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Supreme Court Upholds Immunity of Provident Fund Amounts from Attachment Under Section 3(1) of Provident Funds Act, 1925. Attachment of Money Held by Reserve Bank for Transmission Abroad Declared Contrary to Law as Railway Administration was Trustee.

The dispute arose from execution proceedings against a retired railway employee, B, who had subscribed to the State Railway Provident Fund and opted f...

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Supreme Court Dismisses Appeal Against SEBI Order Declaring Art Funds as Collective Investment Schemes. Trusts managing pooled investments in art works held to be Collective Investment Schemes under SEBI Act, 1992, despite being structured as trusts rather than companies.

The Supreme Court dismissed Civil Appeal No. 19936 of 2017 challenging the order of the Securities Appellate Tribunal which had upheld SEBI's directio...

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Bombay High Court Allows Appeal in Provident Fund Nomination Dispute — Nominee Entitled to Receive Amount as Trustee for Heirs. Joint Nomination Creates Co-Trusteeship Under Employees' Provident Funds Act, 1952.

The appellant, Antonio Joao Fernandes, filed a suit claiming 50% of the provident fund amount of his deceased cousin Joazinho Dias, who had nominated ...

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Bombay High Court Allows Schools' Petition Against EPF Damages Levy Under Special Scheme. Voluntary Coverage Under Employees' Enrollment Campaign, 2017, Assured No Penalty or Interest, and Respondent Estopped from Imposing Such Levies.

The petitioners, Jijamata Public School and Jijamata Krushi Tantra Vidyalaya, are public schools run by a public trust established in 2003, engaged in...

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Supreme Court Upholds Revenue in Estate Duty Act Case Regarding Passing of Interest in Trust Shares. Beneficial Interest in Shares Held to Pass on Death of Minor Beneficiary Before Attaining Entitlement Age Under Sections 5 and 2(15) of Estate Duty Act, 1953.

The matter arose from a reference under the Estate Duty Act, 1953, concerning the estate of a beneficiary who died a minor. A deed of trust had settle...

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Bombay High Court Allows PF Commissioner's Claim for Interest Under Section 7Q Up to Winding Up Date in Company Liquidation. Priority Under Section 11(2) of PF Act Extends to All Dues Including Interest, But Damages Under Section 14B Must Be Levied Prior to Winding Up.

The Regional Provident Fund Commissioner, Thane, filed a Company Application challenging the adjudication order of the Official Liquidator of M/s. Zod...

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Karnataka High Court Dismisses Employer's Challenge to Provident Fund Damages for Delayed Remittance. Section 14B of Employees' Provident Funds and Miscellaneous Provisions Act, 1952 Imposes Strict Liability Without Requiring Mens Rea.

The petitioner, M/s HMT Limited, a Central Public Sector Enterprise, challenged the order dated 2.1.2004 passed by the Regional Provident Fund Commiss...