Rayon Dsouza

In a significant move aimed at improving the ease of living and doing business, the Employees' Provident Fund Organisation (EPFO) has rolled out major updates to simplify two critical processes: Provident Fund (PF) transfers and Universal Account Number (UAN) generation. These changes are expected to benefit more than 1.25 crore members and address long-standing grievances. 1. Smoother PF Transfers with Revamped Form 13. Changing jobs often meant dealing with paperwork and delays in transferring PF balances. Until now, the process required approval from both the previous and current EPF offices, making it lengthy and sometimes frustrating for members. What’s New? EPFO has revamped the Form 13 functionality, eliminating the need for approval from the Destination (new) office. Now, once the Source (old) office approves the transfer claim, the funds are instantly credited to the member’s new account. This not only saves time but also makes the process seamless and automate...

The Government of Karnataka has amended the Karnataka Tax on Profession, Trades, Callings and Employments Act, 1976.  The revised provisions are effective from 1st April 2025 and apply to all individuals and entities covered under the Act. The amendment modifies Serial Number 1 in the Schedule of the 1976 Act. >  Revised Tax Rates:   - ₹200 per month for all months except February.   - ₹300 for the month of February. The annual professional tax liability is now ₹2,500, up from ₹2,400. These revised rates are to be followed from the financial year commencing April 2025.