EPS: Benefits & How To Withdraw

India’s largest social security organization, EPFO provides a unique universal account number (UAN) to insured members to view the break of the EPF and EPS wages contributed in their provident fund account online, and the history of transaction of entries of amount, as well as share of contribution deducted from their salary during the entirety …

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EPFO FAQ- Is there any financial loss to EPF members due to the delay in updating of interest in the member passbook?

EPFO FAQ- Is there any financial loss to EPF members due to the delay in updating of interest in the member passbook? Updating of member passbook with interest is an entry process. The date on which the interest is entered in the passbook of the member has no actual financial bearing as the interest earned …

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How to avail EPF Advance for Construction of House?

EPF Advance for Construction of House? Ever considered PF withdrawal to finance your new home? That in fact is a convenient and easy option. Read on to learn more about how to do pf withdrawal. When you plan to buy a new home, the arrangement of finances turns out to be one of the most pertinent issues. While …

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EPF members can avail Non-refundable advance for illness of self or Family members

EPF members can avail Non-refundable advance for illness of self or Family members. How much advance PF can be applied in this scheme? As per EPFO, member can withdraw an advance of six months basic salary (including DA) or the Total amount deposited in the members account including interest whichever is less. As per EPFO, …

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Proposal to change the formula for pension under EPS-95

The Employees’ Provident Fund Organization (EPFO) is seriously considering a change in the existing formula for monthly pension determination. Under this, it is proposed to determine the monthly pension on the basis of average pensionable pay drawn during the entire pensionable service. However, the final decision in this regard will be taken after the report …

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EPFO adds 1.39 crore net members during the FY 2022-23

The provisional payroll data of EPFO released on 20th May, 2023 highlights that EPFO has added 13.40 lakh net members in the month of March, 2023. During the financial year 2022-23, around 1.39 crore net members have been added by EPFO with an increase of 13.22% compared to the previous financial year 2021-22 wherein EPFO …

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EPFO: Taxpayers now have a sufficient window to assess whether they want to opt for higher EPS

If you are a private sector employee, you have time till June 26, to opt for a higher pension under the Employees’ Pension Scheme (EPS) run by the Employees’ Provident Fund Organisation (EPFO). Although the taxpayers have a sufficient window to opt for the higher pension under EPS. But they should note that choosing the …

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EPF: Do you know what Annexure K is?

If you want to transfer your provident fund amount from an exempted to an unexempted establishment, you will need to fill the Annexure K to get the process done. Annexure K is an Employees’ Provident Fund (EPF) document that provides the members’ basic information. It covers accountholder’s total accumulations (till last employment) with interest, service …

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Latest circular from EPFO on transfer of due amount

MINISTRY OF LABOUR & EMPLOYMENT, GOVERNMENT To, All Addl. CPFCs, Zonal Offices All RPFCS/OICS, Regional Offices. Subject: Applications for Validation of Option / Joint Options – Deposit / Transfer of due contribution with interest into Pension Fund – reg. Madam/Sir, Please refer to the instructions issued vide circulars dated 29.12.2022, 05.01.2023, 25.01.2023, 20.02.2023 and 23.01.2023 …

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Schemes Offered by Employees’ Provident Fund Organisation of India

Employees’ Provident Fund (EPF) is a retirement scheme that is available to all employees working in India, subject to certain conditions. In this scheme, an employer deducts a fixed percentage of an employee’s salary, matches it with their own, and then contributes both components to an EPF account created for the employee. It is managed …

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Salient Features of Employees’ Deposit Linked Insurance (EDLI) Scheme, 1976

Salient Features of Employees’ Deposit Linked Insurance (EDLI) Scheme, 1976. EDLI Calculation The insurance amount that the heirs of a deceased member get is calculated as 35 times the average monthly salary in the last 12 months of employment. The maximum average monthly salary of an employee is capped at Rs. 15,000 So, 35 times the salary …

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PF Benefits: Know how to receive Rs 15,670 PF as monthly pension after retirement

According to the law, the Employees Provident Fund Organisation of India (also known as EFPO) is in charge of the money that both the employee and the employer put in a permanent account that is identified by a UAN, or Unique Account Number. You can evaluate your savings effectively with the aid of an EPF …

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Big Relief Higher Pension under EPS: Employees need not fork out additional 1.16% contribution

Labour Ministry has clarified that the additional contribution of 1.16 per cent of basic wages for subscribers opting for higher pension under the Employees Pension Scheme (EPS) run by EPFO would be met out of the overall 12 percent employers’ contribution This would mean that all those EPFO members who are choosing to contribute on their actual basic …

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Loan against EPF – Key summary

