{"id":28891,"date":"2024-07-30T10:36:08","date_gmt":"2024-07-30T05:06:08","guid":{"rendered":"https:\/\/ascent-hr.com\/?p=28891"},"modified":"2024-07-30T10:44:27","modified_gmt":"2024-07-30T05:14:27","slug":"budget-2024-government-to-implement-the-below-benefits-related-to-the-provident-fund","status":"publish","type":"post","link":"https:\/\/ascent-hr.com\/en-ph\/notification\/budget-2024-government-to-implement-the-below-benefits-related-to-the-provident-fund\/","title":{"rendered":"Budget 2024: Government to implement the below benefits related to the Provident Fund"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"28891\" class=\"elementor elementor-28891\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3388d839 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3388d839\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-1e872a71\" data-id=\"1e872a71\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-497a66d8 elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"497a66d8\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"back-to-previous\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper icon_align_row  \">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"\/resources\/blogs\/\" title=\"go back to blogs\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-circle-left\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Back<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8d674a9 elementor-widget elementor-widget-html\" data-id=\"8d674a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<script type=\"text\/javascript\"> \n \njQuery(document).ready(function() {\n    jQuery('#back-to-previous').on('click', function() {\n      window.history.go(-1); \n      return false;\n    });\n});\n \n<\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-4d05d4a6\" data-id=\"4d05d4a6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a4ad142 elementor-widget elementor-widget-html\" data-id=\"5a4ad142\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t|\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-468bd9cc\" data-id=\"468bd9cc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-acd1899 elementor-align-left elementor-widget elementor-widget-breadcrumbs\" data-id=\"acd1899\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p id=\"breadcrumbs\"><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9d53dbb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9d53dbb\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9d545f6\" data-id=\"9d545f6\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d056047 elementor-widget elementor-widget-vc_custom_heading\" data-id=\"d056047\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"vc_custom_heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\" vc_custom_heading no_stripe consulting_heading_font  text_align_left\" ><h1 style=\"text-align: left;font-weight:700\" class=\"consulting-custom-title\">Budget 2024: Government to implement the below benefits related to the Provident Fund<\/h1><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d54bbc elementor-widget elementor-widget-stm_post_details\" data-id=\"9d54bbc\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"notification-author\" data-widget_type=\"stm_post_details.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"post_details_wr  consulting_elementor_post_details\">\n    \n<div class=\"stm_post_info\">\n\t<div class=\"stm_post_details clearfix\">\n\t\t<ul class=\"clearfix\">\n\t\t\t<li class=\"post_date\">\n\t\t\t\t<i class=\"fa fa fa-clock-o\"><\/i>\n\t\t\t\tJuly 30, 2024\t\t\t<\/li>\n\t\t\t<li class=\"post_by\">Posted by:\t\t\t\t<span>AscentHR<\/span>\n\t\t\t<\/li>\n\t\t\t<li class=\"post_cat\">Categories:\t\t\t\t<span>India (All States), Notification<\/span>\n\t\t\t<\/li>\n\t\t<\/ul>\n\t\t<div class=\"comments_num\">\n\t\t\t<a href=\"https:\/\/ascent-hr.com\/en-ph\/notification\/budget-2024-government-to-implement-the-below-benefits-related-to-the-provident-fund\/#respond\"><i class=\"fa fa-comment-o\"><\/i>No Comments <\/a>\n\t\t<\/div>\n\t<\/div>\n\t\t\t<div class=\"post_thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"250\" height=\"250\" src=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/08\/Notifications.webp\" class=\"attachment-consulting-image-1110x550-croped size-consulting-image-1110x550-croped wp-post-image\" alt=\"thumbnail for government notifications\" srcset=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/08\/Notifications.webp 250w, https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/08\/Notifications-150x150.webp 150w, https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/08\/Notifications-50x50.webp 50w, https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/08\/Notifications-100x100.webp 