EPF Member can withdraw 90% fund for purchase of house Government to Amend EPF Scheme, 1952 to Enable EPF Members to Withdraw upto 90 Percent Fund for Purchase of House The Government has taken a decision for modification in the Employees’ Provident Funds (EPF) Scheme, 1952 to add a new paragraph 68 BD under which … Read more
CBT recommends 8.65% interest on EPF to its subscribers for the year 2016-17 Press Information Bureau Government of India Ministry of Labour & Employment 19-December-2016 16:54 IST Shri Bandaru Dattatreya chaired the 215th meeting of the Central Board of Trustees (EPF) CBT recommends 8.65% interest on EPF to its subscribers for the year 2016-17 The … Read more
Central Government decides to withdraw the notification on withdrawal from EPF Government Decides to withdraw the 10th February 2016 Notification with Immediate Effect Press Information Bureau Government of India Ministry of Labour & Employment 21-April-2016 17:51 IST Government Decides to withdraw the 10th February 2016 Notification with Immediate Effect Government had issued a notification dated 10th February … Read more
Premature Provident Fund withdrawal – Income tax will be imposed Income Tax for Premature Provident Fund withdrawal of more than Rs.30,000 The Government has announced that income tax will be imposed if, at the time of premature withdrawal, the Provident Fund amount is in excess of Rs.30,000. Finance Minister brought a new provision in his … Read more
Centre Govt Allows 5% of PF Funds to be Invested in Share Market The Central Government has allowed investing up to 5% of the Provident Fund capital in the stock market. As a result, Rs.5000 crore is expected to be released for investment this financial year. A circular from the Ministry of Labour has confirmed … Read more
NPS is more beneficial than EPF Is NPS better than EPF? The NPS is more complicated than EPF, but it may ensure a sufficient retirement kitty If there’s one investment option that has received generous tax breaks in the Budget, it is the National Pension System (NPS). In a watershed move, the Finance Minister has … Read more
Employees Under the Employees Provident Fund(EPF) to be Provided two Options The Union Finance Minister Shri Arun Jaitley has announced that with respect to Employees Provident Fund (EPF), the employee needs to be provided two options. Firstly, the employee may opt for EPF or the New Pension Scheme (NPS). Secondly, for employees below a certain … Read more
Online Transfer of Provident Fund A revised transfer claim settlement process has been started through an Online Transfer Claim Portal to smoothen the process of transfer of PF accounts. The revised process has following features:- (i) The claim can be submitted by the member in the online mode in addition to physical mode. (ii) The … Read more