Minimum Wages revision in several States of India

Below governments have issued revised minimum wages:

1. Odisha vide Notification dated 5-Apr-2023
2. Uttar Pradesh vide Notification dated 3-Apr-2023
3. Central Government vide Notification dated 3-Apr-2023
4. Andhra Pradesh vide Notification dated 1-Apr-2023
5. Madhya Pradesh vide Notification dated 1-Apr-2023
6. Chhattisgarh vide Notification dated 29-Mar-2023
7. Gujarat vide Notification dated 27-Mar-2023
8. Tamil Nadu vide Notification dated 27-Feb-2023
9. Karnataka vide Notification dated 10-Feb-2023

Amendment of Profession Tax eligibility in Maharashtra and Karnataka

Maharashtra Government vide gazette notification dated 30-Mar-2023, amended the schedule to the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 effective from 01-Apr-2023 by exempting the profession tax payable by women who draw the monthly salary or wages up to Rupees Twenty-Five Thousand (INR 25,000). Further parents are exempted from payment of profession tax, in case their children suffer any benchmark disability as defined under section 2® of the Rights of Persons with Disabilities Act, 2016.

Karnataka Government vide gazette notification dated 14-Mar-2023 effective from 1-Apr-2023 amended the Karnataka Tax on Profession, Trades, Callings and Employments Act, 1976 by exempting the profession tax payable employees who draw the monthly salary or wages up to Rupees Twenty-Five Thousand (INR 25,000). We have made an analysis in below table for your reference. Inter-alia, the other amendments include:

1. Reduction in penalty from 150% to 100%
2. Reduction of interest from 2% to 1.5% for delayed remittance
3. Increase in interest from 1.25% to 1.5% for failure to deduct PT.
4. Reduction of penalty from 50% to 10% for enrolled person
5. Reduction in from 10 years to 2 years the exemption from payment of profession tax for professionals like advocates, chartered accounts etc. and businesses paying income tax but not covered under any other entries.
6. Inclusion of all leased premises under profession tax liability

EPF Notifications

EPFO vide circular dated 16-Mar-2023 directed to ensure that all the CBSE affiliated schools get registered under the EPF Act. Reference is also given to the CBSE circular requiring all CBSE affiliated schools to ensure compliance of statutory requirements like EPF, ESI and Labour Laws.

News Article: Labour Codes Implementation unlikely before 2024 polls

Financial Express in its article dated 3-Apr-2023, noted that the Central government has decided to delay nationwide roll-out of labour law reforms till after the 2024 general elections. Labour being a subject on the concurrent list of Constitution, the nationwide implementation is delayed due to delay in notification of rules by State governments.

COMPLIANCES FOR THE MONTH OF APRIL 2023

Bizprout Updates : April 2023