Thursday May 28, 2015

Legislative Update for PeopleSoft HCM Global Payroll India

The ministry of finance by notification no. 39/2015/F.No.142/02/2015-TPl has increased the exemption allowed to disabled employees for conveyance allowance to Rs.3,200 from current exemption of Rs.1,600 with effect from 1st April 2015. Also NSDL has released a new version of file format for Form 24Q (version 5.2 for Q1 to Q3 & 5.3 for Q4). The Position Statement has been revised to include details about these legislative updates and the patch availability. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1962660.1.

Friday Apr 24, 2015

Legislative Update for PeopleSoft HCM Global Payroll India

The government of India established the PFRDA to develop and organize the pension sector in the country. NPS is now applicable to all central/state government employees, individuals & unorganized sector workers. A Corporate would have the flexibility to decide investment choice either at subscriber level or at the corporate level centrally for all its underlying subscribers. Both employer and employee would be eligible for deductions from total income. The Position Statement has been revised to include more details about NPS & the patch availability. Our position statement is available on My Oracle Support under Document ID 1962660.1. We advise customers to review the document to keep up-to-date.

Friday Apr 10, 2015

Legislative Update for PeopleSoft HCM Global Payroll India

As a part of Maharashtra state government budget for 2015-16 there are amendments made in the schedule to Maharashtra State Tax on Professions, Trades, Callings and Employments Act. Professional tax is now exempted for women employees drawing salary below Rs.10,000.  The Position Statement has been revised to include details about these legislative updates and the patch availability. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1962660.1.

Thursday Mar 19, 2015

Legislative Update for PeopleSoft HCM Global Payroll India

The government of India vide notification no 323 (E) & 324 (E) has reduced the EPF administrative charges to 0.85% subject to minimum amount of Rs.500 per month per establishment  effective 1st January 2015. Additionally we also have amendments made in the schedule to Karnataka State Tax on Professions, Trades, Callings and Employments Act, 1979. As per the amendment, Professional tax is exempted for employees drawing salary below Rs.15,000 and age limit for senior citizen to claim exemption from Professional tax has been reduced to 60 years from 65 years. The Position Statement has been revised to include details about these legislative updates and the patch availability. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1962660.1.

Monday Jan 26, 2015

Legislative Update for PeopleSoft HCM Global Payroll India

Form 16 E Token Digital Signature

An update has been provided in the Position Statement about the solution for Form-16 Digital Signature using E Token. We advise customers to review the position statement for the patch availability. The document is available on My Oracle Support under Document ID 1962660.1

Monday Dec 15, 2014

Legislative Update for PeopleSoft HCM Global Payroll India

Digital Signature in Form 16

The government of India has issued a circular making it mandatory to generate private keys corresponding to the Class 2 and Class 3 DSC’s only from FIPS 140-1/2 Level 2 validated hardware cryptographic token. The introduction of the crypto token would impact the current process of generating the Form-16 (Part B) and display in self service portal with digital signature. In order to follow the guidelines issued by CCA in using the digital signature certificate and continue the display of Form-16 via self service, changes has been proposed to the current set-up. We have our revised position statement on My Oracle Support, Document ID 1904351.1.

Thursday Sep 04, 2014

Legislative Update for PeopleSoft HCM Global Payroll India

Amendments to Employee Provident Fund Contributions

The Central government of India has announced changes to the Employees Provident Fund & Miscellaneous Act, 1952 & Employee Pension Scheme, 1995 by notification in the official Gazette. Amendments have been made to the statutory wage ceiling for PF & Pension contribution by the employee & employer effective 1st September 2014.

EPFO (Employee Provident Fund Organization) has also introduced UAN (Universal Account Number) to reduce/ or eliminate the dependency on the employer and improve the quality of services to the members. UAN will be allotted to all active contributing members. UAN will act as an umbrella for multiple member id’s allotted to the same individual.  Our revised position statement includes these legislative updates and the respective delivery timelines. We advise customers to review the position statement to keep up-to-date. Our Position Statement can be found on My Oracle Support, Document ID 1904351.1.

