EPF

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 Employment proposes to […]

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 […]

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 […]

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. […]

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 a […]