Press Information Bureau

Government of India

Ministry of Corporate Affairs

27-May-2011 18:19 IST

Modification in the instruction regarding payment of MCA fees in electronic mode

The Ministry of Corporate Affairs has instructed that from Monday next, i.e. May 29th, 2011 the payment of less than Rs. 50,000/- through electronic mode will be permissible in the “Investor Education and Protection Fund” through “Pay Misc. Fee functionality”. This facility will also be admissible for user having category as “Official Liquidator (OL)” office, and the user having category as MCA employee.

For payments of above Rs. 50,000, stakeholders will have the option to either make the payment in electronic mode, or paper challan. However, from 1st October, 2011 such payments would be made in electronic mode only.

It may be noted that in the interest of stakeholders and to improve service delivery time the MCA decided to accept payments of value up to Rs. 50,000/- only for MCA 21 Services from 27th March, 2011 in electronic mode.

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ST/-

Electronic payment authorization for investor education fund contributions expanded; larger payments transition to mandatory electronic mode later. Authorization permits limited-value contributions to the Investor Education and Protection Fund to be paid electronically via the 'Pay Misc. Fee' functionality, including by Official Liquidator offices and ministry employees. For payments above the limited threshold, stakeholders may use electronic mode or paper challan during a transitional period, after which higher-value payments must be made electronically. The change aligns with prior acceptance of limited-value electronic payments for MCA21 services to improve service delivery.