The matter of extending EPF and MP Act, 1952, benefits to contract workers is gaining momentum amidst the rise of contractual labor. Paragraph 30(3) of the EPF Scheme mandates principal employers (PE) to ensure EPF compliance for both directly employed and contractor-engaged workers. To streamline this, a new electronic tool is now available on EPFO’s portal. This tool allows non-EPFO-covered entities, including government departments, to monitor the EPF compliance of their contractors. By registering with their Income Tax TAN, PE can track contractors’ contributions and ensure adherence to regulations, thus fostering fair labor practices. This notification was published on 17/05/2024.
Winding up bankrupt companies: new process
This regulation mandates that, after securing approval from the Committee of Creditors (CoC) with at least 66% of the votes, the Resolution Professional (RP) must