Loan against EPF – Key summary– The Central Government had launched Employees’ Provident Fund (EPF) which is a retirement benefit scheme maintained by the Employees’ Provident Fund Organization (EPFO). The employee and the employer contribute to the EPF scheme on monthly basis in equal proportions of 12% of the basic salary and dearness allowance as …

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EPFO: New updates! Big relief to pensioners! 15000 limit is going to be removed! Government gave information…

Pension Update: There is great news for pensioners. If you are also a government employee, then a big update regarding pension has come out. According to the new update, the pension of government employees is going to increase soon. The government is now going to increase the limit of pension. Pension News Update: There is …

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EPFO issues instruction for scrutiny of details submitted by employees and employers

The Employees Provident Fund Organisation (EPFO) has released fresh details for scrutiny of information and wage details submitted by the employee and employer for higher pension. In a circular dated 23rd April 2023, the EPFO said that the applications and joint options for higher pension will be examined by the field office. In case the …

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EPFO adds 13.96 lakh net members in the month of February, 2023

The provisional payroll data of Employees’ Provident Fund Organisation (EPFO) released today highlights that EPFO has added 13.96 lakh net members in the month of February, 2023. Out of 13.96 lakh members added during the month, around 7.38 lakh new members have come under ambit of EPFO for the first time. Among the newly joined …

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Employee Provident Fund (EPF): What are the new tax rules

“Employee Provident Fund (EPF) is India’s most popular retirement financial planning and investment choice for individual taxpayers. EPF was earlier under the Exempt taxation framework, i.e., EPF was tax-free at: Investment stage: When a contribution was made, one could claim a deduction under section 80C against the employee’s contribution upto INR 1.5 lakhs and the entire …

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All about EPF Form 10C

What is Form 10C? Whenever an employee wants to claim benefits under the employee pension scheme, they must complete the EPF Form 10C. To request the pension amount, applicants must fill out and submit the form online or offline. To get the application processed, applicants must submit a few documents along with form 10c in …

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Complete guide to EPFO forms for provident fund transactions

Form 19: To withdraw EPF balance after leaving the job. The employee fills out the form and submits it to the employer for further processing. The employer attests and submits it to the EPFO office for final settlement of the EPF balance. Form 10C: To withdraw the Employee Pension Scheme (EPS) balance linked to the EPF account. …

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Official Announcement: Central Board Trustees (CBT) EPF recommends 8.15 % rate of interest to EPF subscribers for FY2022-23

The 233rd meeting of Central Board of Trustees, EPF was held today in Delhi under the Chairmanship of Shri Bhupendra Yadav, Union Minister for Labour & Employment and Environment, Forest & Climate Change. The Vice-Chairmanship of Shri Rameshwar Teli, Union Minister of State for Labour & Employment, Petroleum & Natural Gas and Co-Vice-Chairpersonship of Ms. Arti …

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Big Update for PF interest rate fixed at 8.15% for FY 2022-23

EPF interest rate fixed at 8.15% for FY 2022-23 by EPFO: Sources The Employees Provident Fund Organisation (EPFO) has fixed the interest rate at 8.15% for financial vear 2022-23 as per the sources quoted by news agency PTI. If the expected interest rate is same as reported by the sources, then there is a hike …

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PF/EPF Withdrawal Rules 2023

Employees’ Provident Fund (abbreviated as EPF)  is a popular retirement savings scheme for all employees in India – either on a mandatory or a voluntary basis. It falls under the aegis of the Employees Provident Fund Organisation (EPFO), a statutory body. It periodically reviews the PF withdrawal rules to make the process more seamless and …

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LOK SABHA

Finance Minister’s big announcement on pension of government employees, proposal in Finance Bill

Union Finance Minister Nirmala Sitharaman introduced the Finance Bill 2023 in the Lok Sabha on Friday. During this, the opposition MPs created a ruckus regarding the Adani-Hindenburg issue. There was a demand from the MPs of the opposition parties that a JPC should be constituted regarding this matter. The Finance Bill 2023 was passed amid …

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How to get Jeevan Pramaan through Face Authentication?

EPFO Jeevan Pramaan (Life Certificate) Through Face Authentication Step 01 Use any 5 MP front camera Android Smartphone with Internet Step 02 Keep Aadhar number registered with Pension Disbursing Authority (Bank/Post Office/others) ready Step 03 Download and Install AadharFaceRd App from Google Play Store Step 04 Download and Install Jeevan Pramaan Face Application from https://jeevanpramaan.gov.in/package/download

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ईपीएफ सदस्य की पासबुक को ब्याज सहित अद्यतन करने से संबंधित अक्सर पूछे जाने वाला प्रश्न और इसका उत्तर…

ईपीएफ सदस्य की पासबुक को ब्याज सहित अद्यतन करने से संबंधित अक्सर पूछे जाने वाला प्रश्न और इसका उत्तर…

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