EPF

EPF due payment via demand draft: EPFO allows one-time payment of past EPF dues via Demand Draft

The EPFO now permits employers to make one-time payments of past EPF dues via Demand Drafts, addressing situations where the standard Electronic Challan-cum-Return (ECR) system is unfeasible. While emphasizing internet banking as the preferred method, the EPFO allows this alternative if the regional officer is satisfied it's a one-time request.

EPFO simplifies UAN allotment: Now generate, activate UAN instantly with Face ID on UMANG App; Know how to use it

The EPFO circular has specified the process that provident fund members can use to instantly get and activate their UAN. It is important to note that UAN is one of the important documents in EPF.

EPF UAN activation: Check these three new facilities in UMANG app

EPFO 3.0 launch soon: Faster claims, ATM withdrawals & more

The EPFO is launching Version 3.0 by June to benefit over 9 crore users with ATM withdrawals and faster claim processing, according to Union Minister Mansukh Mandaviya. This digital overhaul aims to simplify services, eliminating complex forms and physical visits. The new system will enable OTP-verified account updates and easy fund monitoring.

Bengaluru techie compares salary vs career vs life in Dubai, USA, and India. His final verdict will surprise you

A Bengaluru techie's LinkedIn post comparing the financial and emotional benefits of working in India, Dubai, and the USA has sparked widespread discussion. Anish Sengupta's analysis, considering job security, taxation, cost of living, and cultural factors, suggests Dubai is best for tax-free income, India for family life and stability, and the USA for global career growth.

EPFO subscribers can now generate UAN via face authentication process

The Employees' Provident Fund Organisation (EPFO) has introduced face authentication for generating Universal Account Numbers (UAN) and accessing related services, simplifying the process for millions of subscribers. This initiative, along with the removal of certain documentation requirements and employer approvals, aims to provide contactless, secure, and fully digital service delivery.

RBI cuts repo rate: Indian Bank, PNB, Bank of India revise RLLR rates; lower EMI for home loan borrowers

The Reserve Bank of India on Wednesday reduced the repo rate by 25 basis points, bringing it down to 6% from 6.25% The impact of the reduction of RLLR will vary between old and new home loan borrowers. Most of these banks have promptly passed on the reduction benefit to new borrowers. However, existing borrowers will benefit according to their respective interest rate reset cycles.

Big relief for EPF members: Faster withdrawals and bank account seeding without employer’s approval

EPFO simplifies the claim settlement process by removing the need to upload cheque leaf or passbook images and eliminating employer approval for bank account seeding. These changes enhance convenience for over 6 crore members and reduce delays, improving the overall efficiency for employers.

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.

EPFO enables face authentication for UAN generation and activation

This is part of the series of measures announced by EPFO over the last one month under EPFO 2.0 initiative to streamline processes and simplify procedures. The move aimed at enhancing the ease of living for millions of EPFO subscribers while fast-tracking UAN generation and activation for all EPFO subscribers.

Private sector PF trusts increasingly surrendering exempted establishment status under EPFO

Private sector provident fund trusts are increasingly surrendering their exempted status to EPFO, with 17 establishments applying in FY24. This shift is driven by EPFO's higher returns, increased management costs for trusts, and the growing size of establishments making trust management more complex. Over the past two years, 27 establishments surrendered their exemption, adding 30,000 employees and ₹1,688.

EPFO simplifies claim settlement process; move to benefit over 77 million subscribers

EPFO has simplified its claim settlement process for over 77 million members by removing the need for a cheque leaf image and attested bank passbook. Additionally, employer approval is no longer required for seeding bank account details with UAN, expediting the claim settlement process and reducing grievances.

New vs old tax regime for TDS on salary: How salaried employees can choose the best tax regime for FY 2025-26

New vs old tax regime TDS on salary: April is the month when your employer asks you to choose between the old and new tax regime for TDS on salary for FY 2025-26. Read on to know the calculations for deciding the best tax regime to reduce TDS on salary for the new financial year.

Is Rs 10 crore enough to retire early? Financial expert gives four reasons why early retirement is still a dream

Early retirement remains challenging in India due to high inflation, limited social security, significant family responsibilities, and expensive healthcare. Hardik Joshi suggests investing aggressively in stocks, mutual funds, and REITs, creating multiple income streams, and ensuring substantial health insurance to counter these obstacles and achieve financial independence.

