epf scheme

A large section of today’s workforce earns more than ₹15,000 but remains outside compulsory social security coverage. Raising the EPF wage ceiling seeks to bridge this gap by aligning statutory coverage with present day wage realities.

Faulty Employees’ Pension Scheme (EPS) records may affect your pension benefits, denial of pension, or even complications in future EPF withdrawals or transfers.

"The Government has taken a decision for modification in the Employees' Provident Funds (EPF) Scheme, 1952, to add a new paragraph 68 BD," Labour Minister Bandaru Dattatreya said in a written reply to Rajya Sabha on a query about Housing Scheme for the members of EPFO.

The EPFO has implemented a digital process for submitting joint requests to contribute beyond the statutory limit under the epf scheme, 1952, to save time and paper. Existing members already exceeding the limit, with employers covering administrative charges, are not required to file joint requests immediately. Furthermore, the Supreme Court has mandated higher EPS pensions for employees who retired before September 1, 2014, and made increased EPF contributions.

Government will amend epf scheme to enable around 4 crore members of retirement fund body EPFO to withdraw up to 90% of their fund for making down payments while buying homes. The amendment in the scheme will also allow the subscribers to use their PF accounts for paying EMIs of home loans.

Employees should understand their employer's EPF setup for optimal tax benefits. Contributions to EPF accounts managed by EPFO or an exempted trust offer advantages. Unexempted EPF trusts have tax implications. Employers' role in managing epf schemes is crucial, affecting tax benefits. Knowledge of the EPF withdrawal process and account access enhances financial planning.

There may be good news for Employees’ Provident Fund Organisation (EPFO) subscribers soon. The epf scheme may fetch 8.6% interest from 2012-13 if the Central Board of Trustees (CBT) of the fund agrees to raise the rate.

Provident Funds (PF) is a saving scheme which encourages employees to invest and plan for their future financial needs.

The labour ministry has relaxed the definition of 'inoperative' employee provident fund (EPF) accounts, which do not earn any interest. Now, if an EPF account lies idle for 36 months or more, it will not automatically be treated as inoperative, but will continue to accrue interest.

The Merchants Chamber of Uttar Pradesh and the Employers Association of Northern India organised held an interactive session with regional provident fund commissioner on Saturday.

Check PF balance online through EPFO portal with just few simple steps mentioned below in the article.

Ahmedabad Regional Office of Employees Provident Fund Organization (EPFO) has filed prosecution against two city-based defaulting establishments for non-compliance of statutory provisions of the epf scheme.

In a sudden development, the government has introduced restrictions for withdrawing funds from your own employee provident fund account. The age limit for withdrawal on retirement has been increased from 55 years to 58 and only partial early withdrawal is now permitted.