New rules from November 1st: The month of November begins tomorrow, bringing with it a host of changes related to your finances, banking, card usage, and government document updates. Simply put, some things will become more expensive from November, some processes will become easier, and some tasks may become problematic if not completed on time. Therefore, understand these changes in advance and plan your actions accordingly.

More Nominees Now Available in Bank Accounts
Changes to banking laws will come into effect from November 1st. Bank account holders will now be able to add up to four nominees simultaneously and can also determine the share/percentage of each nominee. Additionally, the option of a successor nominee will be available, meaning that upon the death of the previous nominee, the next nominee will automatically become active.

RBI has instructed banks to clearly inform every customer about the nomination facility. Even if someone does not wish to add a nominee, opening a bank account is permitted; there will be no restrictions. Note that if a nominee dies, their share will be considered cancelled.

Major GST Changes
From November 1st, the four-slab GST system will be abolished, with two slabs plus a special rate. The 12% and 28% slabs will be removed, and an additional 40% tax slab will be applicable on luxury/sin goods.

Extra Charges on SBI Card Payments
From November 1st, SBI card users will be charged a 1% charge on education payments if made through third-party apps like MobiKwik or CRED. A 1% charge will also apply for wallet balances exceeding ₹1,000.

Aadhaar Update
UIDAI has waived the ₹125 charge for mandatory biometric update (MBU) for children. This waiver came into effect from October and will be available for one year. For adults, the charge for updating name/address/mobile number/date of birth will be ₹75, and for biometric changes (fingerprint-iris) it will be ₹125. You can now update your address, date of birth, name, and mobile number online, without the need to upload any documents.

Important Reminder for Pensioners
Central and state government pensioners must submit life certificates by the end of November, or their pensions may be withheld. Employees wishing to shift from the NPS to the UPS scheme must also do so by November.

PNB Locker Charges Changes
Punjab National Bank is reducing its locker charges. The new rates, depending on the size and category, will be posted on the website in November and will become effective 30 days after the notification.

ITR Audit Due Date Extended: CBDT extends last date, taxpayers get big relief

The post New system implemented from November! Many rules related to banks, GST and Aadhaar cards have changed. first appeared on Rightsofemployees.com.

Under this proposal of the US Department of Homeland Security (DHS), applicants for 85,000 H-1B visa seats will be selected on the basis of their qualifications and salary. In this new system, applicants with higher skills and higher salaries will be given priority. Since Indians are the biggest beneficiaries of H-1B visas, this change will directly and extensively affect Indian professionals.

H-1B Visa: Lottery vs Weighted System

Criteria Lottery system Weighted system
➤ Selection process Random, equal opportunity for all 4 levels of qualification, preference to more skilled
➤ Priority No special preference to anyone Priority to applicants with highest salaries
➤ Goal Fair process for all Applicants from less experienced and small companies excluded
➤ Concern Opportunity for low-paid ones too Opportunity for freshers and low-paid ones

Limited impact on Indians

Indian professionals have always been the biggest beneficiaries of the H-1B visa. In the fiscal year ending September 2023, 58% of the 68,825 initial employment visas issued were allotted to Indians. At the same time, 79% of the total 2.10 lakh visas, including extensions, were given to Indians. In comparison, China got 16,094 and 29,250 visas respectively.

Thus, this proposed change in the visa system will have a huge impact on Indian professionals. With the new system giving preference to applicants with higher salaries and more experience, opportunities in the US for Indian freshers and smaller companies may be limited. They may now face more competition to work in the US.

More skilled professionals will get preference

The proposed weighted system has a clear objective of bringing more skilled and higher paid professionals into the US workforce. It is based on the logic of benefiting the US economy. However, this change may create challenges for less experienced applicants and smaller companies that usually hire professionals at the entry level.

The post H-1B Visa: Major Change in H-1B Visa Rules: New system implemented first appeared on Rightsofemployees.com.

The government has announced about advance salary. This announcement has been made by the Rajasthan government. The Ashok Gehlot government has taken this important decision after increasing the dearness allowance and promotion of the employees.

The new system has been implemented from June 1. Rajasthan has become the first state to implement the new system, before that no state in the country had offered advance salary to government employees. State employees will be able to take half of their salary in advance under this arrangement.

Will be able to take Rs 20,000 in advance

The Rajasthan government has said that under this a maximum payment of Rs 20,000 will be made at one go. To give this benefit to the government employees, the Finance Department has tied up with a non-banking finance company and in the coming times, a deal will be made with some more banks and financial institutions.

If the employee chooses to withdraw his salary before 21st of any month, the salary will be deducted from the current month’s pay. In addition, no interest will be charged from the employees on the advance salary drawn by them, but charges will be levied on transactions relating to lenders.

How to get advance salary

To avail the benefits of Advance Salary Scheme, Rajasthan Government employees have to register themselves with IFMS 3.0 using their SSO ID. At the same time, consent will have to be submitted to the financial institutions. Rajasthan Government employees can also visit their financial service provider’s websites and submit their undertaking on the online portal. After this the employees have to return to the IFMS website and give consent through One Time Password (OTP).

Significantly, the new scheme of the Rajasthan government has come as a step by the Congress government to restore the old pension scheme (OPS) in the state. At the same time, it is also being seen as a special step in view of the elections.

The post Employees Salary New Update: New system implemented for the first time regarding salary, know details first appeared on Rightsofemployees.com.

After increasing dearness allowance and promotion, now another wonderful gift has been given to the employees by the government. The Rajasthan government has announced that now the employees of the state can also take their salary in advance. The new system has come into effect from June 1. The special thing is that Rajasthan has become the first state in the country to provide advance salary facility. Till now advance salary is not being given in any state of the country.

Employees and officers of the state government will be entitled to take half of their salary in advance. Maximum payment of twenty thousand rupees will be made at one time. This system is going to be implemented from today. For this, the Finance Department has entered into an agreement with a non-banking finance company.

In the coming days, there is a preparation to enter into an agreement with some other financial institutions, in which some banks will also be included. Significantly, elections are going to be held in Rajasthan only after some time. Because of this, the Congress government of the state is making some relief announcement every day.

Will not have to pay interest

The special thing is that the government employee will not have to pay any interest on taking his salary in advance. The financial institution will only recover the transaction charges. Small employees are expected to benefit more from the facility of getting half the salary in advance. Now they will not have to raise money on high interest to meet their needs.

Will not have to tell the reason, the state government has not set any conditions for taking salary in advance. The employee will not even have to explain why he wants the advance. The employee has to request for advance payment of salary on the IFMS portal. By doing this, the next month’s salary bill will be generated.

The advance amount will be deducted from the salary of the subsequent month. Advance can be requested anytime on the portal, day or night. Advance salary will also be started in those PSUs (public sector undertakings) who give consent.

The post Employees Advance Salary: Government employees will get advance salary, new system implemented first appeared on Rightsofemployees.com.