help of Team IN Filings.</p>
  1414. <blockquote><p>For professional support with PF filing, reach out to <a href="https://teamindia.co.in/pf-return-filing/"><strong>Team IN Filings</strong></a>, your trusted PF partner in Bangalore for all PF-related services.</p>
  1415. <p>for PF related Payroll process contact <a href="https://prakashaandco.com/payroll-bangalore-2/">Prakasha And Co,</a> banaglore leading Payroll service</p></blockquote>
  1416. ]]></content:encoded>
  1418. <wfw:commentRss>https://teamindia.co.in/how-to-file-pf-online/feed/</wfw:commentRss>
  1419. <slash:comments>0</slash:comments>
  1422. </item>
  1423. <item>
  1424. <title>How to File ESI online?</title>
  1425. <link>https://teamindia.co.in/how-to-file-esi-online/</link>
  1426. <comments>https://teamindia.co.in/how-to-file-esi-online/#respond</comments>
  1428. <dc:creator><![CDATA[Admin]]></dc:creator>
  1429. <pubDate>Wed, 11 Dec 2024 07:31:04 +0000</pubDate>
  1430. <category><![CDATA[Blogs]]></category>
  1431. <guid isPermaLink="false">https://teamindia.co.in/?p=18343</guid>
  1432.  
  1433. <description><![CDATA[Esi Online process ESI is a Government of India&#8217;s insurance benefits scheme that provides workers health insurance,  maternity coverage, disability, and other benefits. Under the terms of the ESI Act, of 1948, employers are required to file ESI online for their workers. Under ESI coverage, Employees and his/her dependent family members are protected from medical [&#8230;]]]></description>
  1434. <content:encoded><![CDATA[<h2>Esi Online process</h2>
  1435. <p>ESI is a Government of India&#8217;s insurance benefits scheme that provides workers health insurance,  maternity coverage, disability, and other benefits. Under the terms of the ESI Act, of 1948, employers are required to file ESI online for their workers. Under ESI coverage, Employees and his/her dependent family members are protected from medical risks including illness, and injury-related costs.</p>
  1436. <h2>How to file ESI?</h2>
  1437. <p>Before filing an employee <strong>ESI contribution</strong> online, the employer must have there <a href="https://teamindia.co.in/esi-registration-esi-filing/">ESI registered</a> and hold the ESI login ID, the ESI &amp; PF can be registered using common registration at Shram Suvidha online at free of cost, the link to register is <a href="https://registration.shramsuvidha.gov.in/">here</a>. Within one day from <a href="https://prakashaandco.com/pf-and-esi-registration-services-in-bangalore/">Prakasha &amp; Co</a> you will get the ESI registration.</p>
  1438. <h3>Step 1: Ensure Eligibility for ESI</h3>
  1439. <p>The first criteria to register with ESI as an employer, your company must have an employee count 10+ above.</p>
  1440. <p>And ESI filing purposes, Employees with salaries up to 21000 per month are eligible to register under ESI Act. The other eligibility criteria are:</p>
  1441. <ul>
  1442. <li><strong>Employees limit</strong>: Establishments with 10 or more employees are required to register under the ESI Act.</li>
  1443. <li><strong>Salary or Wage Ceiling</strong>: Employees whose monthly wages are ₹21,000 or less (₹25,000 for persons with disabilities) are eligible for ESI coverage.</li>
  1444. </ul>
  1445. <p>If your establishment meets these criteria, you can proceed with registration.</p>
  1446. <h3><strong>Step 2: Determine ESI Contribution</strong></h3>
  1447. <p>Every company there ESI to be remitted to Esi department by online on or before 15<sup>th</sup> of the each month to get the continuity of the ESI benefits their staff.</p>
  1448. <p>The Esi contribution limit is as follows:</p>
  1449. <ul>
  1450. <li><strong>Employee Contribution</strong>: 0.75% of the employee&#8217;s total Gross salary.</li>
  1451. <li><strong>Employer Contribution</strong>: 3.25% of the employee Total Gross salary.</li>
  1452. <li><strong>Total Esi Contribution</strong>: 4% (0.75%  employee + 3.25% company ) of the gross wages.</li>
  1453. </ul>
  1454. <p><strong>Wages Ceiling</strong>: Employees earning ₹21,000 or less per month are covered under ESI. Employees earning above this threshold are not eligible for ESI coverage.</p>
  1455. <h3>Step 3: Log in to the ESIC Portal</h3>
  1456. <p>Once you have the ESI registered, you can access the ESIC Portal for the filing process.</p>
  1457. <p><strong>Visit the ESIC Portal</strong>: Go to <a href="https://www.esic.in/EmployerPortal/ESICInsurancePortal/Portal_Loginnew.aspx">ESI employer login link</a></p>
  1458. <p><strong>Login</strong>:</p>
  1459. <ul>
  1460. <li>Enter ESIC user name as <strong>“Employer ESIC code”</strong> example: 49000659860001099</li>
  1461. <li>Next Enter your ESIC <strong>Password</strong>,  If you don&#8217;t have a password, you can reset it by following the instructions.</li>
  1462. </ul>
  1463. <h3></h3>
  1464. <p><img loading="lazy" decoding="async" class="size-medium wp-image-18345 alignleft" src="https://teamindia.co.in/wp-content/uploads/2024/12/esic-loginpage-300x150.jpg" alt="esic login page" width="300" height="150" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/esic-loginpage-300x150.jpg 300w, https://teamindia.co.in/wp-content/uploads/2024/12/esic-loginpage-768x384.jpg 768w, https://teamindia.co.in/wp-content/uploads/2024/12/esic-loginpage.jpg 940w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1465. <h3><strong>Checklist for Monthly ESI upload</strong></h3>
  1466. <ol>
  1467. <li><strong> Update for New Joiners:</strong></li>
  1468. </ol>
  1469. <p><strong>1. Any new joiners and there salary is upto 21000, add in ESIC within 10 days of joining.</strong></p>
  1470. <p><strong>2. Check with HR if they are holding ESIC IP numbers; if not, create a new IP number.</strong></p>
  1471. <p><strong>3. To create a new IP, get the new employee&#8217;s pan, Aadar, email, mobile number, family members&#8217; </strong><strong>data information and nominee, bank a/c number, and IFSC code.</strong></p>
  1472. <p><strong> </strong></p>
  1473. <ol>
  1474. <li>
  1475. <h4><strong> Verify Employee Esi Database:</strong></h4>
  1476. </li>
  1477. </ol>
  1478. <p><strong>a. Review the current month&#8217;s employee Esi database to ensure all records are updated.</strong></p>
  1479. <p><strong>b. Update the status of employees who:</strong></p>
  1480. <ol>
  1481. <li><strong> has left the organization.</strong></li>
  1482. <li><strong> Are on leave or other non-contributing statuses</strong><strong>.</strong></li>
  1483. </ol>
  1484. <p><strong> c. </strong><strong style="font-size: 16px;">Review and Submit:</strong></p>
  1485. <p><strong>d. Validate the data as per HR payroll file before uploading data to Esi</strong></p>
  1486. <p><strong>e. Submit the ESI return and generate the Esi challan to make the payment</strong></p>
  1487. <h2>Step 4: Employee ESI data format</h2>
  1488. <p><img loading="lazy" decoding="async" class="alignnone  wp-image-18346" src="https://teamindia.co.in/wp-content/uploads/2024/12/esic-cont-data-300x87.jpg" alt="esic contribution data" width="383" height="111" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/esic-cont-data-300x87.jpg 300w, https://teamindia.co.in/wp-content/uploads/2024/12/esic-cont-data-768x224.jpg 768w, https://teamindia.co.in/wp-content/uploads/2024/12/esic-cont-data.jpg 940w" sizes="(max-width: 383px) 100vw, 383px" /></p>
  1489. <p>&nbsp;</p>
  1490. <h2>Step 5: Upload the Esi Contribution online</h2>
