Whether a branch office (BO) or project office (PO) can send outward remittances, permissible under FEMA, through any AD Category I bank or it has to be through the designated AD Category I bank only?

Wherever the BO or PO is required to remit funds outside India, within the applicable guidelines under FEMA, they may do so not necessarily through the designated AD Category I bank but through any AD Category I bank of its choice subject to obtaining no objection certificate (NOC) from the designated AD Category I bank.…

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Provident Fund Rules for International Workers in India

Provident Fund For International Workers In India Foreign nationals were brought under the purview of the Employees Provident Funds and Miscellaneous Provisions Act, 1952 (“EPF Act”) in October 2008. The EPF Act is the law governing social security in India. Originally, the EPF Act was applicable only to Indian workers. The Government of India in 2008 broadened the…

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RBI Master Direction: Establishment of Branch Office (BO) / Liaison Office (LO) / Project Office (PO) in India by foreign entities

General criteria Applications from foreign companies (a body corporate incorporated outside India, including a firm or other association of individuals) for establishing BO/ LO/ PO in India shall be considered by the AD Category-I bank as per the guidelines given by Reserve Bank of India (RBI). If the principal business of the entity resident outside India…

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