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TCS Company New Order! If the employee does not come to the office, salary and leave will be deducted

Pravesh Maurya — Fri, 02 Jun 2023 11:02:33 +0000

TCS has issued a warning to its employees to follow the company’s work from office policy. This decree has been issued for those employees who have worked for less than 12 days in a month.

India’s largest IT company Tata Consultancy Services (TCS) has issued a strict order regarding the return to its office policy. The company has started sending memos to those employees who are not completing at least 12 days work from office in a month.

The memos warned the employees that disciplinary action would be initiated if they did not follow the roster. This memo states that you are hereby warned and directed to start reporting to work from your office location with immediate effect.

During the Corona period, companies had given the facility of work from home. Companies have reopened their offices when the cases of Corona decrease. But many employees are not coming to office. Instead of working from home. There is a tussle between the management and the employees in many companies regarding this.

What is the company’s

Policy When asked about the company’s policy, the company said that many people have joined the company in the last two years, and it is important for the employees to know the place better so that the results are good. TCS believes that working from office helps in fulfilling the purpose and the company expects people to work from office for a few days. So, it is making sure that the employees follow the rules. In October, the company had told its employees that the manager would roster them (call to office) three days a week, which they have to follow.

If the employee does not come, the salary will be deducted and leave

TCS told the employees that work from home will not be promoted except for medical emergency. TCS was one of the first IT services companies to call its employees back to office. It is also the only company so far to strictly implement it. The company also informed that the salary or leave of the employees who do not follow the roster will be deducted.

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Income Tax: Big News! Do this work quickly, otherwise the next salary will be deducted

Pravesh Maurya — Sat, 07 Jan 2023 19:32:21 +0000

Under Section 80C of Income Tax, tax exemption can be taken on investment up to Rs 1,50,000. Those working in the office have to declare where they will invest. In January they are asked for its proof. If they do not submit proof of tax saving, then income tax is deducted from the salary in their account.

The budget day is slowly coming closer. Along with this, activities related to Income Tax have also started. Investment proof is being sought from those working in offices. It will be decided on the basis of investment proof whether your salary will come in full or less in the next month. If you have not submitted the proof of tax saving, then the salary will be sent to your account after deducting income tax. For investment proof, you have to submit proof of where you have invested. First the employee has to inform his office where he is investing. After this, its proof is sought in January.

Under Section 80C of Income Tax, tax exemption can be taken on investment up to Rs 1,50,000. That is, under this section 80C, you can reduce your total taxable income by Rs 1,50,000 by making different investments. Proof of investment: Life Insurance Policy premium receipt, ULIP premium proof, Equity Linked Savings Scheme (ELSS) investment proof, PPF, Sukanya Samriddhi Yojana and NSC investment receipts made on home loan principal Can collect rebate on repair and health insurance premium.

Tax exemption limit

In the year 2014, the then Finance Minister Arun Jaitley increased the tax exemption limit from Rs 2 lakh to Rs 2.5 lakh and also increased the tax exemption limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh. Tax exemption is given on different types of investments under Section 80C of the Income Tax Act. If you have forgotten to claim tax exemption on different types of investments in any year, then later you can claim tax exemption by filing income tax return.

To save tax, under Section 80C, you can invest in Mutual Fund Tax Funds (ELSS), Bank’s Tax Savings Fixed Deposit Scheme, NPS, PPF, Life Insurance Policy, National Savings Certificate and Post Office Senior Citizen Savings Scheme. Tax exemption is also available on the tuition fees of two children. For this, you have to give the fee certificate issued by the school. This is the only expense under section 80C that does not come under the purview of investment.

How to get benefit

If you want to avail tax exemption under section 80C, you have to invest before the end of the financial year. In the year in which you invest in this period, you will be able to get the benefit of tax exemption for the same year. It is up to you to decide how much to invest in which instrument. The total limit with you is Rs 1.5 lakh. Now whether you want to invest the entire money in a single instrument or invest some money in various mediums.

The amount you claim under this section is reduced from your gross total income. It is easy to calculate this income tax. Suppose your gross total income is Rs 10 lakh and you have claimed a deduction of Rs 1.5 lakh under section 80C. So your taxable income will be Rs 8.5 lakh.

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PF account : Check Before terms and conditions for withdrawing money from pf account, otherwise so much tax will be deducted

Pravesh Maurya — Sun, 24 Jul 2022 07:35:35 +0000

Money should be withdrawn from PF account only in emergency. There are also terms and conditions for this. If you withdraw money without following the terms and conditions, then you may have to pay tax on it. That’s why we are giving you all the information.

Employees have the option to withdraw money from their Provident Fund (PF) when needed. Many times people withdraw money from PF account. But there are some terms and conditions for this also. If money is withdrawn from the PF account prematurely and the rules are not followed, then tax may have to be paid. Therefore, it is important to know the rules related to PF. Know about the rules related to PF account.

When
to withdraw money from PF If it is necessary for you to withdraw money from PF account, then it should be done only after 5 years. If you withdraw more than Rs 50,000 before 5 years, 10% TDS has to be paid. That’s why it is important that you keep the money in PF for 5 years.

Why does it take TDS
to withdraw money from PF account before 5 years, the employer’s contribution comes under the income from salary category. At the same time, the contribution of the employee comes in income from other sources. The interest earned on these two is taxed. If someone’s income is less than Rs 2.5 lakh and he withdraws money from PF account, he should submit Form 15GH. TDS is not deducted on doing so.

Keep these things in mind
that tax is levied on withdrawing money from PF account before 5 years. 10% TDS is deducted on withdrawal of more than Rs 50,000. To avoid TDS, money should be withdrawn from PF account after 5 years. Interest is earned on the deposited amount.

When withdrawal of money is not taxed
, in some situations, tax is not levied on withdrawing money from PF account. If the employee has lost his job and he is withdrawing money, then there will be no tax. Withdrawal from PF account will not attract tax even in the event of company closure. After the death of the employee, there is no tax on withdrawing money from PF. At the same time, there is no tax on transfer of PF along with joining in a new company.

According to the rules of EPF, a member can withdraw
75 percent of the total amount deposited during the job after one month of job loss. At the same time, if the person remains unemployed for more than two months, then he can withdraw the entire amount from the PF account.

When to pay tax on
PF, there are four components of contribution in PF – the contribution of the employee, the amount deposited by the employer and the interest received on both. Of these four, three have to be taxed. This tax is levied on the contribution of the employee and the interest earned on them.

Tax Basis
The calculation of tax on investment in PF also depends on whether the employee has availed deduction under section 80C of the Income Tax Act at the time of filing ITR or not. According to the Income Tax Act, if the employee deposits the amount in PF, then his contribution is exempted from income tax.

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