PF SAVINGS
Can I withdraw my EPF to repay home loan principal; will I have to pay tax on it?
ET Wealth Reader's Query: Can I withdraw my Provident Fund to repay my home loan principal? Will I have to pay taxes on PF withdrawal? How long can I retain the money in my EPF account and continue earning interest—up to three years from the date of my last contribution or until I turn 58?
Jointly owning property to save tax? Why married couples must also plan for ownership and inheritance
Couples should focus on establishing shared ownership of assets and developing a continuity plan to access these in case of emergencies. It's crucial to clearly identify the funding sources for joint properties to avert any tax conflicts. Supreme Court rulings clarify that a nominee serves as a custodian rather than an owner. Drafting a Will detailing asset ownership helps avert disputes among nominees and legal heirs.
Rs 4 lakh investment built an Rs 7848 crore empire. How a Mumbai man, who once earned Rs 150 a month, built a flourishing diagnostic laboratory chain
The entrepreneurial path of Dr. Arokiaswamy Velumani shows how perseverance, vision, and ingenuity can help create a profitable business with little funding. He invested just Rs 4 lakh to start a small thyroid testing lab in 1996, with Rs 2 lakh coming from personal savings and another Rs 2 lakh taken out of his provident fund.
EPFO reveals conditions to join EPF, EPS and EDLI
The Ministry of Labour and Employment has raised the Employees' Provident Fund wage ceiling to enhance participation. Employees earning between Rs 15,000 and Rs 25,000 will now be required to join the schemes. Those earning less than Rs 15,000 can also opt into the schemes voluntarily. This increase in ceiling may lead to higher PF contributions and, consequently, greater retirement savings.
EPFO WhatsApp Service: How to check PF balance, view transaction history and download passbook easily; here's how
The Employees' Provident Fund Organisation (EPFO) has introduced a convenient WhatsApp service to enhance member access to their provident fund details. This innovation enables users to effortlessly check their EPF balance and examine transaction histories. Additionally, members can obtain their passbook directly via WhatsApp following a verification step. Launched by Union Labour and Employment Minister Mansukh Mandaviya, this initiative aims to simplify service access for all members.
Is EPFO set to invest in startups, AIFs? Report says provident fund body is working on guidelines
Employees' Provident Fund Organisation plans to establish rules for investments in alternative investment funds. The organization is considering allocating up to 3% of new annual accretions to AIFs for diverse investments.
- Go To Page 1
VRS offer in hand? Check these tax rules before you accept the package
Contemplating a Voluntary Retirement Scheme (VRS)? Prior to making your decision, it’s crucial to analyze the overall financial implications, including taxation aspects and the treatment of different package components. Be clear on the eligibility for tax breaks and ensure that your financial security after retirement is adequately planned.
How EPFO wage ceiling reset will change PF contribution math
The Employees' Provident Fund Organisation has changed the mandatory wage ceiling from Rs 15,000 to Rs 25,000 as of September 17. This shift is expected to enroll one crore more workers into the social security net. Employees earning up to Rs 25,000 will now have a mandatory PF contribution of Rs 3,917.
EPF wage ceiling at Rs 25,000: What it means for employees, employers and take-home pay
The Union Cabinet approved raising the EPF wage ceiling to Rs 25,000. This change impacts mandatory PF contributions for employers and employees. Actual PF contributions depend on an employee's defined wage structure. Employers must bear their increased PF share as a statutory cost. This enhancement aims to strengthen long-term retirement savings and social security.
EPFO fund withdrawal rules for illness: How much EPF can you withdraw for medical treatment?
Eligible Employees' Provident Fund Organisation (EPFO) members can withdraw up to 75% of their EPF balance for illness-related expenses after completing 12 months of EPF membership.
EPF wage ceiling hiked to Rs 25,000: How much employees gain and what it costs the government
In a significant move, the government has lifted the provident fund wage ceiling to Rs 25,000 monthly, bringing over 51 lakh new employees into the fold of social security. This adjustment is projected to cost the Centre Rs 11,339 crore annually. As a result, more individuals will benefit from mandatory coverage, but employers should prepare for an increase in obligatory contributions once the changes take effect.
₹25,000 EPF wage ceiling: What employees need to know about EPF, EPS and EDLI
The Employees Provident Fund Organisation has introduced a new wage ceiling of Rs 25,000, which will directly influence the contributions made by both employees and employers to the provident fund. Furthermore, subscribers of the Employees Pension Scheme can expect an increase in their monthly pension benefits.
Will your in-hand salary decrease after wage ceiling hike? Know why employers can't recover higher EPF contribution from these employees
The EPF wage ceiling limit has been increased to Rs 25,000 with effect from September 17, 2026. However, this does not mean that every employee will experience a lower take home pay. This is dependent on many factors like how much EPF contribution has been now, and others. Read the article.