Last-minute tax-saving idea for FY25: Can ELSS mutual funds still be a good fit into your portfolio?

The investment options under Section 80C include ELSS funds, NPS, ULIP, PPF, EPF, FD, SSY, and NSC. While ELSS schemes have a lock-in period of three years, the other options under Section 80C typically have a longer lock-in period.

EPF's EDLI scheme: 3 changes announced for death benefit

EPFO achieves historic high of 2.16 crore auto-claims in FY25

EPFO has achieved a historic high of 2.16 crore auto-claims settlements in the current financial year, compared to 89.52 lakh in 2023-24. The auto-mode claims are processed within three days and 99.31 per cent of the claims are now received online, eliminating the need to visit field offices.

Lower tax on higher income in new tax regime from April 1: How your salary structure will decide if you get a big tax savings

The new tax regime will have new income tax slabs from FY 2025-26. Many salaried employees hesitated to switch to the new tax regime as they could save taxes on the investments and expenses made during the financial year. However, unlike the old tax regime, where the 30% tax rate starts at incomes above Rs 10 lakh, the 30% tax rate in the new tax regime will start from incomes above Rs 24 lakh.

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.

How much DA hike can central government employees expect from January this year?

The government is likely to announce a Dearness Allowance hike for central government employees and pensioners, effective January 1, 2025, sometime soon. Experts are predicting a 2% to 4% increase, impacting salaries and pensions positively. The increase will be determined based on inflation data. The formation of the 8th Pay Commission, which will be effective starting January 1, 2026, is also set to hike salaries and pensions of central government employees.

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.

PM Internship extended to this date: Here’s how to register and avail internship with Rs 5,000 monthly stipend to Rs 6,000 grant

The PM Internship Scheme is a government initiative to provide young individuals with practical exposure to professional work environments. If you have not yet applied, now is your opportunity to register, create your profile, and explore internship opportunities across various sectors.

EPF interest rate 8.25% for 2024-25: What’s actual interest amount you will get in your EPF account now? Here’s how to calculate it

EPF interest rate 8.25%: The Labour Ministry has retained the 8.25% interest rate for the current financial year 2024-25. Once the interest rate is notified by the finance ministry, the EPF account holders will get the interest credited to their EPF account. Very few EPF account holders are aware of how EPF interest is calculated.

Going abroad? How to handle your EPF when you move to another country

It is crucial to manage your EPF account before relocating abroad for work, as you can withdraw the balance immediately. The process includes submitting the appropriate forms, and retaining the account could be beneficial for temporary relocations. Additionally, some countries have Social Security Agreements with India to avoid dual contributions.

New Tax Regime 2025: Features, standard deduction, and key benefits explained

EPFO retains 8.25% interest on PF deposits for 2024-25, benefiting 7 crore subscribers

EPFO retains the 8.25% interest rate on provident fund deposits for 2024-25, benefiting over 7 crore subscribers. The rate, previously raised from 8.15% in 2022-23, reflects an income increase. Subscribers can check EPF balances via the Umang app, EPFO portal, or missed call.

Maiya Samman Yojana: Rs 2,500 to be credited in only these women's accounts; check date and eligibility

The Jharkhand Mukhyamantri Maiya Samman Yojana provides financial assistance of Rs 2,500 per month to economically weaker women aged 18 to 50 years. Eligible beneficiaries must hold a ration card issued by the Jharkhand government, with funds directly transferred to their Aadhaar-linked bank accounts.

Money deadlines in March 2025: From special FD deadline to UAN activation

Key financial tasks must be completed before March 31, 2025, to optimize tax savings, invest in special FDs, and activate UAN for EPF-linked insurance. Special FD schemes from banks like SBI and Indian Bank offer higher interest rates, and these opportunities should be seized before their deadlines.

Gratuity calculation in CTC: How is gratuity calculated as a portion of employee's CTC in offer letter; Check formula

Gratuity calculation in CTC: Gratuity is paid when an employee leaves the organisation after completing a minimum service period of five years. When an employee joins a new company, the gratuity is added to the CTC. However, not many are aware how this gratuity amount is calculated in the offer letter.

