E-nomination important for Employees Provident Fund Amid the Covid-19 pandemic, many cases have been observed where the dependents of the PF account holder had to encounter problems in the claim settlement process due to the non-filing of nomination in the respective accounts. It is important to note that, giving a nomination is utmost important for any saving scheme. Earlier … [Read more...] about E-nomination important for Employees Provident Fund
EPF
Rate of Interest for the EPF Members Account for the year 2019-20
Rate of Interest for the Employees’ Provident Fund Members Account for the year 2019-20 No. INV- INV-11/1/2020-INV/2025 To All Regional Provident Fund Commissioners, Officers-In-Charge, Regional offices. Date: 04 JAN 2021 Sub: Declaration of Rate of Interest for the Employees’ Provident Fund Members Account for the year 2019-20 – regarding Sir, The Ministry of Labour … [Read more...] about Rate of Interest for the EPF Members Account for the year 2019-20
Cabinet approves the proposal to extend the EPF contribution 24% for another three months
Cabinet approves the proposal to extend the EPF contribution 24% (12% employees share and 12% employers share) for another three months from June to August 2020 under PMGKY/AATMANIRBHAR BHARAT The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has given its approval for extending the contribution both 12% employees' share and 12% employers' share under … [Read more...] about Cabinet approves the proposal to extend the EPF contribution 24% for another three months
Govt plan to allow EPF-NPS portability may be junked
Govt plan to allow EPF-NPS portability may be junked Government plan to make NPS an alternative to EPF seen as risky and controversial That EPF and NPS are not alternatives to each other will be made public formally this week The National Pension System (NPS) will not be an alternative to the Employees’ Provident Fund (EPF), as the government is set to junk its … [Read more...] about Govt plan to allow EPF-NPS portability may be junked
EPF amount in public limited companies
EPF amount in public limited companies Employees’ Provident Fund Organization (EPFO) is investing in Exchange Traded Funds (ETFs) based on Nifty 50, Sensex, Central Public Sector Enterprises (CPSEs) and Bharat 22 Indices. EPFO does not invest in shares and equities of individual companies. The total amount invested by EPFO in ETFs as on September, 2019 is Rs. 86,966 … [Read more...] about EPF amount in public limited companies
Amendment in the Employees Provident Funds & Miscellaneous Provisions Act, 1952
Amendment in the Employees Provident Funds & Miscellaneous Provisions Act, 1952 No.S-35012/5/2017-SS-II Government of India Ministry of Labour and Employment Shram Shakti Bhawan, New Delhi Dated the 23rd August, 2019. Subject: Amendment in the Employees’ Provident Funds & Miscellaneous Provisions (EPF and MP) Act, 1952 – regarding. The Ministry of Labour and … [Read more...] about Amendment in the Employees Provident Funds & Miscellaneous Provisions Act, 1952
State Wise Details of EPF Pensioners
State Wise Details of EPF Pensioners The details of number of pensioners under Employees’ Pension Scheme, 1995 across the country, State/UT-wise during June, 2019 along with pension amount paid are given below: STATE/UT-WISE PENSIONERS AND PAYMENT (As on June, 2019) SI No. State Total pensioners in June, 2019 Total payment in June, 2019 (Rs.) 1 Andhra … [Read more...] about State Wise Details of EPF Pensioners
Transfer old EPF balance when changing jobs
Transfer old EPF balance when changing jobs The interest on the balance in an earlier EPF account becomes taxable if you don’t transfer the corpus to your EPF account with the new employer If you transfer the balance in your old EPF account to the new one, the interest on the earlier corpus will also become tax-free Are you an EPF member and have changed … [Read more...] about Transfer old EPF balance when changing jobs
Gains for some employees due to new SC verdict on EPF
Gains for some employees due to new SC verdict on EPF On February 28, 2019 the Supreme Court of India (SC) has issued a landmark ruling on the coverage of allowances under basic wages for calculations of Provident Fund contributions. This SC clubbed five high court decisions which were challenged earlier and gave its decision. In its ruling it has held that 'allowances' … [Read more...] about Gains for some employees due to new SC verdict on EPF
Frequent withdrawals will impair your EPF
Frequent withdrawals will impair your Employee Provident Fund Every individual wants sufficient savings to have a secure retirement phase. However, this requires awareness and a strategic financial plan. To help with retirement savings the government of India initiated the Employee Provident Fund (EPF) Act in 1952. This retirement scheme enables salaried individuals by saving … [Read more...] about Frequent withdrawals will impair your EPF