THESE 4 financial works must be complete before 31 December 2021

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New Delhi: As the calendar yr 2021 is coming to an finish on 31 December, there are main monetary works that have to be taken care of. While leaving a few of them unfinished might make you pay penalty, others might immediately influence in your funds. 

Here is a listing of 4 main monetary works you could full earlier than finish of December 2021.

PF Account Nominee

If you’ve gotten a Provident Fund account, then you could not ignore this deadline. The Employees’ Provident Fund Organisation (EPFO) has made it mandatory for all PF account holders to designate a nominee. The deadline for including the nominee is December 31, 2021. Failure so as to add a nominee to your PF account by the required date may end up in a wide range of issues, together with the lack of advantages comparable to insurance coverage cash and pension. Importantly, PF account holders can add the nominee on-line, as we describe right here.

ITR Filing Deadline

The authorities had in September prolonged the deadline until December 31 for submitting of revenue tax returns by people for the monetary yr 2021, amid the coronavirus pandemic and technical glitches within the IT portal. Earlier, the deadline was prolonged to September 30, 2021. Usually, the final date for submitting the ITR (Income Tax Returns) for the person taxpayers is July 31.

Submission of Life Certificate for pensioners

The Ministry of Personnel, Public Grievances & Pension has prolonged the deadline of submission of Life Certificate to December 31 from the earlier deadline of November 30, 2021. It have to be famous that that each Central Government Retired Employee is required to submit life certificates within the month of November for continuation of his/her pension. Hence, in view of the continuing Covid-19 pandemic in numerous states and preserving in view of the vulnerability of aged inhabitants to Corona Virus, the ministry has now been determined to increase the prevailing timeline for submission of Life Certificate for all age group of pensioners from 30/11/2021 onwards. Now, all Central Government pensioners might submit Life Certificate until thirty first December, 2021.

EPFO’s Aadhaar and UAN deadline

The Employees’ Provident Fund Organisation (EPFO) has prolonged deadline for Aadhaar linking of UAN until December 31, 2021 for Establishments in NORTH EAST and sure class of institutions. Issuing a round, the EPFO stated, “…after allowing sufficient time of almost four years for Aadhaar seeding, EPFO issued instructions dated 01.06.2021 cited above mandating that UANs is to be Aadhaar seeded for receipt of contributions through ECR. However, considering the challenges faced by the employers & employees in expeditious seeding of Aadhaar in UANs particularly in view of corrections required in Aadhaar data of employees in aftermath of second wave of Pandemic, the EPFO with prior approval of the Central Government extended the time for mandatory seeding of Aadhaar in UAN for filing ECR up to 01.09.2021 which was communicated vide reference cited 2 above.” 

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