Deadline to activate UAN for EPFO's ELI Scheme extended again; here is how to activate your UAN and avail benefits

The UAN activation and linking of bank account with Aadhaar is necessary to avail of benefits under the EPFO's Employment-Linked Incentive Scheme

EPFO employees can now shift from National Pension System (NPS) to Unified Pension Scheme (UPS)

The 112th meeting of the executive committee (EC) of the central board of trustees, EPF under labour and employment secretary Sumita Dawra on Tuesday formally adopted the unified pension scheme (UPS) for EPFO employees. The UPS is expected to ensure financial security post-retirement, offering a minimum guaranteed pension along with additional benefits such as family pension provisions and dearness relief adjustments, the ministry of labour and employment said in a statement issued on Wednesday.

SpiceJet clocks profit on reduced expense

Low cost carrier SpiceJet reported a profit of Rs 25 crore for Q3FY25, a turnaround from a loss of Rs 301.5 crore in the same quarter last year. This marks the first time in a decade the company's net worth has been positive, reflecting the success of its financial recovery efforts.

EPFO likely to fix 8.25% as interest rate for FY 2024-25: How to check EPF balance, interest for previous years

The Employees' Provident Fund Organisation (EPFO) may revise the interest rate on provident fund deposits for 2024-25 to between 8% and 8.25%. Members can check their EPF balance through the Umang app, EPFO portal, missed call, or SMS.

Have a CTC of over Rs 17 lakh? You can still pay zero tax just by rejigging your salary structure: Here's how

Salary structure to pay zero tax: If your taxable income is more than Rs 12 lakh, there are ways that you can still pay zero tax. This can be done by rejigging your salary structure and using reimbursements that are allowed under the new tax regime. Know four reimbursements and allowances that can help you reduce your taxable income.

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.

Deadline to activate UAN for EPFO's ELI scheme is February 15: How to activate UAN to avail ELI benefits

The deadline to activate the Universal Account Number (UAN) and link your bank account with Aadhaar for the EPFO's Employment Linked Incentive (ELI) Scheme is February 15, 2025. UAN activation enables access to EPFO's online services.

PF claim settlement rule change: Now EPF members will get more interest money on EPF withdrawal, faster settlement

New EPF claim settlement rule: The EPFO has announced changes in Para 60(2)(b) of the EPF Scheme, 1952. The changes announced in the Employees Provident Fund Scheme will help EPF members to get more interest in claim settlement and faster claim settlement. Know all about the new rule, when it is applicable, and which EPF claims it will impact.

Automatic EPF account transfer from old to new job: How EPFO's facility works

Automatic EPF account transfer: Employees Provident Fund (EPF) members can now automatically transfer their provident fund accounts from their old employer to new employer. However, this facility is available to certain EPF members only satisfying certain conditions. Read on to know to whom automatic EPF account transfer facility is available and how it works.

Will your EPF account earn tax-free interest even after you leave job?

Many salaried workers make monthly contributions to the Employees' Provident Fund (EPF) account knowing that the account will mature at the time of retirement. However, not many people are aware of the finer details of the scheme. How long money can be kept in the EPF account after leaving job? If an interest will be earned on those EPF accounts.

EPF members can now use Digilocker to submit Joint Declaration (JD) requests for profile related changes

The EPFO intends to increase processing speed and accuracy by lowering paperwork and facilitating digital submissions using Digilocker. The revised process will ensure that even members in special circumstances such as deceased members or members of closed establishments can finish their declarations in paper form.

How to check if your employer has deposited your EPF contribution into the account

Once the Employees' Provident Fund deduction has been deducted from an employee's salary, an employer must deposit the same in the EPF account within the prescribed time limit. However, there have been instances where an employer has failed to deposit the same on time. If the deposit is not made by the employer, it is ultimately a loss for an employee.

The Employees Provident Fund (EPF) Calculator

The Employees Provident Fund (EPF) Calculator is a handy online tool that helps people estimate their Employee Provident Fund (EPF) savings, a retirement benefit provided by the Indian government.

Relaxation in EPF deposit rules for employers did not lead to interest loss: Here's why

Due to on-going coronavirus pandemic, EPFO provided relief to the employers by providing relaxation in making the statutory deposit for March 2020. However, this decision would not lead to interest loss for members of the EPF scheme. Here's why.

