Business
EPFO Launches Revamped Return Filing System For Employers From September
 "EPFO Launches Revamped Return Filing System For Employers From September")
New Delhi: The Employees’ Provident Fund Organisation (EPFO) has introduced a revamped electronic challan-cum-return (ECR) facility from the wage month of September, aimed at making return filing easier and error-free for employers and establishments, as per the latest notification issued by the Central Provident Fund Commissioner.
The new facility separates the process of submitting returns from payment generation. It also includes system-based validations to prevent the filing of incorrect returns. The updated system will automatically calculate damages and interest under sections 14B and 7Q of the Employees’ Provident Funds Act.
It will also make it mandatory for employers to pay interest under section 7Q along with monthly contributions. Section 7Q requires employers to pay interest on pending dues until the date of payment, while section 14B allows EPFO to impose penalties for defaults in payment.
Despite the changes, the existing file format for returns (.txt) will remain the same. Employers will be able to file regular, supplementary, or revised returns through the system. An EPFO official said the move is part of efforts to make the organisation more user-friendly.
The changes are expected to reduce data-entry errors that have made return filing cumbersome in the past. The revamped system will also help prevent errors in pension contributions under the Employees’ Pension Scheme (EPS). For instance, employees earning more than Rs 15,000 a month are not eligible for EPS, but many employers mistakenly make contributions under this head. The new system will flag such errors before filing, ensuring correct submissions.
Similarly, EPS membership ends at 58 years of age unless an employee opts for deferred pension. Earlier, the system did not stop remittances into the pension fund for employees above 58, leading to grievances. Now, the revamped ECR will automatically restrict contributions after 58 years unless specifically marked for deferred pension by the employer.
The EPFO hopes these measures will simplify compliance, reduce mistakes, and provide greater clarity to both employers and employees.
Emma SimpsonBusiness correspondent
BBCA victim of the Post Office Horizon IT scandal who was temporarily paralysed after the stress of her ordeal has been offered 15% of her compensation claim.
Janet Skinner was wrongly convicted of false accounting in 2007 and sentenced to nine months in prison after the faulty software said £59,000 had gone missing from her branch account in Hull.
She has now received an offer of full financial redress – but it is a fraction of what she had claimed. “I cried and I cried… it’s trauma on top of trauma,” she told the BBC.
The government said it made every effort to make full and fair offers to all claimants.
But according to Ms Skinner’s lawyer, all the high-value complex claims are being fought “tooth and nail”.
“They’ve taken a particularly cruel approach to Janet’s case,” claims Simon Goldberg, from Simons Muirhead Burton.
The mother-of-two lost her home, her livelihood and served two months in prison.
A year after her release, she was back in the dock facing another jail sentence as the Post Office pursued her for failing to pay “proceeds of crime”.
Less than a fortnight after the matter was resolved, she suffered a neurological collapse, was paralysed from the neck down and used a wheelchair for a year.
“My immune system had broken down, basically my body attacked itself,” said Ms Skinner.
‘I’m in pain all the time’
It took her two years to learn how to walk again but she has been unable to work because of ongoing problems with her health and mobility issues.
“I’m in pain all the time. It’s changed my life completely,” she said.
She said she misses being able to spray her deodorant or hairspray because of the damage to her hands. Her son helps with visits to the bathroom and she often has to get down the stairs on her bottom.
Her conviction was quashed in 2021 but it has taken more than four and a half years to prepare her claim, including being asked to submit five medical reports.
A hearing took place earlier this year where, according to her legal team, the Post Office finally accepted these expert reports, which concluded her ill health had been triggered by the extreme stress that she had suffered.
The size of Ms Skinner’s claim has not been revealed, though it is very significant.
“The sticking points are almost every element of her claim,” said Mr Goldberg.
The biggest contested issues include her loss of earnings and future care costs.
The Department for Business and Trade recently took over responsibility for delivering redress for sub-postmasters whose convictions were overturned by the courts, including Ms Skinner’s case.
A spokesperson said it did not comment on individual cases, but that it took every effort to make full and fair offers. An independent dispute resolution process was available to all applicants who were not content with their offer, they said.
More than £1bn worth of compensation has already been paid out to more than 8,000 victims.
