EPF RELATED CHANGES
Noida Protest Traffic Latest Update: Workers block key routes, check affected roads, diversions, alternate ways
Noida Protest Traffic Update: Thousands of workers in Noida and Greater Noida protested, leading to traffic chaos, after a woman was injured in firing during clashes. Demanding wage parity with Haryana, weekly offs, and better pay, workers have intensified demonstrations despite administration appeals and announced relief measures. The unrest echoes past industrial disputes.
EPFO 3.0: Government reveals status of centralised pension system, auto claim settlement and EPF account transfer claims
The government has provided an update on EPFO 3.0 reforms. Key developments include faster claim settlements and an expanded subscriber base. The Centralised Pension Payment System is now fully adopted by all EPFO field offices. Auto claim settlement for claims up to Rs 5 lakh has significantly improved efficiency.
I am 36 with Rs 1 crore net worth. How much do I need to achieve financial freedom by 41?
ET Wealth Reader's Query: I am 36 years old and live with my wife and mother. Our current net worth is Rs 1 crore and the portfolio comprises of EPF, PPF and other investments. What should our net worth be by the age of 41 in order to achieve financial freedom?
Higher EPS Pension reinstated by EPFO: Who will benefit and who will not
EPFO has reinstated the option for employees to link their pension scheme contributions to their full basic salary. This move offers relief to a limited group who previously opted for higher contributions, restoring a provision discontinued in 2014. The decision aims to address long-standing confusion regarding pensionable salary caps.
EPFO’s higher pension plan: Who benefits from it?
EPFO has reinstated the option for certain subscribers to link their pension contributions to their full salary, benefiting those who had previously opted for higher contributions. The restoration follows confusion after the 2014 cap on pensionable salary. Eligible employees can now once again contribute based on their actual earnings, subject to their employer’s agreement.
10 tax-free incomes in India: EPF, PPF, gratuity, tax-free bonds & more
Unlock tax savings with these 10 income sources exempt from income tax in India. From agricultural earnings and PPF/EPF returns to life insurance maturity and scholarships, understand how to legally reduce your tax burden.
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Lost your job but can't withdraw your 25% EPF balance, wait 3 years for EPS 95 final pension withdrawal, how fair are these new EPFO rules?
The Central Board of Trustees has revised Employees' Provident Fund Organisation rules. New regulations have changed EPF withdrawal limits and minimum balance requirements. Premature final settlement periods have been extended significantly. These changes aim to streamline processes and enhance retirement corpus accumulation. However, some critics argue the new rules restrict access to personal funds.
EPF: Do you need to upload documents on EPFO portal to update your date of joining and leaving a job?
The Employees' Provident Fund Organisation has streamlined the process for EPF members to update their employment history, including joining and exit dates. Members with Aadhaar-validated UANs can now directly update profile details without document uploads.
EPF interest rate: Will you lose higher interest on EPF if you don't transfer your EPF account from old to new employer?
Indian salaried individuals should transfer their EPF accounts upon changing jobs to continue earning interest. Neglecting this transfer can lead to loss of potential gains, especially with the current EPF interest rate at 8.25%.
PF withdrawal process just got easier: Check all changes by EPFO
EPFO has eliminated the need to upload a cancelled cheque image or employer-verified bank account details for online PF withdrawals. This move, effective after a successful pilot, will speed up claim settlements for members and ease the process for employers. With immediate effect, over 14.95 lakh members awaiting approvals will benefit from the simplified process.
New EPFO rules for death benefit: 3 changes announced under the EPF's EDLI scheme; check details
The EPFO's Central Board of Trustees announces changes to the Employees' Deposit Linked Scheme to enhance benefits for families of EPF members. Key changes include a minimum benefit for new members, death benefits after non-contributory periods, and consideration of service continuity despite short employment gaps.
Need to change your name in EPF? No documents required for Aadhaar-linked UAN
EPFO has simplified updating member profiles for those with Aadhaar-validated UANs, eliminating the need for documents in many cases.