  1491. <p>After logging in to the ESIC, the next step is to click on the tab, File monthly contribution to upload. The next steps are:-</p>
  1492. <ol>
  1493. <li><strong>Choose the Contribution Period</strong>: Select the previous month &amp; year for which you want to file the contribution.</li>
  1494. <li><strong>Verify Employee Information</strong>: Ensure that all the employee details like total headcount, and there total Esi wages, and contribution amounts, are correct before final submit.</li>
  1495. </ol>
  1496. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18347" src="https://teamindia.co.in/wp-content/uploads/2024/12/verifyemployee-esi-300x149.jpg" alt="verify esi " width="300" height="149" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/verifyemployee-esi-300x149.jpg 300w, https://teamindia.co.in/wp-content/uploads/2024/12/verifyemployee-esi-768x382.jpg 768w, https://teamindia.co.in/wp-content/uploads/2024/12/verifyemployee-esi.jpg 940w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1497. <p>&nbsp;</p>
  1498. <p>Step 6. <strong>Fill Maternity Contribution Details</strong></p>
  1499. <ol>
  1500. <li>You must make sure of the filing ESI contributions, including Maternity Contributions (MC):
  1501. <p>Data about Female Employees: Enter the information about female employees who qualify for maternity benefits under the ESI program. During the previous year, these workers had to have contributed for at least 70 days.</li>
  1502. <li>
  1503. Contribution Calculation: Using the salaries of qualified female employees, the system will determine the MC (Maternity Contribution).</li>
  1504. </ol>
  1505. <p>&nbsp;</p>
  1506. <p>Step 7. Verify Esi wages Uploaded Details</p>
  1507. <p>  <strong>Employees ESI salary Data Verification</strong>:</p>
  1508. <ul>
  1509. <li>Ensure that the employees ESI <strong>wages</strong> of all employees are correctly taken as per HR input, including the female employees eligible for maternity benefits.</li>
  1510. <li>Check that the <strong>number of days</strong> attended and that all contributions (both employer and employee) are calculated correctly.</li>
  1511. </ul>
  1512. <p>  employees <strong>Maternity Contribution (MC)</strong>:</p>
  1513. <ul>
  1514. <li>For eligible female employees, verify that the <strong>Maternity Contribution</strong> has been correctly calculated. This is usually part of the overall contribution and is a part of the total ESI contribution.</li>
  1515. <li>Ensure that the female employees have contributed for at least <strong>70 days</strong> within the last 12 months to qualify for maternity benefits.</li>
  1516. </ul>
  1517. <p>  <strong>Contribution Amounts</strong>:</p>
  1518. <ul>
  1519. <li>Check that the employee esi s<strong>hare</strong> (0.75%) and the <strong>employer share</strong> (3.25%) of the total contribution at 4% for each employee.</li>
  1520. <li>Verify the total contribution amounts, including the maternity benefits contribution, and ensure that the final figures match what is expected.</li>
  1521. </ul>
  1522. <h2>Step 8. Make Esi Payment:</h2>
  1523. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18348" src="https://teamindia.co.in/wp-content/uploads/2024/12/esi-pay-300x157.jpg" alt="esi pay" width="300" height="157" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/esi-pay-300x157.jpg 300w, https://teamindia.co.in/wp-content/uploads/2024/12/esi-pay-768x402.jpg 768w, https://teamindia.co.in/wp-content/uploads/2024/12/esi-pay.jpg 940w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1524. <p>The next step is to make the ESI payment through the bank.</p>
  1525. <ol>
  1526. <li><strong>Select esi Payment Method</strong>:
  1527. <ul>
  1528. <li>Payment can be made through <strong>Net Banking</strong> a the ESIC portal.</li>
  1529. <li>Click on the <a href="https://www.esic.in/ESICInsurance1/Revenueone/Monthly%20Contribution/echallan.aspx">esic pay link</a></li>
  1530. <li>Enter the Esic code and search, you will find the esic challan number,</li>
  1531. <li>Click on the Esic challan and choose the bank to proceed <strong>&#8220;Make Payment&#8221;</strong></li>
  1532. </ul>
  1533. </li>
  1534. <li><strong>Complete Payment</strong>:
  1535. <ul>
  1536. <li>Make the payment using the details on the challan.</li>
  1537. <li>Ensure the payment is made on or before <strong>15 of the following month</strong>. For example, for Nov-2024 contributions, payment must be made on or before Dec 15<sup>th</sup> 2024.</li>
  1538. </ul>
  1539. </li>
  1540. </ol>
  1541. <h3>Step 9 : Download the Esic Contribution Receipt</h3>
  1542. <p>After the esi payment, you will receive a <strong>Payment Acknowledgment</strong> or <strong>Challan Receipt</strong>.</p>
  1543. <ul>
  1544. <li><strong>Download the Acknowledgment</strong>: Save the ESI paid acknowledgment for your records. This serves as proof of payment and can be used for audits or future reference.</li>
  1545. </ul>
  1546. <p><strong> </strong></p>
  1547. <p><strong>Step 10: Submit Zero ESI Return</strong></p>
  1548. <p>Every ESI registered, must file there ESIC return everymonth though no employees comes under ESI limit, this is in line with ESIC Act, most <a href="https://prakashaandco.com/private-ltd-company-registration-in-bangalore/">new private companies</a> get there ESIC thorugh there Registration Spice forms, hence after 6monhs of waiting period of there esic registration, they must file the ESIC Nil return to keep the Esic compliant, else they have to make penalty on this.</p>
  1549. <p>&nbsp;</p>
  1550. <h2> Step 10:  Review ESIC Compliance</h2>
  1551. <p>Important Things in Esic</p>
  1552. <ul>
  1553. <li>Make the ESIC employee&#8217;s applicability check every first week after the half-year period ends like 1<sup>st</sup> April to 30<sup>th</sup> Sept, 1<sup>st</sup> Oct to 31<sup>st</sup> March, to exclude the ESI deduction for staff whose salary is more than 21000</li>
  1554. <li>Maternity Eligibility: female staff has made at least 70 days contributions to the ESI fund during the previous 12 months, she is qualified for maternity benefits.</li>
  1555. <li>Timely Filing: To avoid late fees and fines, be sure that payments and contributions are submitted by the fifteenth of each following month.</li>
  1556. <li>Penalties for Postponement: ESI Penalties may be imposed for late payments or for not filing on time or delay, make the response to ESIC notice to cleanup.</li>
  1557. <li>Correct Information: Verify all employee ESI registered information, including salaries and contributions for female employees who qualify for maternity benefits.</li>
  1558. </ul>
  1559. <p>&nbsp;</p>
  1560. <blockquote><p>With the support of Prakasha &amp; Co., <strong>Bhushan T.</strong> presents this comprehensive guide to ESI filing.</p></blockquote>
  1561. ]]></content:encoded>
  1563. <wfw:commentRss>https://teamindia.co.in/how-to-file-esi-online/feed/</wfw:commentRss>
  1564. <slash:comments>0</slash:comments>
  1567. </item>
  1568. <item>
  1569. <title>How to file Director Changes DIR 12?</title>
  1570. <link>https://teamindia.co.in/how-to-file-director-changes-dir-12/</link>
  1571. <comments>https://teamindia.co.in/how-to-file-director-changes-dir-12/#comments</comments>
  1573. <dc:creator><![CDATA[Admin]]></dc:creator>
  1574. <pubDate>Thu, 05 Dec 2024 14:58:20 +0000</pubDate>
  1575. <category><![CDATA[Blogs]]></category>
  1576. <guid isPermaLink="false">https://teamindia.co.in/?p=18332</guid>
  1577.  
