Interactive session on the recent Supreme Court Decision on Provident Fund Contributions
Interactive Session on the recent Supreme Court decision on Provident Fund Contributions and other recent updates
The Bangalore Chamber of Industry and Commerce (BCIC) under the aegis of its Human Resources Expert Committee and jointly with EFSI, Karnataka is organizing a Half day Interactive session on the recent Supreme Court decision on Provident Fund Contributions at 10:30 hours on Friday March 22, 2019 at the Hotel Chancery Pavilion, Richmond Road, Bangalore.
Mr. Maneesh Agnihotri, Regional PF Commissioner – 1, Bangalore has kindly accepted our invitation to be the Chief Guest and deliver the Keynote Address at the above Session.Mr. Maneesh Agnihotri, Regional PF Commissioner – 1, Bangalore has kindly accepted our invitation to be the Chief Guest and deliver the Keynote Address at the above Session.
Why this session
The Supreme Court of India passed a judgment stating that the special allowances paid by an establishment to its employees would fall within the expression "basic wages" under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 ("Act") under Section 2(b)(ii).
Hence any amounts that are payable on account of variable performance or those that are linked to an incentive would not fall within the definition of basic wages and would be excluded for calculation of the contribution towards the provident fund. Only such allowances not payable by all concerned or those which are not earned by all employees would stand excluded from the deduction to the provident fund. Therefore, variable pay or payment linked to performance would not be part of the basic wages.
The judgment will have an impact on how much contribution an employer would make towards Provident Fund. It is important that employers need to re-examine what constitutes basic wages is in accordance with the stipulations made in this judgment. This Interaction basically intends to enlighten participants on the recent Apex Court judgment and its implications on the corporates.
- Mr. Maneesh Agnihotri, Regional PF Commissioner-I, Bangalore, Key note speaker
- Dr. V Nagaraj, Professor of Law, National Law School of India University
- Ms. Saraswathi Kasturirangan, Partner, Deloitte Haskins & Sells LLP
Who Should Attend
CEOs, MDs, COOs, CFOs, HR heads, statutory compliance and facility managers, company secretaries, legal heads, Management and labour consultants and Advocates, Construction companies and contractors, B – School and law students.
Keynote Speaker and panel members
Main Themes covered
· The ratio of the judgment
· The detailed analysis of the exact impact of the judgement.
· The methodologies that the employers need to adapt
· Clarifications of queries by the expert panel.
· Other updates
10.00 to 10.30 am;
Kindly confirm your participation to firstname.lastname@example.org
Members: Rs.2,000/- Inclusive of all Taxes Non-members: Rs.2,500/- Inclusive of all Taxes
Thanking you and looking forward to your support by way of participation in making this programme an eventful one.