Friday Jul 11, 2014

Legislative Update for PeopleSoft HCM Global Payroll India

Budget 2014 - 15 Changes

The Indian government have announced the budget for Financial Year 2014-15.  There are amendments to basic tax exemption limit and deductions from total income effective 1st of April 2014. Our revised position statement includes these legislative updates and the respective delivery timelines. We advise customers to review the position statement to keep up-to-date. Our Position Statement can be found on My Oracle Support, Document ID 1904351.1.

Friday Jul 04, 2014

Legislative Update for PeopleSoft HCM Global Payroll India

Changes to Tax on Employment

Maharashtra and West Bengal Governments have announced amendments to Tax on Professions, Trades, Callings and Employments Act, as part of their 2014 state budget. Our Position Statement has been revised to include these legislative updates and the delivery timelines for the respective changes. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1904351.1.

Thursday Oct 03, 2013

Legislative Update for PeopleSoft Global Payroll India

Revised data structure for e-TDS and e-TCS returns effective Q2,FY13-14.

NSDL has announced the data structure of quarterly e-TDS / TCS statements version 4.6 for Quarters Q1-Q3 and version 4.8 for Q4. The changes are applicable for Financial Year 2013 - 14 and is effective Q2, which is due for submission 15th Oct 2013. Our Position Statement has been revised to include these legislative updates. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1532190.1.

Monday Jul 08, 2013

Legislative Update for PeopleSoft Global Payroll India

Revised data structure for e-TDS and e-TCS returns effective July-2013

NSDL has announced the data structure of quarterly e-TDS / TCS statements version 4.4 for Quarters Q1-Q3 and version 4.6 for Q4. The changes are applicable for Financial Year 2013 - 14 onwards. Our Position Statement has been revised to include these legislative updates. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1532190.1.

Tuesday May 14, 2013

Legislative Updates for PeopleSoft Global Payroll India

Changes to Form 16

The Income Tax Department has issued a circular Viz. F.No 275/34/2011-IT (B) dated 17/04/2013 listing the amendments to the issuance of Form 16 and the generation process from TRACES. Our Position Statement has been revised to include these legislative updates and the delivery timelines for the respective changes. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1532190.1.

Tuesday Apr 23, 2013

Legislative Updates for PeopleSoft GLobal Payroll India

As part of the 2013 Budget, the Madhya Pradesh and Gujarat states have announced amendments to the Tax on Professions, Trades, Callings and Employments Act. There are changes to Professional Tax slabs which are effective 1st of April 2013.  Our Position Statement has been revised to include these legislative updates and the delivery timelines for the respective changes. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1532190.1.

Monday Oct 29, 2012

Legislative Updates for Global Payroll India


Data Structure Changes to F24Q File

The Income Tax Department has revised the data structure in which TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) quarterly returns need to be filed.

This has an impact on the Q4 returns filed for the financial year 2012-13. The Change in FVU 3.6 (File Validation Utility) will accept submission of e-TDS returns in the revised data structure only.

Our Position Statement has been updated. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on  My Oracle Support,  Document ID 1401142.1

Thursday Jun 21, 2012

Global Payroll India - Labour Welfare Fund for State of Haryana

The Legislature of State of Haryana has issued a Haryana Govt. Gazette notification through which the Section – 9(A) of Punjab Labour Welfare Fund Act, 1965 has been amended with the retrospective date. According to the amendment the employer and employee contribution rates have been revised.

Position Statement has been revised to include this legislative update. We advise customers to review the position statement to keep up-to-date. Position Statement can be found on My Oracle Support , Document ID 1401142.1.

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This blog is dedicated to topics focused on legislative updates to PeopleSoft Applications including Human Capital Management and Financials.

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