  1578. <description><![CDATA[Dir 12 The form DIR 12 has been designed with the goal of making the process for submitting appointments and changes to the particulars of directors and other key managerial personnel simpler. In any company, changes of Directors like resignation, Appointment are common, to update those, Director changes Dir-12 must be filed. In all these [&#8230;]]]></description>
  1579. <content:encoded><![CDATA[<h2>Dir 12</h2>
  1580. <p>The form <strong>DIR 12</strong> has been designed with the goal of making the process for submitting appointments and changes to the particulars of directors and other key managerial personnel simpler.</p>
  1581. <p>In any company, changes of Directors like resignation, Appointment are common, to update those, Director changes Dir-12 must be filed. In all these situations, the changes must be updated at MCA corporate records, by using Dir 12, to do the director changes in a company, data base records, you must file within <strong>30 days</strong> from the date of changes. Form DIR 12 is used to inform the Registrar of Companies (ROC) about these changes.</p>
  1582. <p>Below is a simplified process to file the Form Dir 12.</p>
  1583. <h2><strong>Key contents of DIR 12</strong></h2>
  1584. <p>Form DIR-12 is the e-form to be used for update of changes in directors. Below are the main details contained in the form:</p>
  1585. <ol>
  1586. <li>
  1587. <h3><strong>Company Details:</strong></h3>
  1588. </li>
  1589. </ol>
  1590. <ol>
  1591. <li style="list-style-type: none;">
  1592. <ul>
  1593. <li>Corporate Identity Number (CIN) of the company.</li>
  1594. <li>Name and registered office address.</li>
  1595. <li>Official email ID of the company.</li>
  1596. </ul>
  1597. </li>
  1598. <li>
  1599. <h3><strong>Purpose of Filing:</strong></h3>
  1600. <ul>
  1601. <li><strong>Whether the form is for:</strong>
  1602. <ul>
  1603. <li>Appointment of a director.</li>
  1604. <li>Resignation of a director.</li>
  1605. <li>Change in designation of a director or KMP.</li>
  1606. </ul>
  1607. </li>
  1608. </ul>
  1609. </li>
  1610. <li>
  1611. <h3><strong>Director Details:</strong></h3>
  1612. <ul>
  1613. <li>Director Identification Number (DIN).</li>
  1614. <li>Full name, father’s name, and residential address.</li>
  1615. <li>Designation (Director/Managing Director, etc.).</li>
  1616. <li>Date of appointment, resignation, or change in designation.</li>
  1617. </ul>
  1618. </li>
  1619. <li>
  1620. <h3><strong>Board Resolution Reference:</strong></h3>
  1621. <ul>
  1622. <li>Confirmation that a board resolution or approval from a general meeting has been passed for the change.</li>
  1623. </ul>
  1624. </li>
  1625. </ol>
  1626. <p><strong> </strong></p>
  1627. <ol>
  1628. <li>
  1629. <h3><strong>Attachments Section:</strong></h3>
  1630. <ul>
  1631. <li style="list-style-type: none;">
  1632. <ul>
  1633. <li>Resignation letter (if its for Resigned).</li>
  1634. <li>Evidence of Acceptance letter (if its related to resigned)</li>
  1635. <li>Consent letter (DIR-2). (if tis for appointment)</li>
  1636. <li>Copy of the board or general meeting resolution.</li>
  1637. </ul>
  1638. </li>
  1639. </ul>
  1640. </li>
  1641. </ol>
  1642. <p><strong> <img loading="lazy" decoding="async" class="alignnone wp-image-18333" src="https://teamindia.co.in/wp-content/uploads/2024/12/attach-300x54.png" alt="attachment dir 12" width="406" height="73" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/attach-300x54.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/attach-768x139.png 768w, https://teamindia.co.in/wp-content/uploads/2024/12/attach.png 944w" sizes="(max-width: 406px) 100vw, 406px" /></strong></p>
  1643. <ol>
  1644. <li>
  1645. <h3><strong>Digital Signature Section:</strong></h3>
  1646. <ul>
  1647. <li><strong>To be signed by:</strong>
  1648. <ul>
  1649. <li>Authorized director of the company.</li>
  1650. <li>New Director DSC attestation is required</li>
  1651. <li>A practicing professional (<a href="https://prakashaandco.com/company-secretary-near-me/">CS</a>) certifying the form.*</li>
  1652. </ul>
  1653. </li>
  1654. </ul>
  1655. </li>
  1656. <li><strong>Declaration:</strong>
  1657. <ul>
  1658. <li>Confirmation that the information provided is correct and complies with the Companies Act, 2013.</li>
  1659. </ul>
  1660. </li>
  1661. </ol>
  1662. <p><strong> <img loading="lazy" decoding="async" class="alignnone wp-image-18334 size-medium" src="https://teamindia.co.in/wp-content/uploads/2024/12/declaration-300x228.png" alt="Declaration" width="300" height="228" /></strong></p>
  1663. <p><strong> </strong></p>
  1664. <h2><strong> </strong><strong>Importance of DIR-12</strong></h2>
  1665. <p>Only DIR 12 to be filed with the ROC to update records regarding:</p>
  1666. <ol>
  1667. <li><strong>Appointment of a director</strong> or key managerial personnel.</li>
  1668. <li><strong>Resignation of a director</strong> or key managerial personnel.</li>
  1669. <li>Change in <strong>designation</strong> of a director or key managerial personnel.</li>
  1670. </ol>
  1671. <h2><strong>Step-by-Step Procedure on filing Dir-12</strong></h2>
  1672. <ol>
  1673. <li><strong> Documentation Preparation</strong></li>
  1674. </ol>
  1675. <p>Before filling out Form DIR-12, ensure the following documents are ready:</p>
  1676. <ul>
  1677. <li><strong>Appointment Documents:</strong>
  1678. <ul>
  1679. <li>Consent letter in Form DIR-2 from the<a href="https://teamindia.co.in/appointment-letter/"> incoming director</a>.</li>
  1680. <li>Board resolution or general meeting resolution approving the appointment.</li>
  1681. </ul>
  1682. </li>
  1683. <li><strong>Resignation Documents:</strong>
  1684. <ul>
  1685. <li><a href="https://teamindia.co.in/resignation-letter/">Resignation letter</a> from the outgoing director.</li>
  1686. <li>Board resolution accepting the resignation.</li>
  1687. <li>Acknowledgement of resignation acceptance.</li>
  1688. </ul>
  1689. </li>
  1690. <li><strong>Change in Designation Documents:</strong>
  1691. <ul>
  1692. <li>Board resolution approving the change in designation.</li>
  1693. </ul>
  1694. </li>
  1695. </ul>
  1696. <ol start="2">
  1697. <li>
  1698. <h3><strong> Convene a Board Meeting</strong></h3>
  1699. </li>
  1700. </ol>
  1701. <ul>
  1702. <li>Pass the necessary resolution for:
  1703. <ul>
  1704. <li>Appointment of a new director.</li>
  1705. <li>Acceptance of resignation.</li>
  1706. <li>Change in designation, if applicable.</li>
  1707. </ul>
  1708. </li>
  1709. </ul>
  1710. <ol start="3">
  1711. <li>
  1712. <h3><strong> Update Records Internally</strong></h3>
  1713. </li>
  1714. </ol>
  1715. <p>Update the company’s register of directors and key managerial personnel as required by Section 170 of the Companies Act, 2013.</p>
  1716. <p><strong> </strong></p>
  1717. <ol start="4">
  1718. <li>
  1719. <h2><strong> Fill Form DIR-12</strong></h2>
  1720. </li>
  1721. </ol>
  1722. <p><strong>Step 1: Login to the MCA Portal</strong></p>
  1723. <ul>
  1724. <li>Visit the <a href="https://www.mca.gov.in/content/mca/global/en/foportal/fologin.html">MCA website.</a></li>
  1725. <li>Use your registered credentials to log in to your account.</li>
  1726. </ul>
  1727. <p><img loading="lazy" decoding="async" class="alignnone wp-image-18335 size-medium" src="https://teamindia.co.in/wp-content/uploads/2024/12/mcalogin-300x72.png" alt="mca login" width="300" height="72" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/mcalogin-300x72.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/mcalogin-1024x247.png 1024w, https://teamindia.co.in/wp-content/uploads/2024/12/mcalogin-768x185.png 768w, https://teamindia.co.in/wp-content/uploads/2024/12/mcalogin-1536x371.png 1536w, https://teamindia.co.in/wp-content/uploads/2024/12/mcalogin.png 1582w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1728. <p>&nbsp;</p>
  1729. <p><strong>Step 2: Access Form DIR-12</strong></p>
  1730. <ul>
  1731. <li>Navigate to the <a href="https://www.mca.gov.in/content/mca/global/en/home.html"><strong>MCA Services</strong></a> section.</li>
