Seminar on Tamilnadu Composite Value, Guideline
Value for Property and Employees' Provident Fund

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On 20-06-2024The Builders' Association of India (BAI), Southern Centre, in association with The Southern Construction Research & Development Service Society, organized a half-a-day seminar on Tamilnadu composite value, guideline value for property, and Employees' Provident Fund at Padma Bhushan Dr. A. Ramakrishna Auditorium, BAI-SC premises, from 10.00 am to 1.30 pm.

The event began with a call to order by Mr. R. Ramesh, Chairman of the Seminar Committee. This was followed by a welcome address from Mr. N. G. Lokanathan, Chairman of BAI-Southern Centre. Seva Rathna Bhisma Mr. R. Radhakrishnan, Past National President and Past Trustee of BAI, delivered the inaugural speech, setting the tone for the seminar.

Key Presentations

Tamilnadu Composite Value and Guideline Value for Property

Mr. L. Saikumaar, an Advocate at the High Court, delivered a special address on the Tamilnadu composite value and guideline value for property. His presentation covered:

• Old and new stamp duty and registration fees: Comparison of previous and current rates.
• Old & new undertaking:Details of previous and current undertakings required for property transactions.
• Guideline value and registration charges for second-sale flats: Updated values and fees for registering resale properties.
• Composite value for new flat sales & documents required for registration:Necessary documentation and valuation for new property sales.

Employees' Provident Fund

Mr. BNV Ramana, VP-HRD, and Mr. S. Ravikumar, Chief Compliance Officer at M/s Brivas Private Limited, presented on the Employees' Provident Fund (EPF). Their comprehensive session included:

• Applicability and Employee Benefits:Criteria for EPF applicability and the benefits it offers employees.
• Overview of EPF: General overview of the EPF scheme.
• Voluntary Coverage: Options for voluntary coverage under EPF.
• Contribution:Details on contributions from employees and employers.
• EPF Ceiling Limit: The maximum limit for EPF contributions.
• Interest Rate: Current interest rates on EPF deposits.
• Due Date Penal Damages:Penalties for late contributions.
• Income Tax Disallowances: Tax implications and disallowances related to EPF.
• Wages and Employees Applicability: Definition of wages and criteria for employee eligibility.
• Benefits of EPF: The various benefits provided by the EPF scheme.

The seminar included an open session where participants raised numerous questions during the Q&A session, which were addressed by the speakers, providing clarity on various aspects of the topics discussed.

Mr. Mu. Moahan, Trustee and Past National President of BAI, delivered the concluding address. Following this, Mr. S. Ramaprabhu, President of The Southern Construction Research & Development Service Society, felicitated all the speakers and dignitaries on the dais with mementos and shawls.

The seminar concluded with a vote of thanks by Mr. P.K.P. Narayana Murthy, Secretary of The Southern Construction Research & Development Service Society. The event saw participation from 150 members, who benefited greatly from the informative sessions. The meeting concluded with a lunch.