A look at recent rulings that can affect you -
CAPITAL MARKETS
In order to simplify the trading and demat account opening process of individual investors, the Securities and Exchange Board of India (Sebi) has come out with a simplified account opening form. It will be available with intermediaries and depositories. One can also download it from websites of exchanges and depositories. Sebi has also eased the KYC rules for individual investors. Now, the address of correspondence may not be the one where the investor is residing.
COMMODITIES
According to the Forward Markets Commission (FMC), all members of commodity derivatives markets should be registered with any one or more Sebi-approved KYC Registering Agencies (KRA). The FMC has also asked members to upload the KYC details and documents of all existing trading clients by 1 December 2015
PENSION
The Employees' Provident Fund Organisation (EPFO) has reduced the administrative charges of the EPF Scheme to 0.85% of wages from 1.10%. However, the minimum charges payable have been fixed at Rs 75 per month for every non-functional establishment having no contributory member and Rs 500 per month for other establishments.
The minimum administrative fee of EDLI Scheme has been fixed at Rs 25 per month for every non-functional establishment having no contributing member and Rs 500 per establishment for other establishments. The revised charges are effective from 1 January 2015.