  1732. <li>Select <strong>e-Filing &gt; Company Forms &gt; DIN Related Forms</strong>.</li>
  1733. <li>Click on <strong>Form DIR 12</strong> to begin.</li>
  1734. </ul>
  1735. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18336" src="https://teamindia.co.in/wp-content/uploads/2024/12/dir-12-access-300x141.png" alt="dir 12 access" width="300" height="141" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/dir-12-access-300x141.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/dir-12-access.png 640w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1736. <p>&nbsp;</p>
  1737. <p><strong>Step 3: Enter the Company CIN</strong></p>
  1738. <ul>
  1739. <li>Input the <strong>Corporate Identity Number (CIN)</strong> of the company.</li>
  1740. <li>Click on <strong>Pre-fill</strong> to auto-populate the company details.</li>
  1741. </ul>
  1742. <p><strong>Step 4: Choose the Purpose of Filing</strong></p>
  1743. <ul>
  1744. <li>Select the reason for filing:
  1745. <ul>
  1746. <li><strong>Appointment</strong> of a director.</li>
  1747. <li><strong>Resignation</strong> of a director.</li>
  1748. <li><strong>Change in Designation</strong>.</li>
  1749. </ul>
  1750. </li>
  1751. <li>Enter the <strong>date of the event</strong> (appointment/resignation/change).</li>
  1752. </ul>
  1753. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18337" src="https://teamindia.co.in/wp-content/uploads/2024/12/date-of-even-300x131.png" alt="date of event" width="300" height="131" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/date-of-even-300x131.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/date-of-even.png 629w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1754. <p><strong>Step 5: Provide Director Details</strong></p>
  1755. <ul>
  1756. <li>Enter details for each director, such as:
  1757. <ul>
  1758. <li><strong>DIN</strong>.</li>
  1759. <li><strong>Full name</strong> and <strong>designation</strong>.</li>
  1760. <li>Date of appointment or resignation.</li>
  1761. </ul>
  1762. </li>
  1763. <li>Click <strong>Add More</strong> to include multiple directors if needed.</li>
  1764. </ul>
  1765. <p><strong>Step 6: Attach Required Documents</strong></p>
  1766. <ul>
  1767. <li>Upload mandatory attachments like:
  1768. <ul>
  1769. <li><strong>DIR-2 (Consent Letter)</strong> for appointments.</li>
  1770. <li><strong>Resignation Letter</strong></li>
  1771. <li><strong>Acceptance Letter</strong>.</li>
  1772. <li><strong>Board Resolution</strong> approving the changes.</li>
  1773. </ul>
  1774. </li>
  1775. </ul>
  1776. <p><strong>Step 7: Generate and Download PDF</strong></p>
  1777. <ul>
  1778. <li>Click <strong>Submit</strong> to generate the <strong>e-Form DIR-12 (PDF)</strong>.</li>
  1779. <li>Download the generated form to your system.</li>
  1780. </ul>
  1781. <p><strong>Step 8: Attach Digital Signature</strong></p>
  1782. <ul>
  1783. <li>Open the downloaded form and attach the <strong>DSC</strong> of:
  1784. <ul>
  1785. <li>Authorized signatory director.</li>
  1786. <li>A practicing CS certifying the form.</li>
  1787. </ul>
  1788. </li>
  1789. </ul>
  1790. <p><strong>Step 9: Upload and Submit Form</strong></p>
  1791. <ul>
  1792. <li>Return to the <strong>Dashboard</strong> on the MCA portal.</li>
  1793. <li>Navigate to the <strong>Process Transaction</strong> tab and upload the signed DIR-12 form.</li>
  1794. <li>Verify the form for any errors.</li>
  1795. </ul>
  1796. <p><strong>Step 10: Make Payment</strong></p>
  1797. <ul>
  1798. <li>If no errors are found, proceed to payment of the filing fee.</li>
  1799. <li>Upon successful payment, the form will be submitted automatically.</li>
  1800. </ul>
  1801. <p><strong>Step 11: Auto-Approval and Update</strong></p>
  1802. <ul>
  1803. <li>The form is <strong>automatically approved</strong> without manual intervention.</li>
  1804. <li>Changes to the company’s directors will reflect on the MCA portal within <strong>2 hours</strong>.</li>
  1805. </ul>
  1806. <p>&nbsp;</p>
  1807. <p>Use the MCA portal to fill Form DIR 12 with the following details:</p>
  1808. <ul>
  1809. <li><strong>Company Details:</strong>
  1810. <ul>
  1811. <li>CIN, company name, and registered address.</li>
  1812. </ul>
  1813. </li>
  1814. <li><strong>Director Details:</strong>
  1815. <ul>
  1816. <li>DIN, name, address, and designation of the incoming and outgoing directors.</li>
  1817. </ul>
  1818. </li>
  1819. <li><strong>Effective Dates:</strong>
  1820. <ul>
  1821. <li>Date of appointment, resignation, or change in designation.</li>
  1822. </ul>
  1823. </li>
  1824. </ul>
  1825. <ol start="5">
  1826. <li><strong> Attach Documents</strong></li>
  1827. </ol>
  1828. <p>Attach the required documents to the Dir 12 form:</p>
  1829. <ul>
  1830. <li>Board <a href="https://prakashaandco.com/free-downloads-prakash-co-access-free/">resolutions</a>.</li>
  1831. <li>Resignation letter and acceptance (if applicable).</li>
  1832. <li>Consent letter in DIR-2 (if applicable).</li>
  1833. </ul>
  1834. <ol start="6">
  1835. <li><strong> Digital Signature</strong></li>
  1836. </ol>
  1837. <p>The form must be digitally signed by:</p>
  1838. <ul>
  1839. <li>A director of the company with an active DSC.</li>
  1840. <li>A practicing professional CS certifying the form.</li>
  1841. </ul>
  1842. <ol start="7">
  1843. <li><strong> Submit Form DIR-12</strong></li>
  1844. </ol>
  1845. <ul>
  1846. <li>Upload the form to the MCA portal and pay the prescribed filing fee.</li>
  1847. <li>Upon submission, the system will generate an SRN for tracking.</li>
  1848. </ul>
  1849. <ol start="8">
  1850. <li><strong> Acknowledgment by ROC</strong></li>
  1851. </ol>
  1852. <p>The ROC will process the form and issue an acknowledgment of approval.</p>
  1853. <h2><strong>Checklist Before Filing Form DIR-12</strong></h2>
  1854. <p>Before proceeding with the director changes in a company, ensure the following prerequisites are met to avoid filing errors or compliance issues:</p>
  1855. <ol>
  1856. <li>
  1857. <h3><strong>Company Status Verification:</strong></h3>
  1858. </li>
  1859. </ol>
  1860. <ol>
  1861. <li style="list-style-type: none;">
  1862. <ul>
  1863. <li>Check on the MCA portal if the company is in active status and compliant with all filing requirements.</li>
  1864. </ul>
  1865. </li>
  1866. <li>
  1867. <h3><strong>Commencement of Business <a href="https://prakashaandco.com/inc-20a/">COB</a></strong></h3>
  1868. <ul>
  1869. <li>For newly incorporated companies(new company incorporated with share capital after November 2, 2018), ensure that the Form INC-20A (Declaration of Commencement of Business) has been filed.</li>
  1870. </ul>
  1871. </li>
  1872. <li>
  1873. <h3><strong>Compliance with INC-22A:</strong></h3>
  1874. <ul>
  1875. <li>For companies incorporated on or before 31st December 2017, ensure Form INC-22A (Active Compliance) has been filed. Non-compliance will restrict filing capabilities.</li>
  1876. </ul>
  1877. </li>
  1878. <li>
  1879. <h3><strong>Director Identification Number (<a href="https://teamindia.co.in/din-kyc-2022-update/">DIN</a>):</strong></h3>
  1880. <ul>
  1881. <li>Verify that the DIN of the authorized signatory and the new director is active and not deactivated due to non-filing of DIR-3 KYC.</li>
  1882. </ul>
  1883. </li>
  1884. <li><strong>Digital Signature Certificate <a href="https://dscsign.com/">DSC</a>:</strong>
  1885. <ul>
  1886. <li><strong>Ensure the DSC of:</strong>
  1887. <ul>
  1888. <li>The authorized signatory director is valid and active.</li>
  1889. <li>The new director (if applicable) is registered and updated on the MCA V3 portal through a DSC roll check.</li>
  1890. </ul>
  1891. </li>
  1892. </ul>
  1893. </li>
  1894. <li><strong>Company’s Internal Compliance:</strong>
  1895. <ul>
  1896. <li>Confirm that the company has updated its Register of Directors and KMP internally and passed the necessary board resolution.</li>
  1897. </ul>
  1898. </li>
  1899. </ol>
  1900. <blockquote><p><strong> for the Lowest Cost Dsc contact <a href="https://dscsign.com/buy-certificate/">Dsc Sign Bangalore.</a></strong></p></blockquote>
  1901. <p><strong>Case Example: Greenvalley Facility Services Pvt Ltd.</strong></p>