100w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/>\t\t<\/div>\n\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d233996 elementor-widget elementor-widget-text-editor\" data-id=\"d233996\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In the Union Budget 2024, the Ministry of Finance has announced the following benefits with respect to Provident Fund:<\/p>\n<ol start=\"1\" type=\"1\">\n<li><b><i><u>Scheme A: This is applicable for employees joining employment for the first time in the formal sector covered by the Employees Provident Fund Organization. <\/u><\/i><\/b><\/li>\n<\/ol>\n<ul type=\"disc\">\n<li>Eligible employees\u2019 salaries should be less than 1 lakh per month. Such employees will receive one month&#8217;s wages as a subsidy, subject to a maximum of INR 15000.<\/li>\n<li>Subsidy would be directly paid to the employees by the Government, through a direct benefit transfer in 3 installments.<\/li>\n<li>Such eligible employees must undergo a compulsory financial literacy course before claiming the second installment.<\/li>\n<li>There is a cap of minimum employment period of 12 months in this category. In case of termination of the employee within 12 months, the subsidy received will have to be refunded by the employer to the Government.<\/li>\n<\/ul>\n<ol start=\"2\" type=\"1\">\n<li><b><i><u>Scheme B: Substantial employment creation in the manufacturing sector :<\/u><\/i><\/b><\/li>\n<\/ol>\n<ul type=\"disc\">\n<li>Applicable for first-time employment employees being enrolled with Employees Provident Fund Organization.<\/li>\n<li>The Government will pay incentives on a specified scale directly from PF contributions to both employer and employee for the first four years of employment.<\/li>\n<li>The employer will have to refund the subsidy to the Government if the employment of first-time employees ends within 12 months of enrolment.<\/li>\n<\/ul>\n<ol start=\"3\" type=\"1\">\n<li><b><i><u>Scheme C: Benefits to employers<\/u><\/i><\/b><\/li>\n<\/ol>\n<ul type=\"disc\">\n<li>This scheme applies to all additional employment created by employers, where the employee salary is within 1 lakh per month.<\/li>\n<li>Employers will receive a reimbursement of INR 3000 per month for 2 years towards each employee&#8217;s PF contributions.<\/li>\n<li>Apart from the above, the other 2 schemes that would impact PF would be the fourth and fifth schemes related to the skilling program, the upgradation of Industrial Training Institutes, and Internships in top companies. The budget details the provisions.<\/li>\n<li>For specifics on PF applicability for interns, refer to our alert shared on 3<sup>rd<\/sup>August 2022, with respect to the applicability of PF for interns.<\/li>\n<\/ul>\n<p><b><u>Our Comments: <\/u><\/b><\/p>\n<p><i>Measures introduced by the Ministry of Finance are directed towards employment generation, with an aim to integrate more individuals into the formal economy. These measures include covering social security for such enrolled employees. <\/i><\/p>\n<p><i>It also provides financial benefits to employees and employers in this category. In addition, it builds a strong platform for the future workforce.<\/i><\/p>\n<p><i>Detailing with respect to the mode of availing these benefits and modalities is awaited from the respective regulators\u00a0<\/i><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13ccece elementor-widget elementor-widget-text-editor\" data-id=\"13ccece\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Please refer below for more details:<br \/><\/strong><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36c67db elementor-widget elementor-widget-html\" data-id=\"36c67db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\t\t<div class=\"wppdfemb-frame-container-1\" style=\"-webkit-overflow-scrolling:auto;\">\n\t\t\t<iframe class=\"pdfembed-iframe nonfullscreen wppdf-emb-iframe-1\"\n\t\t\t\tsrc=\"https:\/\/ascent-hr.com\/en-ph\/?pdfemb-data=eyJ1cmwiOiJodHRwczpcL1wvYXNjZW50LWhyLmNvbVwvd3AtY29udGVudFwvdXBsb2Fkc1wvMjAyNFwvMDdcL2J1ZGdldF8yMDI0X2VtcGxveW1lbnRfaW5jZW50aXZlX3NjaGVtZXNfMi5wZGYiLCJ0aXRsZSI6ImJ1ZGdldF8yMDI0X2VtcGxveW1lbnRfaW5jZW50aXZlX3NjaGVtZXNfMiIsImluZGV4IjoxLCJwZGZJRCI6Mjg4OTB9\"\n\t\t\t\ttitle=\"budget_2024_employment_incentive_schemes_2\"\t\t\t\tdata-pdf-id=\"28890\"\n\t\t\t\tdata-pdf-index=\"1\"\n\t\t\t\tstyle=\"border:none;width:100%;max-width:100%;height:100vh;\"\n\t\t\t\tscrolling=\"yes\">\n\t\t\t<\/iframe>\n\t\t<\/div>\n\n\t\t\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d56954 elementor-widget elementor-widget-stm_post_bottom\" data-id=\"9d56954\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"stm_post_bottom.