Don’t let your old PF account go idle when you move to a new job. Here’s how to keep your retirement savings on track.
It is also leant that the EPFO has categorised pending dues into two buckets - immediately realizable’ (IR) and ‘non-immediately realizable’. Of the total Rs 21,000 worth of dues pending, IR dues amount to Rs 2,980 crore while the non-IR dues are over Rs 18,500 crore.
The employers are mandated to file the ECR by the 15th of every month. The Employees’ Provident Fund Organisation (EPFO) has launched a revamped Electronic Challan-cum-Return (ECR) system, which is applicable starting from the wage month of September 2025, a labour ministry statement said.
Employee Provident Fund (EPF) or Provident Fund, It’s one of the most popular forms of long-term retirement savings, wherein the employee and the employer contribute an equal amount towards savings. But who are eligible for the Provident Fund in Private and Government Jobs, can you get loan from EPF, how PF calculate, PF contribution, whether you're just starting your career or planning your retirement, understanding PF rules is crucial. Watch the video for more information on PF.
The Provident Fund (PF) is a powerful financial tool designed to secure the future of salaried employees. It not only encourages disciplined savings but also offers significant tax benefits, emergency financial support, and long-term wealth accumulation. With contributions from both the employee and employer, PF builds a strong retirement corpus, ensuring financial independence and peace of mind in later years. Whether you're planning for retirement, facing unexpected expenses, or simply looking to grow your savings safely, understanding the full potential of PF is essential for every working professional."
Need funds in an emergency? You can withdraw from your Provident Fund (PF) under certain conditions. Here’s what you need to know before applying.
The co-founder and CTO of fintech startup, Fuze, said that he got his ex-employer to approve the name change and generated a request on June 26 but it has since not been cleared by the KR Puram Whitefield EPFO office.
In case you are changing your job or need to claim your Employees Provident Fund, it is best to ensure that all your information is updated on the EPFO portal. This will not only reduce any hassle when you make your claim, it will also ensure that any withdrawals are processed smoothly, and your EPF claims are not rejected when you need them most.
Employees can now update or correct personal details like name, date of birth, gender, and more in order to claim their Employees’ Provident Fund. These set of standard operating procedures will not only make things easier for employees when it is their turn to claim their Provident Fund, it will also make it more secure and prevent fraud and impersonation.
Big changes have been announced for PPF and Sukanya Samriddhi account holders. Learn about the new rules on multiple accounts, NRI restrictions and Sukanya Samriddhi guidelines. Don’t miss these crucial updates to protect your small savings
Discover how the Public Provident Fund (PPF) can serve as a pension tool with tax-free income, even after its initial 15-year tenure. Learn about withdrawal options, extension benefits, and strategies to build a substantial PPF balance for a secure retirement. Understand why PPF remains a preferred investment despite stagnant interest rates, and explore its potential compared to taxable pension options.
EPFO’s move to tighten security of inoperative or transaction-less accounts is welcome, but clarification on the biometrics process for international workers and the minimum period of no credit/debit for accounts to be classified as ‘transaction-less’ is necessary.
The year-on-year analysis reveals a growth of 4.62 percent in net member additions compared to December 2022.
EPFO sets 8.25% interest rate, a three-year high, on EPF deposits for 2023-24, providing potential growth for retirement savings.
The steepest decline was recorded in FY21, when only 19.45 lakh female members enrolled, in a reduction of over 5.75 lakh from the previous year due to the impact of the Covid-19 pandemic.
Byju’s told EPFO that it has deposited PF dues for the period between August 2022 and May 2023 worth Rs 123.1 crore and will remit the rest Rs 3.43 crore in the next two days
Raghunathan’s comments come a day after Moneycontrol reported that Byju’s has delayed payments for almost all employees since October last year.
Byju’s, which is India’s most-valued startup, has been making PF contributions with a lag of almost three to four months, according to data sourced from EPFO by Moneycontrol.
The extension comes a day before the current deadline for the submission of applications was set to expire.
Employees opting for a higher pension contribution will be required to make the additional contribution of 1.16 percent to be moved from the employee’s share of the Provident Fund to the Pension Scheme.
The provisional payroll data of the Employees' Provident Fund Organisation released on Thursday highlighted that EPFO has added 13.96 lakh net members in February 2023.
EPFO had declared 8.1 percent as the rate of interest for 2021-22, which is the lowest in four decades. The last time the interest rate slipped to 8 percent was in 1977-78
The interest rate is anticipated to remain close to 8 percent as the EPFO calculates its earnings
Budget announcements included amendments to provide relief to salaried taxpayers withdrawing their provident fund balance or receiving leave encashment from their employers.
Employees have started receiving interest for 2021-22 in their PF accounts. Check your balance online to know if your account is updated with the interest.