  1902. <p>In this case:</p>
  1903. <ul>
  1904. <li><strong>Outgoing Director:</strong> Mr. Y Vijaykumar resigned with effective date 28/11/2024.</li>
  1905. <li><strong>Incoming Director:</strong> Ms. Gowramma was appointed on 28/11/2024.</li>
  1906. <li>The company updated its records via Form DIR-12 with appropriate resolutions and consents, as evidenced in the provided documents.</li>
  1907. </ul>
  1908. <p><strong>Common Errors to Avoid</strong></p>
  1909. <ol>
  1910. <li>Failing to update the company’s internal register of directors.</li>
  1911. </ol>
  1912. <ol start="2">
  1913. <li>The company should make sure that the appoint a new director within the next 30 days of the resignation of the previous director or else they would have to pay a penalty (especially if the company has only the minimum number of directors i.e., 2).</li>
  1914. </ol>
  1915. <ol>
  1916. <li>Incorrect or missing attachments, such as consent or resignation letters.</li>
  1917. </ol>
  1918. <ol start="4">
  1919. <li>Which applying for cessation in the form, the applicant must choose the reason for the cessation or else it would not proceed further.</li>
  1920. </ol>
  1921. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18338" src="https://teamindia.co.in/wp-content/uploads/2024/12/cessaion-300x143.png" alt="cessation image" width="300" height="143" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/cessaion-300x143.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/cessaion.png 629w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1922. <ol>
  1923. <li>Non-compliance with the digital signature requirement.</li>
  1924. <li>Incorrect PDF Version</li>
  1925. <li>DSC Not Associated</li>
  1926. <li>Payment Issues</li>
  1927. </ol>
  1928. <p><strong>Precautions to be taken by applicant while filing:</strong></p>
  1929. <ul>
  1930. <li>Compare and assess the signature on either the resignation letter or the appointment letter with the signatures on the documents that have been previously registered to identify any differences.</li>
  1931. <li>Regarding resignations, ensure that the resignation was submitted and it was accepted by the board and also that the board resolution contains the signature of the chairman of the meeting.</li>
  1932. <li>Seek and receive the expressed permission of the concerned director or any other competent individual attached to the Company, prior to opposing use of the director’s digital signature in form submissions.</li>
  1933. <li>Instilling in the directors the responsibility of the need to prevent forgery and the necessity of protecting their digital signature and personal information.</li>
  1934. </ul>
  1935. <p>&nbsp;</p>
  1936. <blockquote><p>For professional assistance in filing Form DIR 12 or other MCA compliance services, you may contact <strong>Team IN Filings</strong>, your trusted partner in legal and tax advisory services.</p>
  1937. <p>This artcile has been contrbuted by <strong>Mr. Buddha Bhushan </strong>&amp;<strong> Ms.Janani N</strong> with the help of seniors at Team IN Filings.</p></blockquote>
  1938. ]]></content:encoded>
  1940. <wfw:commentRss>https://teamindia.co.in/how-to-file-director-changes-dir-12/feed/</wfw:commentRss>
  1941. <slash:comments>1</slash:comments>
  1944. </item>
  1945. <item>
  1946. <title>How to do partnership Registration?</title>
  1947. <link>https://teamindia.co.in/how-to-do-partnership-registration/</link>
  1948. <comments>https://teamindia.co.in/how-to-do-partnership-registration/#respond</comments>
  1950. <dc:creator><![CDATA[Admin]]></dc:creator>
  1951. <pubDate>Mon, 02 Dec 2024 12:44:13 +0000</pubDate>
  1952. <category><![CDATA[Blogs]]></category>
  1953. <guid isPermaLink="false">https://teamindia.co.in/?p=18323</guid>
  1954.  
  1955. <description><![CDATA[Steps to Register a Partnership  A partnership occurs between 2 or more parties Orally* or with a written agreement of the partners business, for more about what is Firm, pls visit here. Where he can form the Partnership firm? In Bangalore, the partnership firm registration process begins with Registration of firms @ Kaveri online services [&#8230;]]]></description>
  1956. <content:encoded><![CDATA[<h2><strong>Steps to Register a Partnership</strong></h2>
  1957. <p><strong> </strong>A partnership occurs between 2 or more parties Orally* or with a written agreement of the partners business, for more about what is Firm, <a href="https://prakashaandco.com/start-a-business/">pls visit here.</a></p>
  1958. <h3><strong>Where he can form the Partnership firm?</strong></h3>
  1959. <p>In Bangalore, the partnership firm registration process begins with Registration of firms @ <a href="https://kaveri.karnataka.gov.in/landing-page">Kaveri online services</a></p>
  1960. <p><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18324" src="https://teamindia.co.in/wp-content/uploads/2024/12/login-of-firm-300x131.png" alt="Login to Firm" width="300" height="131" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/login-of-firm-300x131.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/login-of-firm-1024x448.png 1024w, https://teamindia.co.in/wp-content/uploads/2024/12/login-of-firm-768x336.png 768w, https://teamindia.co.in/wp-content/uploads/2024/12/login-of-firm.png 1038w" sizes="(max-width: 300px) 100vw, 300px" /></p>
  1961. <p>&nbsp;</p>
  1962. <p>Partners must have the following details to create a perfect partnership deed:</p>
  1963. <h2><strong>Agreement clauses (In Partnership Deed) &#8211;</strong></h2>
  1964. <ol>
  1965. <li>Name and address of firm and partners &amp; No of Partners</li>
  1966. <li>Nature of Business &amp; Place of Business</li>
  1967. <li>Capital contribution &amp; Profit and loss sharing Ratio</li>
  1968. <li>Duties, Responsibilities and Authority of each partner</li>
  1969. <li>Terms and conditions for Admission, retirement and death of partner</li>
  1970. <li>Dispute resolution: In case of dispute among the partners, it can be resolved by mutual discussions or Appoint an Arbitrator*.</li>
  1971. <li>Other Business specific terms and conditions</li>
  1972. <li>Signature of partners and witnesses.</li>
  1973. </ol>
  1974. <p><strong> </strong></p>
  1975. <p>The Partnership deed must be drafted under the guidance of experienced professionals like <a href="https://prakashaandco.com/legal-services/">Prakasha And Co,</a> so that it is perfectly legally binding and does not miss any important details. So, Team IN Filings could help you with Partnership deed as well as the registration process without any hassle:</p>
  1976. <p><strong>Contact Us</strong></p>
  1977. <p>For making good partnership firm registration or related queries, feel free to reach out to <strong>Team IN Filings, Bangalore</strong>, your trusted tax and compliance partner.</p>
  1978. <p><strong><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4e7.png" alt="📧" class="wp-smiley" style="height: 1em; max-height: 1em;" /></strong><strong> Email</strong>: team@teamindia.co.in<br />
  1979. <strong><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4de.png" alt="📞" class="wp-smiley" style="height: 1em; max-height: 1em;" /></strong><strong> Phone</strong>: +91-7019827351<br />
  1980. <strong><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4cd.png" alt="📍" class="wp-smiley" style="height: 1em; max-height: 1em;" /></strong><strong> Location</strong>: Sahakarnagar Bangalore, Karnataka</p>
  1981. <p>Let us handle the firm complexities so you can focus on your financial goals.</p>
  1982. <h2><strong>Firm Required Documents</strong></h2>
  1983. <p>For registration of a partnership firm in Karnataka, the following documents are required:</p>
  1984. <ul>
  1985. <li><strong>Partnership Deed</strong>: Must stipulate the terms of partnership and must be signed by all partners an e-stamp of Rs.2000.</li>
  1986. <li><strong>Application Form</strong>: Application Form (Form-1) is available at <a href="https://igr.karnataka.gov.in/storage/pdf-files/model-deeds/Frm%201.pdf">Registrar of Firms</a>&#8216; office or online and the forms must contain: Name of the firm; Nature of business; Address.</li>
