Epf Deposits

EPFO members can withdraw EPF money directly via UPI from April 1

EPFO subscribers will be able to withdraw their employees' provident fund (EPF) directly to their bank accounts through UPI payment gateway by April this year, a top source has said. The labour ministry is working on a project where a certain proportion of the EPF will be frozen, and a large chunk will be available for withdrawal through their bank account using Unified Payment Interface (UPI), the source told PTI. He explained that the subscribers will be able to see the eligible EPF balance available for transferring into their seeded bank accounts. They will be allowed to use their linked UPI pin for completing the transaction to ensure a secure transfer of money into their bank accounts. Once the money is transferred into bank accounts, the members can use the money the way they want, like making payments electronically or withdrawing through bank ATMs using debit cards. The source stated that the Employees' Provident Fund Organisation (EPFO) is trying to resolve software glit

Delhi High Court upholds provident fund rules for international workers

A bench of Chief Justice DK Upadhyay and Justice Tushar Rao Gedela delivered the verdict in the case filed by SpiceJet and LG Electronics India

SBI cuts EBLR, home loan rates by 50 bps after RBI's policy rate cut

SBI reduces EBLR and home loan rates by 50 basis points and special deposit scheme rate by 25 basis points, effective from 15 June 2025, following RBI's repo cut

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

EPF: When can you withdraw, how is the money taxed, and how to avoid it

Withdrawals before five years are tax-free in cases of serious illness, employer discontinuation of operations, withdrawals not authorized by the employer, and advances under the EPF Scheme

EPFO extends deadline to apply for the higher pension to June 26

Earlier, the online facility was to remain available only till May 3, after EPFO had earlier extended the timeline in late March, after receiving multiple requests from employee organisations

EPFO sees over 1 million new subscribers for fourth straight month

Though fresh additions slip sequentially in July, women enrolment at a record high

Lacking discipline to stay invested? Retirement funds are a good option

Others should invest in pure equity and debt funds, or go for EPF and NPS

Huge spike in EPF payrolls throws up debate on formalisation of the economy

While 2020-21 may not be the right year to compare with due to Covid, net payroll data in each of April, May and June exceeded average monthly figure since the data began to be compiled for Sept 2017

Formalisation of economy picks up pace in June, spike in EPF subscribers

June had 1,283,448 EPF subscribers on a net basis, the highest in first three months of current fiscal and higher than average monthly figure of past three years

Rs 20-trn package: Govt reduces EPF contribution for companies for 3 months

At present, 24 per cent of a worker's basic pay is deducted - with 12 per cent each counted as employer's and employee's share - towards the EPF savings

Claiming advance EPF is easy, but withdraw it only if you are in dire need

There is no income-tax on the advance, but withdraw only in dire need

Labour ministry keen to retain 8.65% interest rate on EPF deposits for FY20

The EPFO had provided 8.65 per cent rate of interest to its subscribers for 2016-17 and 8.55 per cent in 2017-18

Government approves 8.65% interest on EPF for FY17

FinMin had decided to lower EPF interest rate to 8.7% from 8.8% approved by CBT for FY16