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"post_bottom_wr  consulting_elementor_post_bottom_info\">\n    <div class=\"post_bottom media\">\n\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-top-column elementor-element elementor-element-9d56c19 elementor-hidden-tablet elementor-hidden-phone\" data-id=\"9d56c19\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9d5724f elementor-widget elementor-widget-stm_sidebar\" data-id=\"9d5724f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"stm_sidebar.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<div class=\"stm_sidebar consulting_elementor_sidebar\">\n\n            \t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18108\" class=\"elementor elementor-18108\" data-elementor-post-type=\"stm_vc_sidebar\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9508636 e-con-full e-flex e-con e-child\" data-id=\"9508636\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b7aaae elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2b7aaae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-87788e5 elementor-widget elementor-widget-heading\" data-id=\"87788e5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Regulatory Insights<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04cbea0 elementor-grid-1 elementor-posts--thumbnail-none elementor-grid-tablet-2 elementor-grid-mobile-1 elementor-widget elementor-widget-posts\" data-id=\"04cbea0\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;classic_columns&quot;:&quot;1&quot;,&quot;classic_row_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:0,&quot;sizes&quot;:[]},&quot;classic_columns_tablet&quot;:&quot;2&quot;,&quot;classic_columns_mobile&quot;:&quot;1&quot;,&quot;classic_row_gap_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;classic_row_gap_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"posts.classic\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-posts-container elementor-posts elementor-posts--skin-classic elementor-grid\" role=\"list\">\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-36039 post type-post status-publish format-standard has-post-thumbnail hentry category-regulatory-insights\" role=\"listitem\">\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/ascent-hr.com\/en-ph\/resources\/regulatory-insights\/indias-four-labour-codes\/\" >\n\t\t\t\tIndia&#8217;s Four Labour Codes\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6384653 elementor-widget elementor-widget-text-editor\" data-id=\"6384653\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"es-m-txt-c\"><em>As organisations prepare to transition to the Four Labour Codes, we&#8217;ve curated a set of reference resources to support the HR fraternity to navigate the changes.<\/em><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5a3942fd e-con-full e-flex e-con e-child\" data-id=\"5a3942fd\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-173cbe28 elementor-widget elementor-widget-image\" data-id=\"173cbe28\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"426\" height=\"341\" src=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/09\/HCM_img.webp\" class=\"attachment-large size-large wp-image-33109\" alt=\"HR executive evaluating candidates using HCM tool\" srcset=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/09\/HCM_img.webp 426w, https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/09\/HCM_img-300x240.webp 300w\" sizes=\"auto, (max-width: 426px) 100vw, 426px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4272a17 elementor-widget elementor-widget-heading\" data-id=\"4272a17\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Ensure your business is future-ready<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c645366 elementor-tablet-align-start elementor-mobile-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1c645366\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-angle-double-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Talent Acquisition, On-boarding &amp; Confirmation<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-angle-double-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span 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data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3409a8c elementor-widget elementor-widget-heading\" data-id=\"3409a8c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Resources<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4ab1178 hfe-nav-menu__breakpoint-none hfe-nav-menu__align-left hfe-submenu-icon-arrow hfe-link-redirect-child elementor-widget