The HR Committee meeting was held in the Cognizant office at Bengaluru on August 27th. Ms. Payal Satish, Regional Director – Karnataka Chapter, AMCHAM, welcomed the participants which was followed by opening remarks by Ms. Smriti Ahuja, Chairperson – HR Committee, AMCHAM and Global Head Organization Effectiveness, Cognizant. There was a panel discussion on ‘Provident Fund’ with Mr. Akhil Chandna, Director, Tax, Grant Thornton India LLP and Ms. Saraswathi Kasturirangan, Partner, Deloitte Haskins & Sells LLP. This discussion was moderated by Ms. Kavita Mathur, Co-Chairperson – HR Committee, AMCHAM and Executive Director, Operation, Grant Thornton Advisory. Various subtopics under the Provident Fund umbrella were discussed like the application of the employees’ provident funds and miscellaneous provisions Act, 1952 (EPF Act), social security in India and international workers under the EPF Act.
The issues and challenges faced by companies and individuals were discussed with numerous examples. The impact of the recent Supreme Court ruling on PF contribution were deliberated, focusing on Section 6 of the EPF Act and Section 2(b) of the EPF Act. The recent amendments and key issues in Employee Pension Scheme, 1995, was conferred along with the Change in Pension Contribution – Circular 2014. Both speakers also touched upon PF withdrawal glitches and issues relating to OCI cardholders. The closing remarks were given by Ms. Smriti Ahuja, Chairperson – HR Committee, AMCHAM and Global Head Organization Effectiveness, Cognizant and Ms. Kavita Mathur, Co-Chairperson – HR Committee, AMCHAM and Executive Director, Operation, Grant Thornton Advisory.
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