  1987. <li><strong>Affidavit</strong>: Sworn declaration that the firm is complying with certain provisions of the Partnership Act 1932.</li>
  1988. <li><strong>PAN Card</strong>: Requires copies for the partners of the firm along with any 1 ID proof.</li>
  1989. <li><strong>Proof of Business</strong> Address: Documents such as rental agreements, utility bills, or ownership documents concerning the business premises.</li>
  1990. </ul>
  1991. <h2><strong>Partnership registration process (in Karnataka):</strong></h2>
  1992. <p>For example, If <strong>ABC</strong> and <strong>XYZ</strong> want to commence a partnership firm, then the following are the steps that they need to follow:</p>
  1993. <p><strong>Step 1: </strong>They need to make sure that the objective of their business is considered<strong> legal</strong> in the eyes of law.</p>
  1994. <p><strong>Step 2:</strong> Once both of the parties are agreeing to enter into partnership, they need to accept there mutually agreed business terms and conditions as per the partnership deed.</p>
  1995. <p>The partnership deed is a legal document, which includes the terms and conditions under which the parties have come together to form a partnership. It must cover the following:</p>
  1996. <ul>
  1997. <li>Name of the Firm,</li>
  1998. <li>Addresses place of the firm.</li>
  1999. <li>Name, father name and addresses of all partners.</li>
  2000. <li>Capital contribution by each.</li>
  2001. <li>Profit-sharing ratios.</li>
  2002. <li>Roles, duties, responsibilities of each partner.</li>
  2003. <li>Any special power with any partner to be specified</li>
  2004. <li>Clauses for dispute resolution, admission or retirement of partners, and dissolution of the firm.</li>
  2005. </ul>
  2006. <p><strong>Step 3: </strong>Now ABC and XYZ need to notarize the deed by a public notary and also sign the deed (by all partners) in the presence of the notary.</p>
  2007. <p><strong>Step 4: </strong>Next, they have to collect/download Form 1 Application for Registration of a Partnership Firm from Karnataka Registrar of Firms. The details required in this include-</p>
  2008. <ul>
  2009. <li>Name of the firm and its address.</li>
  2010. <li>Names and addresses of each partner.</li>
  2011. <li>Nature of the business.</li>
  2012. <li>The date when the partnership firm was established.</li>
  2013. <li>And an Attachment of a covering letter to the Registrar of Firms along with the application form.</li>
  2014. </ul>
  2015. <p><strong> <img loading="lazy" decoding="async" class="alignnone size-medium wp-image-18325" src="https://teamindia.co.in/wp-content/uploads/2024/12/form-I-300x211.png" alt="Form I" width="300" height="211" srcset="https://teamindia.co.in/wp-content/uploads/2024/12/form-I-300x211.png 300w, https://teamindia.co.in/wp-content/uploads/2024/12/form-I-1024x722.png 1024w, https://teamindia.co.in/wp-content/uploads/2024/12/form-I-768x541.png 768w, https://teamindia.co.in/wp-content/uploads/2024/12/form-I.png 1044w" sizes="(max-width: 300px) 100vw, 300px" /></strong></p>
  2016. <p><strong> </strong></p>
  2017. <p><strong>Step 5: </strong>To get the smooth registration, they must collect all the required documents required like:</p>
  2018. <ul>
  2019. <li>Notarized Partnership Deed (Original + Copy)</li>
  2020. <li>Form 1 (duly filled and signed by all partners)</li>
  2021. <li>Affidavit: Declaration that Indian Partnership Act is being complied</li>
  2022. <li>Utilities: Rent agreement, utility bill, Ownership document.</li>
  2023. <li>PAN &amp; Aadar Cards of the partners.</li>
  2024. <li>Passport-size photographs of all partners (if required by local guidelines).</li>
  2025. </ul>
  2026. <p><strong>Step 6: </strong>Once the registrar completes the process of verification, the registrar issues a certificate. The partners need to make sure that they collect this Certificate of Registration. By virtue of this certificate, the firm proves existence in a legal way and is entitled to use it for opening bank accounts or to seek licenses.</p>
  2027. <p><strong>Partnership firm Registration Expenses:</strong></p>
  2028. <ul>
  2029. <li>Registration Fees – Rs. 2000*</li>
  2030. <li>Stamp Duty – Rs. 2000*(it varies based on capital)</li>
  2031. <li>Professional Fees – Rs. 1500 to Rs. 5000 (it is applicable in case you hire a professional or any consultant to assist).</li>
  2032. </ul>
  2033. <h2><strong>FAQ on the partner&#8217;s Firm:</strong></h2>
  2034. <p><strong> </strong></p>
  2035. <p><strong>How much salary can draw as partner of the business?</strong></p>
  2036. <p>The maximum amount of salary, bonus, commission or other remuneration to all the partners during the previous year should not exceed the limits given below:</p>
  2037. <ul>
  2038. <li>On first 3 lakhs of book profit or in case of loss – ₹ 1, 50,000 or 90% of book profits (whichever is higher).</li>
  2039. <li>On the balance book profit 60% of book profit.</li>
  2040. </ul>
  2041. <p><strong> </strong></p>
  2042. <p><strong>Update on Allowable Remuneration for Partnership and LLPs under Section 40(b): </strong></p>
  2043. <p><strong>Earlier Provisions:</strong> Previously, the calculation of allowable remuneration under Section 40(b) was as follows:</p>
  2044. <ul>
  2045. <li>If Book Profit was Negative or Zero: No remuneration was allowed.</li>
  2046. <li>If Book Profit was Positive: On the First ₹3 Lakhs of Book Profit: 90% or ₹1,50,000 (whichever was higher). On the Balance Book Profit: 60%.</li>
  2047. </ul>
  2048. <p><strong>Revised Provisions (Current):</strong> The new regulations for calculating allowable remuneration under Section 40(b) are:</p>
  2049. <ul>
  2050. <li>If Book Profit is Negative: Remuneration up to ₹3,00,000 is allowable.</li>
  2051. <li>If Book Profit is Positive: On the First ₹6 Lakhs of Book Profit: Higher of ₹3,00,000 or 90% of the book profit. On the Balance Book Profit: 60%.</li>
  2052. </ul>
  2053. <p>This change broadens the scope for allowable salary to partners, especially benefiting firms with negative or low book profits. For further clarification or assistance, feel free to reach out to Team IN filings <strong>Prakasha &amp; Co.,</strong> Bangalore.</p>
  2054. <p><strong> </strong></p>
  2055. <p><strong> </strong><strong>Difference between Registered and Unregistered Partnership Firm:</strong></p>
  2056. <table>
  2057. <tbody>
  2058. <tr>
  2059. <td width="200"><strong>BASIS</strong></td>
  2060. <td width="200"><strong>REGISTERED FIRM</strong></td>
  2061. <td width="200"><strong>UNREGISTERED FIRM</strong></td>
  2062. </tr>
  2063. <tr>
  2064. <td width="200"><strong>Legal Recognition</strong></td>
  2065. <td width="200">Once a firm is registered, it is legally recognised as a lawful entity.</td>
  2066. <td width="200">An unregistered firm runs informally without any legal recognition.</td>
  2067. </tr>
  2068. <tr>
  2069. <td width="200"><strong>Ability to Sue</strong></td>
  2070. <td width="200">The registered firms have the right to sue third party and be sued.</td>
  2071. <td width="200">The unregistered firm does not have any right to the third party.</td>
  2072. </tr>
  2073. <tr>
  2074. <td width="200"><strong>Conversion</strong></td>
  2075. <td width="200">It is easier to convert registered partnership into an LLP.</td>
  2076. <td width="200">To convert into an LLP these firms need to register first.</td>
  2077. </tr>
  2078. </tbody>
  2079. </table>
  2080. <p><strong> </strong></p>
  2081. <p><strong>Challenges faced while registration:</strong></p>
  2082. <ol>
  2083. <li><strong>Selecting a name which is appropriate:</strong> The seeking the name does not infringe or resemble other entities which are already registered. There are legal requirements as well as cultural sensitivities which should be complied so that it does not undergo rejection.</li>
  2084. <li><strong>Proof of business premise:</strong> If the business is in initial stage, it would be challenging for them to immediately arrange for a place of business and be able to provide the required rent (as rental agreement is a vital agreement).</li>
