Recognition of provident funds extended deadline for compliance, with withdrawal if conditions not met by new cutoff. The Bill substitutes the first proviso to sub rule (1) of rule 3 in Part A of the Fourth Schedule, extending the compliance cutoff for provident funds recognised on or before 31 March 2006 from 31 March 2013 to 31 March 2014; funds failing to meet the recognition conditions prescribed by rule 4 and any Board specified conditions will face withdrawal of recognition. The amendment is retrospective to 1 April 2013.
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Recognition of provident funds extended deadline for compliance, with withdrawal if conditions not met by new cutoff.
The Bill substitutes the first proviso to sub rule (1) of rule 3 in Part A of the Fourth Schedule, extending the compliance cutoff for provident funds recognised on or before 31 March 2006 from 31 March 2013 to 31 March 2014; funds failing to meet the recognition conditions prescribed by rule 4 and any Board specified conditions will face withdrawal of recognition. The amendment is retrospective to 1 April 2013.
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