Home Acts & Rules FEMA Regulation FOREIGN EXCHANGE MANAGEMENT (REMITTANCE OF ASSETS) REGULATIONS, 2000 This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Regulation 5 - Permission to an Indian entity to remit funds in certain cases - FOREIGN EXCHANGE MANAGEMENT (REMITTANCE OF ASSETS) REGULATIONS, 2000Extract 5. Permission to an Indian entity to remit funds in certain cases :- An entity in India may remit the amount being its contribution towards the provident fund/superannuation/pension fund in respect of the expatriate staff in its employment who are resident in India but not permanently resident therein. Explanation: For the purpose of this Regulation, - (a) 'expatriate staff' means a person whose provident / superannuation/ pension fund is maintained outside India by his principal employer outside India; (b) 'not permanently resident' means a person resident in India for employment of a specified duration (irrespective of length thereof) or for a specific job or assignment, the duration of which does not exceed three years.
|