12 PERCENT EPF
EPS-95 pension row: Retirees challenge 2007 EPF amendment over lower pension; Karnataka HC rules against them
The Karnataka High Court ruled against retired employees challenging amendments to the Employees' Pension Scheme, 1995. The court found the government's power to amend the scheme was legitimate and did not violate vested rights. Retired employees argued that their pension entitlements were reduced by the 2007 amendments. The EPFO clarified that the amendments corrected existing anomalies and did not take away benefits.
EPF account withdrawal rule changed: EPFO discontinues Covid-19 advance facility
During the Covid-19 pandemic, a non-refundable advance was provided to the EPF members during the outbreak of first wave of Covid-19 and another advance was also allowed in view of second wave
EPFO Interest Rate Hike: EPFO declares 8.25% as EPF interest rate for FY 2023-24
EPFO Interest Rate Hike: The Employees Provident Fund is a mandated contribution for salaried employees. An employer is also obligated to make a matching contribution to the EPF account. On a monthly basis, an employee contributes 12% of his earnings to his EPF account. The employee's whole contribution is placed into the EPF account. In the case of the employer, just 3.67 percent is deposited into the EPF account. The remaining 8.33% goes to the Employees Pension Scheme (EPS).
When will EPF interest for FY 2022-23 be credited, how to check EPF account balance
EPF interest rate for FY 2022-23: Salaried workers are required to make a contribution to the Employees Provident Fund. Additionally, an employer is required to contribute in a matched manner to the EPF account.
Retirement Planning: How to save for your retirement
Financial planners suggest a retirement corpus target that is about 20 times your annual income. While some feel that 30 times can be a better figure as it will take care of inflation.
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EPFO declares 8.15% as EPF interest rate for FY 2022-23
The EPFO has announced the interest rate for EPF accounts for the financial year ended on March 31, 2023. The interest rate for FY 2022-23 has been hiked by 0.05%
EPF interest rate fixed at 8.15% for FY 2022-23 by EPFO; hikes interest rate by 0.05%
The Employees Provident Fund Organisation (EPFO) has fixed the interest rate at 8.15% for financial year 2022-23 as per the sources quoted by news agency PTI. If this interest rate is finalised by the Central Board of Trustees (CBT), then there is hike in interest rate by 0.05%. The EPFO board is meeting for two days to decide the interest rate on EPF account.
How to find PPO number for pension in EPF
The Pension Payment Order (PPO) number is required when applying for pension and when submitting one's annual life certificate. Transferring a PF account from one bank branch to another can be problematic if one does not know the PPO number.
8.1% EPF interest rate approved for 2021-2022, amount to be credit soon; Here’s how to check EPF balance
For 2021-22, the Centre has approved an interest rate on Employees' Provident Fund (EPF) deposits of 8.1 percent, down from 8.5 percent the previous year. You can check your EPF amount using the Umang App, EPFO Member e-Sewa online, SMS, or a missed call.
Documents required to avail pension in case of death of EPS pensioner
The Employee's Pension Scheme (EPS) was established in 1995 with the main goal of assisting employees in the organised sector.
What is EPF scheme and how to calculate PF balance?
The Employees' Provident Fund (EPF) is a scheme in which retirement benefits are accumulated. Under the scheme, an employee has to pay a certain contribution towards the scheme and an equal contribution is paid by the employer.
EPFO urges companies to facilitate e-nomination of women employees
Establishments that filed an e-nomination for December 2021 and January 2022 are eligible for this declaration, according to an EPFO tweet.
Tax on EPF interest will not impact these salaried people
If your current basic salary is up to Rs 1,73,611 per month and you are not contributing to VPF then you do not need to worry about the tax imposed by this budget. Majority of salaried individuals with current salary below this level will not be impacted by this tax at present.
Reduced EPF contribution: 16 questions answered by EPFO
The reduction in EPF contribution to 10 per cent from 12 per cent was announced by Finance Minister Nirmala Sitharaman as a part of the Atmanirbhar Bharat Package to provide some relief to employers and also to increase the take-home pay of the employees.
Income tax benefits on EPF contributions: New vs existing tax regime
In the new tax regime, the tax benefit available on employee's own contribution to EPF account is impacted.
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.
What happens to your EPS account when you transfer your EPF account?
According to EPF rules, 8.33 percent of the employer's contribution is diverted towards EPS account.
You could soon get the option to lower your EPF contribution. Should you go for it?
Financial planners say reducing contribution to the EPF will have far reaching implications for the employee.
Govt plans to amend EPF: Allow switch from EPS to NPS, protect PF dues in case of bankruptcy
Here is a look at the three major changes proposed in the EPF Act as per the draft bill.
EPFO withdraws circular relaxing rules for payment of higher pension to eligible EPS members
This has been done to smoothly implement the orders of the SC on paying pension to employees on the basis of higher contributions made earlier on the basis of actual salary.
Budget 2018 proposal: New women workers take home pay to go up as EPF contribution capped at 8%
Budget 2018 also proposes that women joining the workforce for the first time will have to contribute only 8 percent instead of 12 percent.
Lowering of PF contribution proposed: Here is how it will impact you
This can impact your take-home pay and the corpus accumulated at the time of retirement. Further, the cost-to-company will change too.
Govt to contribute to EPF only for new employees registered till Mar 31, 2019
The Government will now contribute the Employer's full contribution for the first three years from the date of registration of the new employee.
Why you should think beyond EPF, PPF to save for your retirement
With these long-term, tax-efficient products offering lower returns compared to equity products, what should someone saving for retirement do?
Budget 2018: Why government may make NPS corpus tax free
Currently, NPS enjoys partial tax exemption on the maturity amount while the annuities remains fully taxable in the year of receipt.
EPF, PPF interest rate gap widens to 105 basis points: Self-employed class disadvantaged
Even if the EPF rate is cut, the difference would remain substantial thereby disadvantaging the self-employed class in terms of retirement savings.
How taxing interest portion of EPF impacts you
At a time when everybody was expecting NPS to be EEE, govt has made EPF similar to NPS. But, the final word on EPF taxability is still not out.
Time for a closer look at the black-hole called EPS
The FM proposal to tax EPF corpus or probably the interest portion has raised a huge hue and cry among salaried class of the country.
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