In the recent past, the Indian social security regime, which includes the Provident Fund (‘PF’) scheme and pension scheme has undergone a significant change, thereby impacting both domestic employees and international workers (i.e. foreign passport holders working in India and Indian employees going overseas with which India has signed a Social Security Agreement). Focussed approach towards e-governance has been framed and is being implemented by the concerned authorities leading to administrative convenience for the employers. This can be evidenced by the introduction of a Universal Account Number to link the multiple IDs allotted to an individual, e-passbook to check the account balance, e-challan, enforcement through Aadhaar, etc.

Key service offerings

  • Assist the Company from a tax perspective in formulating policy relating to social security 
  • Advise on various tax compliances  under the social security regime and gap analysis
  • Advise on the withdrawal mechanism and related tax implications upon completion of assignment/retirement 
  • Advise and assist in obtaining registration with Social Security Authorities in India 
  • Advise and assist in obtaining a certificate of coverage from Social Security Authorities in India 
  • Assistance in setting-up of PF Trust/ transition of PF trust to RPFC and related compliances
  • Assistance in registration of a company under National Pension System and its implementation.