EPF withdrawal claim: How many days does it take to settle an EPF withdrawal claim?

Settlement of EPF withdrawal claim: Many Employees' Provident Fund (EPF) members experienced difficulties after submitting withdrawal requests from their EPF accounts. Some of them voiced concern, noting that there has been no news on the situation since making a withdrawal claim.

Can you transfer EPF account from unexempted trust to EPFO, exempted trust?

EPF account transfer from unexempted trust: Many salaried individual have Employees' Provident Fund account either with EPFO or exempted trusts. However, what if you have an EPF account with unexempted trusts? Does EPF scheme rules allow an EPF member to transfer the unexempted trusts to EPFO or exempted trusts? Read on to know about it.

You could lose section 80C tax benefit on EPF contribution; here's why

Section 80C tax benefit on EPF: Many salaried individuals claim Section 80C tax benefit on their own Employees Provident Fund (EPF) contribution. However, not many are aware that if the EPF trust does not meet certain specified conditions, then both the employer and employee contribution will be taxable in the hands of an individual.

How to avoid rejection of EPF withdrawal claim; Steps provident fund member should take

EPF Withdrawal claim rejection: Many individuals are struggling to get their EPF money at the time of withdrawal. The reason for rejection of their EPF claim is due to mismatch in the details available in the EPFO records as well as in the EPF account holders' PAN, Aadhaar or incomplete KYC records. Here is how the EPF claim rejection can be avoided.

Has your EPF interest become taxable after latest salary increments? Here's how to check

The mandatory EPF contribution made to an individual account is calculated on the basic salary amount. Post the appraisal season, as your salary hikes, even the EPF contribution will also hike. If the EPF contribution in a financial year (including VPF) exceeds this specified limit, then interest received on excess contribution is taxable.

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?

When does EPF withdrawal become taxable?

Though the biggest USP of the Employees' Provident Fund is its EEE tax status, however, there are certain instances when EPF can become taxable. Here is a look at those circumstances when you are required to pay tax on EPF whether at the time of making contributions or at the time of withdrawal.

How to merge two or more EPF accounts

If an individual has multiple UANs, then it's important that the individual mergers all his/her UANs so that balances from the old EPF accounts can be transferred to the EPF account held with his/her current employer. Given below is the online process of merging two or more UANs of EPF accounts. Do note that an online process can be undertaken provided all the EPF accounts (old as well as new) are KYC compliant.

SpiceJet may be defaulting on EPF: How to check if your employer is depositing it

In Budget 2021, the government amended the income tax law to ensure that employers deposited employees' EPF dues on time.

When will EPF interest be credited for FY 2023-24? Here’s what EPFO has said, 4 ways to check PF balance

EPF interest for FY 2023-24: The Employees' Provident Fund Organisation (EPFO) announced the interest rate for provident fund deposits for the 2023–2024 fiscal year in February of 2024. The interest rate for 2023–24 was raised by the EPFO from 8.15% to 8.25% from the previous year.

New EPF auto-settlement claim rules for medical, education, marriage, housing: How to use this facility, eligibility

EPF auto-settlement of withdrawal claims: The EPFO in a press release has announced extending the coverage of auto-settlement of withdrawal claims to marriage, housing and higher education. The auto-settlement claim was earlier available for specified medical illness only. Read on to know who can apply for these claims, documents required to apply and other details.

Now, even idle EPF account will earn interest

The dilution in the definition of inoperative accounts means that from Nov 11, more account holders will get interest against funds lying idle in their EPF accounts.

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%

Deadline to activate UAN for EPFO's ELI Scheme extended to this date: Here is how to activate UAN to avail ELI benefits

The UAN activation and linking of bank accounts with Aadhaar is necessary to avail of benefits under the EPFO's Employment Linked Incentive Scheme.

Is there a last date to file e-nomination in EPF account?

It is important to ensure that an individual makes a nominee in his/her EPF and EPS account so that after their demise, monetary proceeds can be easily given to the nominee.

You can file EPF e-nomination after Dec 31 too

The Employees' Provident Fund Organisation (EPFO) has said that members can e-file EPF nominations beyond December 31, 2021. This facility can be availed from the EPFO's member sewa portal.

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.

