The finance ministry had ratified 8.55 per cent rate of interest on EPF for the last fiscal. But it could not be implemented because of model code of conduct for Karnataka elections.
The Employees Provident Fund Organisation (EPFO) on Friday said it will be able to eliminate multiple account numbers of an individual once the process of linking Aadhaar is complete.
The Employees' Provident Fund Organisation (EPFO) further said that PF money aimed at social security benefit and people should not treat it like a bank account.
Earlier on Thursday, the EPFO approved an accounting policy for valuation and accounting of equity investments which was prepared in consultancy with IIM Bangalore.
As per the board, the proposed system would help in transfer of funds on the same day to beneficiaries, availability of the facility of Aadhaar enabled transfer of funds and reduction in bank charges for transaction.
Presently, employees and employers contribute 12 pc of basic wages each towards EPF, EPS and Employee Deposit Linked Insurance Scheme (EDLI).
The Employees' Provident Fund Scheme 1952 is amended to do away with the requirement of submission of various certificates and proformas for seeking advance for treatment of illness and purchasing equipment required in case of physical disabilities
The EPFO’s apex decision making body the Central Board of Trustees (CBT) had in last December decided to provide 8.65 per cent rate of interest on EPF deposits, he noted.
In a move that could hurt the common man in new year, the government likely to lower interest rates further on small savings including Public Provident Fund (PPF).
Four crore subscribers of the Provident Fund will now get lesser return on their deposits as the retirement fund body EPFO today decided to lower the interest for the current fiscal to 8.65 per cent.
Over four crore subscribers of the Employees Provident Fund Organisation would be able to pledge their provident fund to buy houses and use their accounts to pay equated monthly installments (EMIs) from next fiscal. "We
Trade unions on Tuesday walked out of a meeting of EPFO trustees protesting against the governments decision to appropriate unclaimed PF money for funding senior citizens welfare schemes. Labour Minister Bandaru Dattatreya, who was
New Delhi: Following protest from the trade unions, the finance ministry has hiked interest rate on provident fund deposits to 8.8 per cent from the 8.7 per cent decided by it earlier. This is the
New Delhi: Retirement fund body EPFO is planning to introduce ‘One Employee One EPF Account’ system on May 1 to discourage premature PF withdrawals and encourage state governments to join its pension system. The decision
The Narendra Modi government has decided to defer the new rules restricting provident fund withdrawals till retirement. According to Ministry of Labour and Employment, the relaxed norms will enable people to withdraw their PF for housing, medical eme
Retirement fund body EPFO has deferred the implementation of new norms regarding the withdrawal of provident fund by members till April 30
The Opposition Congress on Friday reacted sharply to government’s move of slashing interest rates on all small savings schemes, including PPF, saying it is “fleecing” the poor and is a “criminal breach” of the trust of people.
New Delhi: Facing flak for proposing a tax on employee provident fund withdrawals, Finance Minister Arun Jaitley said he will spell out the final decision on the matter when he replies to the debate on
New Delhi/Chennai: The Employees' Provident Fund Organisation (EPFO) hiked the interest rate on provident fund from 8.75% to 8.8% for the current fiscal, while interest on short-term post office saving deposits cut by 0.25 percent.Underlined
The Employees Provident Fund (EPF) was established through an act of Parliament. Both employees & employers contribute to the fund. The fund can be withdrawn by the Employee in case of retirement, resignation or by
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