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 […]
EPF
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. […]
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 a […]
EPF Rate of Interest 8.65%
EPF Rate of Interest 8.65% Central Board of Trustees, EPF recommends crediting of 8.65% rate of interest on Accumulations in the EPF Member’s Account for the year 2018-19 The 224th meeting of the Central Board of Trustees, EPF was held here today under the chairmanship of Union Minister of State for Labour and Employment (I/C) […]
NPS not on par with EPF, PPF despite changes
NPS not on par with EPF, PPF despite changes The cabinet made certain important amendment to National Pension System (NPS) on December 6, 2018. There is confusion galore in the minds of taxpayers about the implications and applicability of the decisions. Let us discuss. Increased central government’s contribution to NPS Presently the Central Government contributes […]