On June 1, 2023, numerous laws will change in the nation. Many of these regulations will have a significant effect on the populace. Additionally, it can impact people’s bank accounts. These regulations cover everything from EPFO to electric automobiles. Please inform us of the modifications that will take effect on June 1, 2023.
Electric two-wheeler
As of June 1, the government will no longer be providing the full amount of the FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) subsidy. Costs for electric two-wheelers would consequently rise as of June 1, 2023. And would be applicable to electric two-wheelers registered in 2023 or later. According to the revisions, the demand incentive for electric two-wheelers will be Rs 10,000 per kWh. Electric two-wheeler incentives will range from 15% to 40% of the cars’ current ex-factory costs.
EPFO regulations
Beginning on June 1, there will be a modification to EPFO regulations. The PF account must now be connected to Aadhaar.
Hallmarking of gold
Beginning on June 1, new guidelines for gold hallmarking will also be in force. Gold hallmarking will now be essential for the buying and selling of gold. Without it, you can’t buy gold.
Check payment method
The way checks are paid will change from Bank of Baroda as of June 1. The bank must first be notified if the amount on the bill is greater than the new regulations require.
Gas cylinder, CNG, and PNG price ranges
Gas cylinder, CNG, and PNG pricing changes can also be observed at the start of a new month.
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