elementor-widget-navigation-menu\" data-id=\"4ab1178\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;padding_horizontal_menu_item&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;padding_vertical_menu_item&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:12,&quot;sizes&quot;:[]},&quot;menu_space_between&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:0,&quot;sizes&quot;:[]},&quot;padding_horizontal_menu_item_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;padding_horizontal_menu_item_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;padding_vertical_menu_item_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;padding_vertical_menu_item_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;menu_space_between_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;menu_space_between_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;dropdown_border_radius&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true},&quot;dropdown_border_radius_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true},&quot;dropdown_border_radius_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true},&quot;padding_horizontal_dropdown_item&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;padding_horizontal_dropdown_item_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;padding_horizontal_dropdown_item_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;padding_vertical_dropdown_item&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:15,&quot;sizes&quot;:[]},&quot;padding_vertical_dropdown_item_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;padding_vertical_dropdown_item_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;distance_from_menu&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;distance_from_menu_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;distance_from_menu_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_size&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_size_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_size_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_border_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_border_width_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_border_width_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_border_radius&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_border_radius_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;toggle_border_radius_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"navigation-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"hfe-nav-menu hfe-layout-vertical hfe-nav-menu-layout vertical\" data-layout=\"vertical\">\n\t\t\t\t<div role=\"button\" class=\"hfe-nav-menu__toggle elementor-clickable\" tabindex=\"0\" aria-label=\"Menu Toggle\">\n\t\t\t\t\t<span class=\"screen-reader-text\">Menu<\/span>\n\t\t\t\t\t<div class=\"hfe-nav-menu-icon\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<nav class=\"hfe-nav-menu__layout-vertical hfe-nav-menu__submenu-arrow\" data-toggle-icon=\"\" data-close-icon=\"\" data-full-width=\"\">\n\t\t\t\t\t<ul id=\"menu-1-4ab1178\" class=\"hfe-nav-menu\"><li id=\"menu-item-18127\" class=\"menu-item menu-item-type-post_type menu-item-object-page parent hfe-creative-menu\"><a href=\"https:\/\/ascent-hr.com\/en-ph\/resources\/case-studies\/\" class = \"hfe-menu-item\">Case Studies<\/a><\/li>\n<li id=\"menu-item-32874\" class=\"menu-item menu-item-type-post_type menu-item-object-page parent hfe-creative-menu\"><a href=\"https:\/\/ascent-hr.com\/en-ph\/resources\/reports\/\" class = \"hfe-menu-item\">Reports<\/a><\/li>\n<li id=\"menu-item-18128\" class=\"menu-item menu-item-type-post_type menu-item-object-page parent hfe-creative-menu\"><a href=\"https:\/\/ascent-hr.com\/resources\/in-the-press\/\" class = \"hfe-menu-item\">In The Press<\/a><\/li>\n<li id=\"menu-item-18126\" class=\"menu-item menu-item-type-post_type menu-item-object-page parent hfe-creative-menu\"><a href=\"https:\/\/ascent-hr.com\/en-ph\/resources\/blogs\/\" class = \"hfe-menu-item\">Blogs<\/a><\/li>\n<\/ul> \n\t\t\t\t<\/nav>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-acddc04 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"acddc04\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t    \n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>In the Union Budget 2024, the Ministry of Finance has announced the following benefits with respect to Provident Fund<\/p>\n","protected":false},"author":2,"featured_media":12183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[200,160],"tags":[],"categories_case_studies":[],"class_list":["post-28891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-all-states","category-notification"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Budget 2024: Government to implement the below benefits related to the Provident Fund - AscentHR<\/title>\n<meta name=\"description\" content=\"Budget 2024: Government to implement the below benefits related to the Provident Fund, dated 30th July 2024\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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