EPF wage ceiling hike: Lesser take home salary for these employees; know how you will be impacted
In a significant update, the EPFO wage ceiling limit has been modified to Rs 25,000 monthly. This modification will add fifty-one lakh workers to the social security umbrella. With this change, both employee and employer contributions will go up from Rs 1800 to Rs 3000, potentially cutting monthly take-home pay by Rs 1200.
EPFO wage ceiling raised to Rs 25000 per month; over 10 million formal sector workers to benefit
The enhanced wage ceiling, approved by the Cabinet on Wednesday, will put additional financial burden on employees and the government while the employees may see a dip in take home salary. As per government estimates, the average additional outgo for employers will be Rs 600 per worker per month under the enhanced wage ceiling, which comes into effect from Thursday. The annual government outgo is estimated at about Rs 11,339 crore.
EPFO wage ceiling hike may cover up to 1 crore more workers: Union Minister Mansukh Mandaviya
The EPFO wage ceiling has been increased to Rs 25,000 per month. This change is expected to bring between fifty lakh and one crore new beneficiaries. Mandatory social security coverage will now extend to more employees. Employers and employees will see adjusted contribution amounts for this salary bracket. The revised wage ceiling will be implemented from Thursday, September 17.
Did you change your EPF nomination after marriage? Time to act is now, as it becomes invalid if you don’t
Did you realize that getting married may nullify your EPF nomination? This frequent oversight can lead to significant issues for your family. It’s essential to update your EPF nomination following marriage. Uncover who you can name as a nominee and how to ensure your family can receive their benefits effortlessly when they need them most.
'Don't keep your money in...': Before you turn 30, Bengaluru CA says you should know these 5 money rules
Bengaluru CA Meenal Goel shared five money rules she wishes she knew at 25. She advised checking EPF contributions regularly, adding nominees across financial accounts, spreading deposits instead of keeping all money in one bank, getting term and health insurance while young and healthy, and understanding salary slips, including Basic, CTC, PF, gratuity and deductions.
EPF advance rules: You can withdraw EPF money for these 5 reasons; check limits
Members of the Employees Provident Fund Organisation can access their savings in times of need, such as emergencies and personal circumstances. Illness-related withdrawals have no limits, while education expenses allow for up to ten claims. For marriage and housing, members may withdraw funds up to five times each during their membership.
Rs 26 lakh salary, Rs 27,000 rent and Rs 24.5 lakh savings: Bengaluru woman is afraid to buy a house. Why?
A Bengaluru woman earning Rs 26 lakh annually is considering whether to buy a home or continue renting for Rs 27,000 a month. Amit Arora shared that she has Rs 24.5 lakh across savings, mutual funds and PF, with no existing loans. However, supporting her parents and the burden of a large EMI have made her consider waiting two to three years.
New labour code impact: Rs 8k less take home pay likely for employee with Rs 15 lakh CTC; check the impact on CTCs of Rs 10 lakh, Rs 25 lakh and Rs 50 lakh
New labour codes mandate higher provident fund contributions for employees. This change reduces monthly take-home pay for many salaried individuals. Salaried employees having Rs 15 lakh CTC may get up to Rs 7,928 less net take home pay after new labour code is applied; Know what happens for Rs 10 lakh, 25 lakh and 50 lakh CTC.
EPFO's New PF Rules Explained: Faster withdrawals, three-day settlement and other key changes
EPFO Rule Changes Explained: The Centre has revamped EPF rules, promising faster claim settlements within three days for withdrawals and 20 days for pension and insurance. Penalties for delays and a largely paperless system are introduced. Employees can now withdraw 75% of their PF balance upon job loss and access funds for illness, education, and marriage with reduced service requirements. Full withdrawals are also permitted earlier, offering greater financial flexibility.
Is VPF a good choice for retirement saving?
VPF is a voluntary increase in the contribution towards PF, with no matching contribution from the employer. Since the amount is deducted even before the salary is paid, it is a disciplined way to invest.
Tax queries: Income received from provident funds outside India cannot be taxed
Income received from PFs outside India cannot be taxed, even if it is transferred to an Indian account subsequently. Our expert explains.
Taxing premature PF withdrawals of over Rs 30k may be kept in abeyance
A decision is expected by the end of this month, the PF department has asked all offices to gear up for deducting tax from all premature PF claims.
US embassy could lose tax breaks on provident fund
The United States’ embassy in India could lose income-tax breaks on retirement savings of its Indian staffers from April 1, 2014.
EPFO seeking refund of ‘excess interest’; sends out notices to members whose requests were completed after April 1, 2011
EPFO has reached out to present employers of PF members & sought refunds, citing wrongful credits of excess interest on past PF balances.
Budget 2012: Confusion for company-run provident fund trusts
To ensure that their employees are not at mercy of the state-run PF dept, many employers manage funds in-house by setting up PF trusts under IT Act of 1961.
PF trusts jittery over tax treatment of gains above 8.5 pc
There is ambiguity over how the 1% differential between EPF rate and the tax-free ceiling should be treated while crediting interest to employees.
Load More
