Aadhaar-PF link at LPG prices: 7 rules enter into force from September 1 today
Aadhaar-PF Seeding to Rising LPG Prices: 7 Rules That Will Change From Today
New Delhi: From September 1 there will be a lot of new rules, affecting people from all walks of life. These changes include the mandatory Aadhaar-PAN link and an expected rise in the price of LPG cooking gas.
Mandatory Aadhaar-PF link
From September 1, employers will only be able to credit their contribution to the provident fund (PF) if the employee’s Aadhaar number is linked to his universal account number (UAN). The Organization de la Caisse de Prévoyance des Employees (EPFO) amended article 142 of the Social Security Code, 2020, which made the Aadhaar-PF link compulsory to benefit from various services, receive payments and apply for benefits. , among others.
It should be noted that if the Aadhaar-PF linkage is not carried out, neither the employer’s contribution nor that of the employee can be credited to the PF accounts.
Mandatory Aadhaar-PAN link for SBI clients
The State Bank of India (SBI) issued a notification that all of its customers must associate their Permanent Account Number (PAN) with their Aadhaar by September 30. Anyone who does not do so will have their identification as an SBI account holder revoked. , thus preventing them from carrying out certain transactions. PAN is required to file 50,000 or more in a single day. Those who wish to conduct even higher value transactions must link their Aadhaar and PAN on the Income Tax Department website by the stipulated date.
Restrictions on GSTR-1 repository for defaulters
The Goods and Service Tax Network (GSTN) recently stated that Rule 59 (6) of the central GST rules will be implemented from September 1, thus preventing taxpayers who have not filed GSTR-3B returns to file their GSTR-1 declarations. .
Companies must also deposit their GSTR-3B for a certain month in a phased manner between the 20th and 24th of the following month, while the one-month GSTR-1 must be deposited by the 11th of the following month.
soaring LPG prices
In August, the price of cooking gas was increased by 25 per bottle. Previously, the prices for LPG cylinders were increased by Rs 25.50 in July. As cooking gas prices have soared for two consecutive months, the trend is expected to continue in September as well. Since January of this year, LPG prices have increased by Rs 165 per bottle.
New check clearance standard
The Reserve Bank of India (RBI) has implemented a new positive payment system for check clearing in 2020 to verify an issuer’s details to stop any fraudulent acts. However, the system entered into force on January 1 of this year.
The catch is that while several Indian banks have already adopted the new system, Axis Bank will implement it from September 1. The private sector lender has already started the process of informing its account holders by SMS.
In this new check clearing system, customers issuing high value checks should notify their respective banks before doing so. This is intended to prevent bank fraud regarding the issuance and clearing of checks.
Changes in auto insurance
Buying a new car will become more expensive from September 1, 2021. After the Madras High Court decision to require damage coverage for cars from September, you may need to now pay Rs 10 to Rs 12,000 more as the down payment for a four wheeled vehicle. After Madras HC’s decision, bumper-to-bumper insurance will be mandatory on new vehicles from September 1
Maruti Suzuki price change
The price will be increased on all Maruti Suzuki models from September 1. For the third time in a year, Maruti Suzuki India (MSIL) today announced a price hike from September 1, 2021 without revealing details amid rising input costs. Earlier in January and April, India’s largest automaker also announced price increases for all variants earlier this year. “Over the past year, the cost of the company’s vehicles continues to be negatively affected due to the increased costs of various inputs. Therefore, it has become imperative to pass on some impact of the additional cost to customers via a price increase, ”Maruti Suzuki said in its statement.