These EPF members have started receiving interest payments for FY 2023-24; check EPFO’s statement, 4 ways to check EPF balance

EPF interest payment for FY2023-24: The Government of India has authorized and informed that interest rate for EPF members for the Financial Year 2023–2024 is 8.25% on May 31, 2024. The EPFO said that EPF members' interest rates are not disclosed quarterly.

EPFO gives relief to these EPF members from submitting joint declaration form

EPFO Joint declaration form submission: EPF scheme rules require mandatory submission of this form if an EPF member wants to contribute on basic pay exceeding statutory limit of Rs 15,000 per month. The EPFO has also started sending SMSes to the EPF members to submit the joint declaration form as soon as possible.

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.

Do EPF members suffer loss if interest payment is delayed by EPFO? Know how withdrawal works when interest credit is pending

Going by the trends seen in many previous years, though interest rate on EPF deposits for the financial year 2023-24 was announced in February to be 8.25% however, the actual payment of interest into respective EPF accounts may take longer. Most EPF members have this concern whether they will lose out earning more interest due to this delay. We tell you how it works.

Know the maximum investment in VPF for tax free interest on EPF account

If an individual is covered Employees' Provident Fund (EPF), then every month same is deducted from his/her salary. To make an additional contribution to the EPF account, one can do so via Voluntary Provident Fund (VPF). However, do note that if the contributions via EPF and VPF exceed Rs 2.5 lakh in a year, then the interest earned on it will become taxable.

From August 1, EPF contributions will be deducted at 12 per cent

The Employees' Provident Fund (EPF) monthly contributions were reduced from 12 per cent to 10 per cent as a part of the Atma Nirbhar Bharat Package back in May 2020. The move was aimed at providing some savings to employers and employees to tide over coronavirus crisis.

How to change EPF nomination online

Every member should name a candidate or nominee to receive the EPF's funds if he or she passes away prematurely. Thus, it is vital to keep your nomination details up to date in order to avoid any legal issues for your loved ones in the future.

EPFO issues new rules for inoperative, inactive EPF accounts to stop frauds: Check the latest details

EPF inoperative inactive accounts unblock: The Employees Provident Fund Organisation (EPFO) has issued new guidelines to make the inoperative and inactive, transaction-less accounts active again. The new rules are issued to stop the frauds and also to ensure proper verification is done before money in credited into the claimant bank accounts.

How EPF discriminates against those who need it the most

The government is in the process of implementing the new Labour Codes, likely to be effective from April 1, 2021. One of the important aspects of the code is to provide ‘social security for all’. In keeping with this spirit, there is a need to amend the tax laws also, to no longer subject EPF withdrawals to tax.

Why EPF still remains a good bet for investors despite rate cut

EPF is still attractive and government savings bonds and mutual funds are likely to offer better returns going ahead.

How to file new nomination in EPF account online

Members of EPF can make changes to their existing EPF/EPS nominations by filing a new nomination. The new EPF/EPS nomination will take precedence over the previous one.

EPF interest rate hiked to 8.25% for FY 23-24; 4 ways to check your EPF balance

EPF interest rate for FY2023-24: The interest rate will be formally announced in the government gazette if approved by the Ministry of Finance. EPFO will then credit the agreed rate of interest to its EPF subscribers' accounts.

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).

How EPF discriminates against those who need it the most

For a vast number of the salaried, the employee provident fund (EPF) is the only social security net they have. But the EPF rules are such that they tend to discriminate against the young and vulnerable — those who have not yet worked for five years without a break. It took a pandemic to expose how this hurts the private-sector salaried workers most when they were hit hard.

EPF Nomination Rules: Getting married makes your EPF, EPS nomination invalid

As per EPF scheme rules, once you get married the previous nomination made by you automatically becomes invalid in your PF and EPS account.

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.

EPF withdrawals will be less taxing now. All about the big budget announcement

Withdrawals from an EPF account before the completion of five years are currently taxable. TDS is not applicable if the withdrawal amount is less than Rs 50,000. However, TDS will be imposed at the maximum rate of 30 per cent for withdrawals exceeding Rs 50,000 if you haven't seeded your PAN with EPF account.

EPFO credits 23.34 crore EPF accounts with interest of 8.5% for FY2020-21: How to check PF balance

Employees who contribute to an EPF account can check their account balance using these methods: Umang App, EPFO Member e-Sewa online, SMS, or a missed call.

