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 […]
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7th CPC Special Compensatory Allowance : FINMIN
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EPF
Payment of Employer’s full contribution 12% towards EPF and EPS from Apr 2018
Payment of Employer’s full contribution 12% towards EPF and EPS both w.e.f 01.04.2018. for a period of three years to the new employees and existing beneficiaries for their remaining period of three years through EPFO-reg Anuradha Prasad, IDAS Additional Secretary MINISTRY OF LABOUR & EMPLOYMENT GOVERNMENT OF INDIA SHRAAM SHAKTI BHAWAN, RAFI MARG, NEW DELHI-110119 […]
EPF Vs GPF Vs PPF: Interest rates, features and comparison with NPS as pension product
EPF Vs GPF Vs PPF: Interest rates, features and comparison with NPS as pension product GPF and PPF are pure accumulation products, while NPS and EPF also have distribution phase apart from the accumulation phase. The retired life of a person may be as long as the earning life or even longer. So, it is very […]
Modification in withdrawal process in EPF : Rajya Sabha Q&A
Modification in withdrawal process in EPF : Rajya Sabha Q&A GOVERNMENT OF INDIA MINISTRY OF LABOUR AND EMPLOYMENT RAJYA SABHA QUESTION NO 116 ANSWERED ON 18.07.2018 Modification in withdrawal process in EPF 116 Smt. Sarojini Hembram Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:- (a)whether Government has made any modification in the […]
CITU condems PPP mode in the administration of EPF and ESI schemes
CITU condems PPP mode in the administration of EPF and ESI schemes The Centre of Indian Trade Unions (CITU) expresses serious concern at the plans of the government, reported in the media, to usher in public private partnership mode in the administration of EPF and ESI schemes. The issue of running EPF in PPP mode […]
EMPLOYEES’ DEPOSIT LINKED INSURANCE (AMENDMENT) SCHEME, 2018 : Gazette Notification
EMPLOYEES’ DEPOSIT LINKED INSURANCE (AMENDMENT) SCHEME, 2018 : Gazette Notification MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 15th February, 2018 G.S.R. 170(E).—In exercise of the powers conferred by section 6C read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government […]
EPF May Soon Allow Partial Withdrawals
EPF May Soon Allow Partial Withdrawals In a move that could help 5 crore subscribers, Employees’ Provident Fund Organisation (EPFO) may come up with new guidelines on partial withdrawal. The EPFO has been planning to give an option to withdraw funds to meet daily expenses of subscribers who are not in a job for continuous […]
EPF interest rate reduced to a five-year low of 8.55%
EPF interest rate reduced to a five-year low of 8.55% Employees Provident Fund Organisation (EPFO) has reduced the interest rate to 8.55% for 2017-18 as against 8.65% for 2016-17 and 8.8% in 2015-16 The Employees’ Provident Fund Organisation (EPFO), India’s retirement fund manager, has cut the interest rate it pays to more than 50 million […]
Can you increase your pension under EPF?
Can you increase your pension under EPF? Retirees who were contributing 12% of actual salary to EPFO may be eligible to increase pension by retrospectively reclassifying their monthly contributions A Supreme Court judgement that was passed last year allows employees under the Employees’ Provident Fund (EPF) to contribute a higher amount to the Employees’ Pension […]
Aadhaar linking and interoperability of GPF, PPF and EFF accounts.
Aadhaar linking and interoperability of GPF, PPF and EFF accounts. No. D-11011/36/2016- DBT (Cab.) Govt. of India Cabinet Secretariat DBT Mission Subject: Aadhaar linking and interoperability of General Provident Fund (GPF), Public Provident Fund (PPF) and Employees’ Provident Fund (EFF) accounts regarding. A meeting was held under the chairmanship of Joint Secretary, DBT Mission, Cabinet […]