The bulk of these payouts has been in the form of uncontested fixed payouts, either £75,000 or £600,000 depending on the severity of the case.
Janet SkinnerComplex claims are proving far harder to settle. Victims and their legal teams allege government and Post Office-appointed lawyers are dragging things out to minimise payouts – something ministers consistently deny.
“It’s not saving the public purse a penny. It’s actually costing the public purse in the medium term,” claims Ms Skinner’s lawyer, arguing that hundreds of millions of pounds have already been racked up in legal fees by big City law firms handling the claims, as well as legal fees paid to victims’ solicitors.
Mr Goldberg has written to Darren Jones MP, who he says was a champion of the wronged sub-postmasters while in opposition. He is now effectively the prime minister’s right hand man.
“The only way to resolve this is political pressure from the very top,” said Mr Goldberg.
Ms Skinner has already rejected her offer and says, if need be, she is prepared to go to court if she does not receive sufficient redress for everything that she’s been through.
Harrods has said it will not engage with hackers who contacted the company after an IT systems breach involving 430,000 customer records.
The luxury Knightsbridge department store warned its e-commerce customers on Friday that information, such as names and contact details, were taken after one of its third-party provider systems was compromised.
The breach is unconnected to attempts to gain unauthorised access to Harrods systems earlier this year, the company said.
In a statement on Sunday, Harrods said: “We have received communications from the threat actor and will not be engaging with them.
“We proactively informed affected e-commerce customers on Friday that the impacted personal data is limited to basic personal identifiers including name and contact details, where this information has been provided. It does not include account passwords or payment details.
“Affected customer records may also have labels related to marketing and services delivered by Harrods. These labels may include tier level or affiliation to a Harrods co-branded card although this information is unlikely to be interpreted accurately by an unauthorised third party.
“We would like to reiterate that no payment details or order history information has been accessed and the impacted personal data remains limited to basic personal identifiers as advised previously.
“It is important to note that the information was taken from a third-party provider and is unconnected to attempts to gain unauthorised access to some Harrods systems earlier this year.”
In May, Harrods reacted to the attempted breach by restricting internet access across its sites in a precautionary measure.
In July, four people, including two men aged 19, a 17 year-old boy and a 20-year-old woman who were arrested for their suspected involvement in damaging cyber attacks against Marks & Spencer, the Co-op and Harrods, were bailed pending further inquiries.
They were arrested on suspicion of blackmail, money laundering, offences linked to the Computer Misuse Act, and participating in the activities of an organised crime group, according to the National Crime Agency.
New Delhi: Tata Motors Limited has announced that its demerger into separate commercial vehicle and passenger vehicle businesses will take effect on October 1. The move comes after receiving approvals from its board, regulators, and the National Company Law Tribunal. As part of the demerger, shareholders will receive one share in the new commercial vehicle company for each fully paid Tata Motors share held on the record date, the company said in a filing to the exchanges.
The record date is pending announcement and will be revealed after the completion of statutory filings. Upon confirmation of the record date, investors will receive one share in the CV and PV companies for each Tata Motors share they own. Shares will be automatically credited to investors’ demat accounts, with voting rights remaining proportionate across both entities. Both companies will set their own dividend policies moving forward.
As part of the demerger, Tata Motors will split into two separate listed entities. The commercial vehicle business arm housed in TML Commercial Vehicles Ltd. (TMLCV) is expected to be renamed to Tata Motors Limited once the demerger is complete.
Tata Motors will rename its existing listed company to Tata Motors Passenger Vehicles Ltd., retaining its passenger vehicle and electric vehicle businesses, as well as investments like Jaguar Land Rover.
Girish Wagh, who currently heads Tata Motors’ CV operations, will lead the new commercial vehicle company, while Shailesh Chandra, the current head of the passenger vehicle and electric vehicle divisions, will spearhead the PV-focused company.
Tata Motors announced that the demerger aims to unlock value and enhance corporate efficiency, highlighting the distinct market dynamics, opportunities, and capital requirements of its CV and PV businesses.
Tata Motors first announced plans for a demerger in 2024. The appointed date for accounting and valuation purposes is July 1, 2025, while October 1 marks the legal effective date.
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