TDS on EPF: When TDS is applicable on EPF withdrawal, how to avoid it

If an EPF balance is withdrawn before 5 years of service, TDS is deducted at a rate of 10%. TDS will be deducted at the highest slab rate of 30% if PAN is not provided during withdrawal.

EPF members can do KYC, correction in provident fund account online: Here is a step-by-step guide to do it

Correction in EPF details online: It may happen that an employee details such as name, gender, date of birth, father/mother's name etc. in the EPFO records are wrong. This may be due to spelling errors or wrong details mentioned in the EPF records. The EPFO has launched an online facility to correct KYC details online. Here is a step by step guide on how to use online KYC facility to correct details.

How to transfer your EPF account online

There are certain conditions that an individual must satisfy while transferring money from one EPF account to another.

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.

EPF claim rejections: 8 reasons your EPF withdrawal claim can get rejected, how to avoid it

EPF withdrawal: Here are some of the common reasons why your claim could be rejected and solutions to avoid the rejection.

Your employer's EPF, NPS contribution can be taxable in your hands: Here's how to check if it is

As per the announcement made in Budget 2020, if an employer's total contribution to the EPF, NPS and superannuation fund exceeds Rs 7.5 lakh in an FY, then the excess contribution will be taxable to an employee. Further, any interest, dividend etc. earned on the excess contribution is also taxable. This income tax rule is effective from April 1, 2020, onwards.

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.

How to download your EPF passbook

The Employees Provident Fund (EPF) statement shows the total corpus that has been accumulated in the EPF account through contributions made by an employee and employer. To access the EPF passbook, one must be registered with the EPFO website.

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.

What will happen to your EPF, EPS if govt hikes PF wage limit to Rs 21,000?

As per The Economic Times report, the government is considering raising the monthly wage threshold limit from Rs 15,000 currently to Rs 21,000. If this proposal goes through, this will have an impact on your EPF corpus, EPS contribution, amount of pension you are eligible to receive among others. The last time government hiked the wage ceiling limit in September 2014.

EPF changes

Now you need not file separate EPF transfer claim on switching jobs

EPFO subscribers are no longer required to file separate EPF transfer claims using Form-13 after changing jobs as it will now be done automatically.

EPF withdrawal: How to check, change bank account details in your EPF account

It is important that your correct bank account with correct IFSC is linked to your Universal Account Number (UAN) to receive the credit of EPF funds timely.

EPF vs NPS: Who should move from EPF and who should stay put

Unless the problems facing the EPF are addressed, the scheme is headed for trouble and younger people should consider moving out to the more transparent and better managed NPS. The NPS also offers them the potential to earn better returns than the EPF which has a very small portion of its corpus in equities.

When can intern, trainee, apprentice get EPF account with employer?

The Employees' Provident Fund Organisation (EPFO) has issued two circulars laying down the guidelines when EPF will be deducted from the stipend paid to intern/trainee/apprentice and when will it not be. The Employees' Provident Fund and Miscellaneous Provisions Act, 1952 is silent on whether stipend comes under the purview of law.

No EPF nominee? How PF money will be paid after EPFO member's death

. Employees' Provident Fund (EPF) account allows nominees to receive a portion of PF accumulations, EDLI benefits, and pension payments in the case of a member's death.

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

You have very limited choice as to who gets your EPF, EPS, EDLI in case you die

If you will your EPF and EDLI money to anyone other than the defined 'family' members, then the nomination made in the scheme would override the beneficiary mentioned in the will. Similarly, EPS cannot be bequeathed via a will.

How to withdraw from EPF if you need money due to coronavirus

The government has amended the EPF withdrawal rules allowing two non-refundable withdrawals to an individual facing financial problems due to novel coronavirus pandemic. As per EPFO, no documents /certifictaes are required to withdraw this amount.

Your employer can contribute 12% to your EPF account if it is included in your CTC

Your employer can still continue to contribute to your EPF account at a rate of 12 per cent. Here is how.

What to do if your employer does not deposit EPF contributions in your account

It may happen that certain contributions are missing from your Employees' Provident Fund (EPF) account. This may be due to employer not depositing the EPF contributions on time. In such a case, what can employee can do. Where can an EPF member file a complaint regarding the missing EPF contributions from EPF account.

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.