  2085. <li><strong>Stamp Duty: </strong>Stamp duty can be costly, only if the partnership firm has a large amount of capital (as it depends on the firm’s capital). For small businesses, the cost of stamp duty can be burdening.</li>
  2086. <li><strong>Taxes and Licenses:</strong> It is possible that additional registrations might be acquired by the firms such as GST and professional tax or even specific business license requirements like FSSAI for restaurants and BBMP license for trade in Bangalore etc.</li>
  2087. <li><strong>Feeling of legal compliance:</strong> Compliance with local and even national regulations can be baffling. In India, compliance with laws such as the Partnership Act of 1932 may involve legal knowledge, consulting an experienced professional like us would be advised in this situation.</li>
  2088. </ol>
  2089. <h3><strong>Do’s in Registration of a Partnership Firm  </strong></h3>
  2090. <ul>
  2091. <li><strong>Detailed Partnership Deed: </strong>This would have clauses regarding sharing profits, duties of the partners, admission and exit procedures, disputes and their resolution, and dissolution.</li>
  2092. <li><strong>Choose a Unique Name:</strong> Ensure that there is no duplication of the name by reference to the relevant trademark and businesses registries. To know more about the trade-mark refer to the following link. <a href="https://prakashaandco.com/effective-trademak-search-registration/">effective Trademark</a></li>
  2093. <li><strong>Comply with Documentation Requirements:</strong> Provide the said documents, which are relevant proofs like; ID and address proofs of partners, Registered office address proof &amp; Stamped and notarized partnership deed.</li>
  2094. <li><strong>Pay Appropriate Stamp Duty:</strong> Have the deed stamped in accordance with the requirements of the local authorities.</li>
  2095. <li><strong>Consult an experienced Professional</strong>: Ensure that assistance is provided by a lawyer or chartered accountant to avert legal and procedural problems.</li>
  2096. </ul>
  2097. <h3><strong>Don&#8217;ts in Registration of a Partnership Firm.</strong></h3>
  2098. <ul>
  2099. <li><strong>Avoid Ambiguity in the Deed</strong>: Uncertainties can create conflicts in the future.</li>
  2100. <li><strong>Don’t Use a Prohibited Name:</strong> Avoid using names that give the impression that the government stands behind the enterprise or are judicially obnoxious.</li>
  2101. <li><strong>Don’t Submit Incorrect Information: </strong>Providing false or contradictory information in the application can cause this application to be denied and, in some instances, bring about legal problems.</li>
  2102. <li><strong>Incomplete Documentation:</strong> Make sure to provide all the mentioned documents in the right format.</li>
  2103. <li><strong>Deed Drafting:</strong> The Partnership deed must be drafted under the guidance of an experienced professionals so that it is legally binding and does not miss any important details.</li>
  2104. </ul>
  2105. <p><strong>FAQs</strong></p>
  2106. <p><strong>Q1: Can I start a partnership without registration?</strong><br />
  2107. <strong>Answer:</strong> Yes, partnerships can be unregistered, but registering your partnership gives it legal recognition, it provides liability protection, and is essential for opening a bank account and complying with tax laws. We Prakasha And Co recommend registered Firm always good for the each partners of the business.</p>
  2108. <p><strong>Q2: Do I need a partnership deed for registration?</strong><br />
  2109. <strong>Answer:</strong> While not mandatory for unregistered partnerships, a partnership deed is critical for registered ones to clarify the rights and obligations of partners, share of profit, dispute resolution, etc.</p>
  2110. <p><strong>Q3: Can a foreigner be a partner in an Indian partnership?</strong><br />
  2111. <strong>Answer:</strong> Yes, foreign nationals can join an Indian partnership, but compliance with RBI regulations and other legal frameworks must be considered.</p>
  2112. <p><strong>Q4: What if one partner wants to leave the partnership?</strong><br />
  2113. <strong>Answer:</strong> In this scenario, within 6 months a new partner must join the firm (in case of only 2 parties involved in the partnership). The partnership deed typically contains clauses that outline the exit procedure, asset distribution, and settling of liabilities.</p>
  2114. <p><strong>Q5: What are the tax implications for partnerships?</strong><br />
  2115. <strong>Answer:</strong> Partnership firms are taxed after partnership firm pays the salary to partners and other business expenses at 30% (for individual partners, the tax is based on there individual income level), and GST registration is required if annual turnover exceeds the prescribed threshold (refer to the following link to know more about <a href="https://teamindia.co.in/gst-registered-bangalore/">GST Registration</a>).</p>
  2116. <p><strong>Q6: What are the other registrations that the firm might need to obtain?</strong></p>
  2117. <p><strong>Answer:</strong></p>
  2118. <ul>
  2119. <li>GST Registration (if the firm exceeds the threshold limit of 20 Lakh)</li>
  2120. <li><strong>FSSAI:</strong> A firm would need to register under Food Safety and Standards Authority of India (FSSAI) if they run any food-related business like a restaurant.</li>
  2121. <li><strong>BBMP:</strong> Every partnership firm doing business in Bangalore needs to apply for the Bruhat Begaluru Mahanagara Palike (BBMP) License.</li>
  2122. </ul>
  2123. <p>&nbsp;</p>
  2124. <p><strong>Q7: How to amend the partnerships if any changes after registered?</strong><br />
  2125. <strong>Answer:</strong> Once the partnership firm Certificate has been received, then you have to reconstitute the partnership deed by making amended partnership deed and submit the required documents to registrar for update.</p>
  2126. <p><strong>Q8: In a firm if any goal-mall happens, who is responsible for that?</strong><br />
  2127. <strong>Answer:</strong> all partners are responsible though anyone did any fraud or goal-mall in the firm, this has the exception under Limited Liability Partnership firm (LLP), under LLP only that partner who committed fraud or cheating or goal-mall he only held responsible but not others. for Registration of LLP, you can visit here <a href="https://prakashaandco.com/llp-registration-consultants-in-bangalore/">LLP registration Bangalore</a></p>
  2128. <p>&nbsp;</p>
  2129. <p>*<strong>Oral Partnership:</strong> An oral partnership refers to a legal agreement between 2 or more parties to conduct business without any written contract, purely based on mutual trust.</p>
  2130. <p>*<strong>Arbitration:</strong> If dispute is unresolved mutually then the matter could be referred to arbitration. This includes appointing an arbitrator, location of arbitrator and the binding nature of the decision. This ensures that they do not need to go through lengthy court proceedings.</p>
  2131. <p>&nbsp;</p>
  2132. <p>The above blog has been articulated with support from Sr. Team IN Filings &amp; <strong>Ms. N Janani </strong>&amp;<strong> Mr. Mayavan MA</strong></p>
  2133. <blockquote><p>Get your Partnership Firm Registration completed within <strong>7 days</strong> with <strong>Team IN Filings</strong>. Enjoy a hassle-free, legally binding process and complete peace of mind to kickstart your business.</p>
  2134. <p>Visit us at Sahakarnagar, Bangalore &#8211; 560092,</p>
  2135. <p>call <strong>07019827351</strong>, or</p>
  2136. <p>email <strong><a rel="noopener">team@teamindia.co.in</a></strong> today!</p></blockquote>
  2137. ]]></content:encoded>
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  2143. </item>
  2144. <item>
  2145. <title>Maximize Your Gains: New LTCG Indexation Rules for Property Sales</title>
  2146. <link>https://teamindia.co.in/maximize-your-gains-new-ltcg-indexation-rules/</link>
  2147. <comments>https://teamindia.co.in/maximize-your-gains-new-ltcg-indexation-rules/#respond</comments>
  2149. <dc:creator><![CDATA[Admin]]></dc:creator>
  2150. <pubDate>Fri, 16 Aug 2024 05:03:36 +0000</pubDate>
  2151. <category><![CDATA[Blogs]]></category>
  2152. <guid isPermaLink="false">https://teamindia.co.in/?p=18313</guid>
  2153.  