Relief for EPF members: No documents required in new simplified process by EPFO to update these profile related details
EPF Members can update details such as name, date of birth, gender, nationality, father or mother's name, marital status, spouse's name, joining and departing dates, and date of birth, without having to upload any supporting documents.
EPFO issues new guidelines to correct personal details in EPF accounts
Correcting personal details in EPF accounts: Employees' Provident Fund Organisation (EPFO) has issued fresh guidelines on how EPF account holders can correct personal details such as name, date of birth, father's name, Aadhaar etc. in their EPF accounts. The new guidelines are issued after suspending old circulars. The new guidelines have made minor changes in the correction of personal details.
EPF joint declaration: How many times can you make changes to member name, date of birth, marital status in EPF account
Making changes to EPF account: 11 parameters can be changed by an employee during his or her employment to their EPF account. Here is a look at how many times one can make changes to each of these parameters.
Have multiple EPF account UANs? Here’s how to merge more than two UANs
The UAN is constant throughout your career; even if you change jobs over the years, your UAN will remain the same. With the use of the Universal Account Number, or UAN, one can merge their multiple EPF accounts.
EPFO issues new process for EPF accounts updation to correct name, Aadhaar, date of birth, 8 other details
The Employees' Provident Fund Organisation (EPFO) has issued a new circular on August 23, 2023, to standardise the process of correcting details in the EPF account. As per the new process, an EPF member can correct 11 details in her profile. The new circular has put the restrictions on number of times these 11 details can be corrected or updated.
How to transfer EPF account from EPFO to employer’s EPF trust and vice versa
While changing jobs, it may happen that your new employer runs a private EPF trust whereas old employer used to deposit the EPF money with EPFO. In such a scenario, can you transfer the EPF account?
EPF e-passbook facility working again on EPFO portal
The passbook page was not accessible due to “technical maintenance related issues’. ET Wealth Online was able to access the member passbook page on the EPFO portal on January 19, 2023.
EPFO guidelines: How TDS on interest will be deducted if EPF contributions exceeds Rs 2.5 lakh
EPFO has issued guidelines regarding when and how TDS on interest will be deducted if EPF contributions exceed Rs 2.5 lakh in a financial year. Further, it has also clarified the information that will be shared between the old and new employer in case of transfer of EPF accounts due to job change.
EPF e-nomination: 3 benefits of filing e-nomination
It is critical for all Employees' Provident Fund (EPF) account holders to name someone in their EPF account as a beneficiary so that the beneficiary can readily recover the money in the case of your death.
From BNPL schemes, gold hallmarking to new auto debit mandate: 11 personal finance changes, trends seen in 2021
Here is a look at major trends and changes that impacted our personal finances in 2021.
Will tax on PF interest also cover contribution to PPF account?
On the plain reading of the budget documents, it appears that tax will apply to the interest earned on contributions made to Employees' Provident Fund (EPF), Voluntary Provident Fund (VPF) as well as Public Provident Fund (PPF).
Govt plans to cut EPF contribution rate, take home pay would rise: Will employees benefit?
Currently, employee contribution to PF is 12 percent, and an equal percentage is contributed by the employer. However, the draft EPF Bill proposes to reduce the EPF rate of contribution to 10 percent, both by the employee and the employer.
How new EPF rules are going to impact you
The scheme is undergoing sweeping changes. Apart from recent tweaks in rules, new measures proposed could change its very structure.
EPFO services soon at 2 lakh common service centres of IT Department
According to the data available at EPFO website, as many as 2.93 crore UAN's have been activated by subscribers, which are now portable for life.
EPFO aims to cover all workers under PF, pension by 2030
Central Provident Fund Commissioner VP Joy called a meeting of EPF officers Association and All India EPF Staff Federation yesterday to discuss Vision 2030, it added.
Dormant employee provident fund account may earn interest
The age limit for withdrawal on retirement has been increased from 55 years to 58 and only partial early withdrawal is now permitted.
Economic Survey 2016 wants employee contribution to EPF be made optional
The survey has suggested that employees could be allowed to choose whether or not to save 12 per cent of their salary into EPF or keep it as take home pay.
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