Epf

Access to EPF corpus made easier, but use the facility only in emergencies

EPF subscribers should continue to save separately for housing, and children's education and marriage

EPFO liberalises EPF partial withdrawals; members can withdraw up to 100%

The board of retirement fund body EPFO on Monday approved liberalised part withdrawals for its more than seven crore subscribers, allowing up to 100 per cent EPF withdrawal. The Central Board of Trustees (CBT), the apex decision-making body of EPFO, headed by Labour Minister Mansukh Mandaviya, took several path-breaking decisions during its meeting, a Labour Ministry statement said on Monday. To enhance the Ease of Living of EPF members, the CBT decided to simplify the partial withdrawal provisions of the EPF Scheme by merging 13 complex provisions into a single, streamlined rule categorised into three types, namely, Essential Needs (illness, education, marriage), Housing Needs and Special Circumstances. Now, members will be able to withdraw up to 100 per cent of the eligible balance in the Provident Fund, including employee and employer share. Withdrawal limits have been liberalisededucation withdrawals allowed up to 10 times and marriage up to 5 times (from the existing limit of

PF transfer after a job change: Here's the process and why it matters

Here's a quick guide to the online process, rules, and why it's smarter than starting over.

Allow gig workers the option to choose between EPF and NPS schemes

If millions of gig workers are forced into EPF without the option of NPS, complaints about the system's inefficiencies will intensify as its shortcomings inevitably emerge

EPF is in urgent need of an overhaul for flexibility and portability

Employees must be allowed to pause or reduce ontributions, and the promised portability between EPF and NPS should be enabled

Employees can now transfer their EPF account to a new employer on their own

Linking the Universal Account Number (UAN) to Aadhaar and maintaining consistent personal details ensures quicker PF transfers without requiring employer verification

EPS pensioners can now withdraw their pension from any bank in India

Under the new rules effective January 1, 2025, 7.8 million members of EPS will benefit from Centralised Pension Payment System

EPF, EPS contribution limit may be hiked: Impact on salary explained

A higher wage ceiling will influence both the benefits and deductions within your salary structure

Why should you check if your EPF interest is credited on a regular basis

Recent tax rules state that interest on contributions exceeding Rs 2.5 lakh per year is taxable, so keeping an eye on credited interest helps you plan your tax liabilities and ensure accurate filings

Know how to make changes in provident fund accounts & document required

A joint declaration is a request submitted by employees, which is verified by the employer, to modify or update key details in the members' basic profile information

Tax on EPF withdrawals: Know what rules say about deduction, exemption

To ensure accurate TDS deduction it is important to submit your PAN when applying for provident fund withdrawal

Fresh formal hiring at seven-month high in April, shows EPFO data

Earlier, in Sept 2023, 950,527 fresh formal employees had joined EPF. The EPFO data is considered crucial as only the formal workforce enjoys social security benefits and is protected by labour laws

Provident fund nomination: How it helps your family in getting pension

Members can now update their nominations online through the EPF members' portal

What all changes after Karnataka HC ruling in EPF case

The court found that the provisions that allowed international workers to contribute to the funds were "discriminatory" and violated Article 14 of the Indian Constitution

Online provident fund withdrawal: Steps, eligibility, documents needed

Complete withdrawal is allowed when an individual retires or remains unemployed for more than two months

NPS added 19% fewer fresh corporate subscribers in first half of FY24

Experts blame the fall on higher exemption limit for Rs 7-5 lakh IT bracket

Choosing NPS fund manager? Seek consistency across the asset classes

Switch fund manager only if long-term performance lags the category average

EPFO issues fresh guidelines for granting exemption to establishments

The new procedure contains direction for the establishments, regional offices, zonal offices and head office

Seven states, UTs record decline in number of active EPF subscribers

However, at the national level, the total number of employees contributing regularly to the EPF grew by nearly eight per cent in the same time period

Scammers steal 1.83 cr from 11 EPF accounts using Aadhaar card details

The CBI has arrested a man for allegedly altering Aadhaar card details to withdraw Provident Funds of unsuspecting persons through online claims, officials said on Monday. Delhi-based mastermind Priyanshu Kumar allegedly orchestrated the fraud with the help of his gang, where he allegedly targeted individuals whose Aadhaar cards were not linked to their PF accounts, they said. The CBI has alleged that 11 Employees' Provident Fund (EPF) members were targeted through 39 fake claims and Rs 1.83 crore was siphoned off. The agency registered a case on February 8, 2022, against seven establishments and unidentified individuals on a complaint from the Employees' Provident Fund Organization (EPFO) related to alleged fraudulent activities involving identity theft aimed at illegally withdrawing funds from the PF accounts of genuine beneficiaries. The gang allegedly registered establishments in various cities like Nagpur, Aurangabad, Patna, Ranchi, in which PF coverage was taken online withou