  2154. <description><![CDATA[Reintroduction of Cost Inflation Index on Long-Term Capital Gains for Property The Union Government&#8217;s Finance Budget for 2024 introduced several important changes in the tax rate on the sale and disposal of long-term gain (LTCG) properties. These changes aim to provide certain benefits to property owners and ensure that taxes are flexible systems. However, the [&#8230;]]]></description>
  2155. <content:encoded><![CDATA[ <div data-elementor-type="wp-post" data-elementor-id="18313" class="elementor elementor-18313">
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  2162. <img loading="lazy" decoding="async" width="1024" height="653" src="https://teamindia.co.in/wp-content/uploads/2024/08/ltcg-e1723784547582.png" class="attachment-large size-large wp-image-18314" alt="" srcset="https://teamindia.co.in/wp-content/uploads/2024/08/ltcg-e1723784547582.png 1024w, https://teamindia.co.in/wp-content/uploads/2024/08/ltcg-e1723784547582-300x191.png 300w, https://teamindia.co.in/wp-content/uploads/2024/08/ltcg-e1723784547582-768x490.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /> </div>
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  2173. <div class="elementor-widget-container">
  2174. <p><strong>Reintroduction of Cost Inflation Index on Long-Term Capital Gains for Property</strong></p><p>The Union Government&#8217;s Finance Budget for 2024 introduced several important changes in the tax rate on the sale and disposal of long-term gain (LTCG) properties. These changes aim to provide certain benefits to property owners and ensure that taxes are flexible systems. However, the fine print of these amendments highlights some important issues that every taxpayer should consider before making a property investment decision.</p><p><strong>Key Changes Introduced</strong></p><p>The Budget 2024 has reintroduced the option for taxpayers to choose between two different tax regimes when dealing with LTCG on properties purchased before July 23, 2023:</p><ol><li><strong>Option 1: LTCG Tax with Indexation</strong></li></ol><ol><li style="list-style-type: none;"><ul><li>Tax Rate: 20%</li><li>This option allows taxpayers to adjust the purchase price of their property to account for inflation, thereby potentially reducing the taxable gains. Indexation can significantly lower the tax liability, especially for properties held over a long period, where inflation might have substantially eroded the actual gain in real terms.</li></ul></li><li><strong>Option 2: LTCG Tax without Indexation</strong></li></ol><ol><li style="list-style-type: none;"><ul><li>Tax Rate: 12.5%</li><li>Under this option, taxpayers pay a lower tax rate of 12.5% but cannot adjust their gains for inflation. This regime may be more beneficial for those who have held their property for a shorter duration or where the inflationary impact is minimal.</li></ul></li></ol><p><strong>Limited Availability of Indexation</strong></p><p>Furthermore, the introduced benefits of the incremental cost index are not universal. As per the amendment, only resident individuals and Hindu Undivided Families (HUFs) are eligible for the indexation benefit. Notably, corporates and non-resident Indians (NRIs) are excluded from this scheme.</p><ul><li><strong>Implications for NRIs and Companies</strong>: Exclusion of NRIs and corporations from indexation benefits means that these people have to opt for a 12.5% ​​tax scheme that cannot be disclosed. This can result in higher tax bills for these entities, especially in the case of gifted assets.</li><li><strong>Possible modification</strong>: Industry experts including board advocates, secretaries and chartered accountants (CAs) indicate that this exemption may be oversight or intentional for specific reasons. But they are advocating for a final amendment to include immigration to ensure that all classes of taxpayers are treated fairly.</li></ul><p><strong>Loss Set-Off Not Permitted</strong></p><p>Another critical aspect of the reintroduced indexation is that <strong>losses incurred under this regime cannot be set off</strong> against other gains. The indexation benefit is applicable only for calculating gains, and if the indexed cost results in a loss, such loss <strong>cannot be carried forward</strong> or set off against other gains.</p><p><strong>Example for Clarity:</strong></p><p>Consider Mr. A, who bought a house in 2015 for ₹50 lakh and sold it in August 2024 for ₹70 lakh.</p><ul><li><strong>With Indexation (Option 1)</strong>:<ul><li>Indexed Cost: ₹71.45 lakh</li><li>Capital Loss: ₹1.45 lakh</li><li>Tax Payable: None (as the result is a loss)</li><li><strong>Note</strong>: The loss of ₹1.45 lakh cannot be carried forward or set off against other income.</li></ul></li><li><strong>Without Indexation (Option 2)</strong>:<ul><li>Sale Consideration: ₹70 lakh</li><li>Capital Gain: ₹20 lakh</li><li>Tax Payable: ₹2.5 lakh at 12.5%</li></ul></li></ul><p>In Mr. A&#8217;s case, although he incurs a loss with indexation, this loss cannot be used to offset other income, leading to a scenario where he might opt for the indexation benefit solely to avoid paying tax under the new regime.</p><h2><strong>Maximizing Tax Savings on LTCG Using the 2024 Reintroduced Indexation</strong></h2><p>To maximize tax savings under the reintroduced LTCG rules, investors need to carefully consider the specifics of their property transactions.</p><p><strong>NRIs</strong></p><ul><li><strong>Scenario</strong>: Since NRIs and companies cannot use the indexation benefit, they must pay tax at the 12.5% rate without indexation.</li><li><strong>Tax Strategy</strong>: For NRIs and companies, it’s crucial to strategically plan the timing of their property sale, ideally during periods of lower market volatility or when minimal appreciation has occurred. They should also explore other deductions or exemptions available under the Income Tax Act to offset their tax liability.</li></ul><p><strong>Alternate way for Reducing TDS on Property Sales</strong></p><p>One of the most effective ways to substantially reduce the income tax on sale of property is to obtain a low TDS rate certificate from the Income Tax Department. This certificate allows NRIs and other eligible taxpayers to claim a reduced rate of TDS on the sale of their property, and ensures that a fraction of the sale proceeds is withheld as getting a lower tax TDS rate reduces income subject to the immediate impact, and avoids reversals of potential cash flow delays.</p><p>Team IN Filings specializes in helping clients including NRIs to obtain these lower TDS rate certificates. Our expert guidance will enable you to navigate the application process smoothly and ensure that you take advantage of tax reductions at source, and make significant savings in your property transactions. Contact us to learn how this service can help you improve your tax position and increase your income from the sale of property.</p><p><strong>Final word</strong></p><p>The reintroduction of indexation in the Finance Budget 2024 provides flexibility to property owners by allowing them to choose the tax regime that best suits their financial situation. However, the limitations on the availability of indexation and the inability to set off losses highlight the importance of careful tax planning.</p><p><strong>Resident individuals and HUFs</strong> can benefit from indexation if their property has been held for a significant period, while <strong>NRIs and companies</strong> must navigate the new regime without this benefit. As the legislative process progresses, stakeholders are hopeful that further amendments will address the concerns raised by these exclusions, potentially making the regime more inclusive.</p><h5>For personalized advice and to know the best option for your unique situation, you can get in touch with Team IN Filings Bangalore’s leading CA, legal and tax advisory services. Our team of experts is here to help you navigate these changes and optimize your tax obligations.</h5> </div>
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