Government announces several packages to handle COVID 19 crisis
Today (May 13, 2020), Finance Minister Nirmala Sitharaman announced the extension of due date for all income tax returns to November 30. While addressing the press she made several announcements. The highlights of the announcements are as under. The due date for all income tax returns extended up to November 30 Statutory PF contribution is…
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No work-no pay rule does not apply during lockdown period: Government
The Home Ministry, Government of India invoked the National Disaster Management Act, 2005 (NDMA) and the Epidemic Diseases Act, 1897 (EDA) on March 24 and clamped a national lockdown for 21 days from March 25. In view of the above order of the Government, all commercial and private establishments, industrial establishments, all transport services, educational…
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Labour ministry notifies provident fund contribution towards EPF & EPS scheme
The labour ministry on Friday notified the special scheme wherein the government will deposit the employer’s and employee’s contribution in the Employee Provident Fund (EPF) and Employee’s Pension Scheme (EPS) for three months to tide over the impact of COVID-19 on small establishments. Under Gareeb Kalyan Yojana scheme, the central government will grant relief in…
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Cabinet promulgates ordinance to reduce the salaries and pensions of Members of Parliament (MPs)
Due to the outbreak of pandemic COVID 19 virus, the Union cabinet promulgated an ordinance to reduce the salaries, allowances, and pensions of Members of Parliament (MPs) by 30 percent for one year. According to news, Union Minister Prakash Javdekar communicated the cabinet decision in a press release. According to Mr.Javdekar’s announcement, the Cabinet also…
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It is now obligatory for Banks to offer doorstep banking services to Senior Citizens and Differently Abled Persons
Today (March 31, 2020) Reserve Bank of India advised the banks to make determined efforts while offering certain basic banking services to senior citizens of more than 70 years of age and differently-abled persons. RBI had advised in this regard to the banks to implement doorstep banking services on a pan India basis for Senior…
COVID 19: How does lockdown impact banking services in India?
In light of the spreading disease – COVID-19 – and government orders, banks across the country are working at reduced capacities, providing only essential services. Only essential basic services allowed: Effective from Monday, March 23, 2020, only basic essential services like cash deposit and withdrawal, cheque clearances, remittances,, and government transactions are undertaken by the…
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