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India’s new Labour Codes (expected implimentation April 1, 2026) streamline 29 laws into 4, bringing major changes for employers and employees. Basic salary must be at least 50% of CTC, increasing PF and gratuity while impacting take-home pay. Salaries must be paid by the 7th of every month with strict compliance. Women can work night shifts with consent, ensuring equal pay and safety. Social security is extended to gig and platform workers. Appointment letters are mandatory for all employees, including fixed-term staff, the layoff approval threshold is increased to 300 employees, and penalties for non-compliance can go up to ₹20 lakhs.
Key EPFO updates for 2026 focus on digital transformation under EPFO 3.0, enabling faster services including UPI and ATM-based withdrawals. Withdrawal rules are simplified into three categories while ensuring 25% of the balance is retained for retirement. A proposal to increase the pensionable salary ceiling from â‚ą15,000 to â‚ą25,000 is under consideration. The ECR system is revamped to a UAN-based format for wage months from September 2025 onwards. E-nomination is strongly recommended, and pensioners can submit Digital Life Certificates using facial authentication. Additionally, DSC is mandatory for employer activities, and grievance services are now integrated with the UMANG app.
Karnataka Professional Tax (PT) updates for 2026, as per the Amendment Act 2025, require employers to deduct â‚ą300 per employee in February 2026, while â‚ą200 per month applies for the remaining months for employees earning above â‚ą25,000. The maximum annual Professional Tax payable continues to be capped at â‚ą2,500.
As of April 1, 2026, the new Income Tax Act, 2025 replaces the 1961 law, introducing a simplified tax system with major benefits for taxpayers. Income up to â‚ą12 lakh is effectively tax-free under the new regime due to rebate under Section 87A, along with a higher standard deduction of â‚ą75,000 for salaried individuals. HRA exemptions are expanded with cities like Bangalore, Pune, and Ahmedabad included under higher limits. ITR filing deadlines are updated, with ITR-1 and ITR-2 due by July 31 and ITR-3 and ITR-4 extended to August 31. New compliance changes include Form 130 replacing Form 16, updated e-filing forms, stricter credit card transaction reporting, and alignment with new labour codes impacting salary structure and benefits.
"Dear RP - It is exciting to know that you started your own consultancy. Apart from your subject matter expertise in these domains, your ownership, dedication and going way beyond the expectation come very naturally to you, with them, there is no doubt that you will reach greater heights. Wish you best of luck!!!"
“Partnering with Fairoll payroll service provider has been a great decision. Their expertise in payroll processing and compliance has ensured smooth operations every month. The team is proactive, responsive, and always ready to assist, making them a trusted extension of our HR function”.
"We have been working with Fairoll from April-17 they are very flexible to work with and always provide a solution and works like a team. It is good to partner with someone who is easily approachable and easy to work with."
"FAIROLL PROFESSIONALS WERE VERY DILIGENT, PERSONABLE, AND EASY TO WORK WITH. THE TEAM IS EXTREMELY PROFESSIONAL AND KNOWLEDGEABLE ABOUT STATE PAYROLL, ACCOUNTING AND TAXATION PROVISIONS.I WAS VERY HAPPY WITH THE SERVICES PROVIDED BY FAIRROLL AND WOULD CERTAINLY USE THEIR SERVICE IN THE FUTURE."
"Fairoll Consultancy Services has helped managing our accounting services much easier! Thatthey are reliable, easy to work with and get the job done, we would definitely recommend them to other businesses."
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