Page 3 - Employee Provident Fund

EPFO adds 1.48 million net subscribers in August

Retirement fund body EPFO net added 14.81 lakh subscribers in August 2021, reflecting a growing trend in net payroll for the first five months of this fiscal. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Wednesday highlights that it added around 14.81 lakh net subscribers during the month of August 2021, a labour ministry statement said. The data reflects a growing trend in net payroll for the first five months of the current financial year, it added. For the month of August, the net subscriber addition increased by 12.61 per cent as compared to the previous month of July 2021. Of the total 14.81 lakh net subscribers, around 9.19 lakh members have come under the social security ambit of EPFO for the first time. Around 5.62 lakh net subscribers exited but rejoined EPFO by changing jobs within the establishments covered under the purview of the EPF & MP Act, 1952. The subscribers opted to continue their membership with EPFO by ...

Part 1: Brahmin to Dalit - RSS vision of 'Vedic' society takes root in KCR's Telangana

In the first of a two part series, Business Standard reports how non-Brahmin castes in Telangana are being incentivised to stick to their forefathers' professions

Your EPF account will now show taxable and non-taxable balance

Those earning high salaries should think twice before getting it restructured

Covid impact: More women have exited formal employment in India than men

Of the more than half a million women who exited the formal workforce and did not join back, two-thirds were under 35 years of age. By comparison, only a third of men under 35 exited formal employment

Interest on EPF taxable, partial withdrawal not allowed after retirement

Subscribers can withdraw the entire EPF corpus when they retire or when they have been unemployed for over two months

EPFO stops correction in member profiles online over fraudulent withdrawals

The organisation in its circular, issued ahead of 2020-21 interest announcement, has ordered its field offices to not entertain any such request for correction in name

If you want higher returns, and are prepared for volatility, opt for NPS

But be ready for lock-in till the age of 60, volatility, mandatory annuitisation

Sheen diminished for VPF, but not lost: Here's how should you invest?

Only PPF and Sukanya Samriddhi offer higher returns among govt-backed schemes

Average HNI earns Rs 50-lakh interest that's tax free: Govt defends PF move

In the Budget, it was announced that Rs 2.5 lakh a year is the deposit limit for EPF on which interest earned won't attract any tax.

EPF interest rate, 10-year govt bonds spread at 16-year high of 2.5%

Bond yield drop may make it tough for EPFO to keep interest rate at 8.5%

Covid-19 selloff in March eats into EPFO equity returns in FY20

Investments accrue return of -8.3 per cent for the fiscal, down from 14.7 per cent in the previous fiscal

Retrieving Provident Fund balances from old accounts require some effort

Ensure all accounts have been merged into one before you begin withdrawal procedures

Formalisation of economy gradually picked up in May, EPF data shows

The net subscriber base of the employee provident fund, broadly taken as indicator of formalisation of the economy, stood at 318,789, three times the number in April

1.2 mn EPFO members withdrew Rs 3,360 cr of savings during lockdown: FM

The EPFO, under the Union labour and employment ministry, has settled a total of 1.2 million claims under the Pradhan Mantri Garib Kalyan Yojana package

EPFO relief for 650,000 employers: no penalty for late EPF deposits

Under existing rules, once companies file their returns, known as ECR, they must also subsequently submit the EPF payments of employees at one go. Not doing so attracts a penalty

Good time to opt for voluntary provident fund to enhance returns

Liquidity is an issue, but it scores on other parameters

Enrolments with EPFO dips to 10.34 lakh in Feb from 10.71 lakh in Jan

EPFO has been releasing the payroll data or new subscribers data since April 2018, covering a period starting from September 2017

Covid-19: Cabinet may approve proposal on EPFO contribution, withdrawals

The proposal to allow subscribers to withdraw 75% of their EPF contribution or three months wages

Subscribers wait for EPF withdrawal as Covid-19 lockdown hits operations

The Union labour ministry on March 28 amended the EPF scheme to allow members to withdraw non-refundable advances

Workers facing financial stress can withdraw 75% from EPF corpus: Know how

FM Nirmala Sitharaman on Mar 26 announced amendment in the EPFO regulation to allow employees withdraw up to 75% of their corpus as non-refundable advance, or 3 months' basic salary, whichever us less