Good news for employees. A high-level committee has proposed to increase the salary limit under the Employees’ Provident Fund Organization (EPFO). The committee has said that the salary limit should be increased from the existing Rs 15,000 to Rs 21,000 per month. The committee says that the government is considering it and it can be …
The Employees’ Provident Fund Organisation rolled out new norms for taxation and deductions on the employees’ retirement accounts. The statutory body directed that tax deducted at source (TDS) will be levied on the date of the credit of interest on PF accounts if they are not in final settlement or transfers. The body introduced a …
PF Account-PAN linking can save TDS, Details here Read More »
The Central Government had launched Employees’ Pension Scheme, 1995 in exercise of the powers conferred by Section 6A of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952). The EPS’95 scheme applies to all the employees of factories and other establishments to which the Employees Provident Funds and Miscellaneous Provisions Act, 1952 …
Tax on PF account From April 1, the existing PF account can be divided into two parts, which will also be taxed. According to the rules, there will be no tax on contribution up to Rs 2.5 lakh in PF account. Interest earned on contributions above this will be taxed. GST e-Invoicing The Central Board …
These Eight Rules Changing From April Will Have Direct Impact On Your Pocket Read More »
The biggest changes that are going to happen from April 1, 2022, the most important is the tax on PF account. Actually, the Central Board of Direct Taxes (CBDT) has decided to implement the Income-tax (25th Amendment) Rule 2021. That is, a cap of tax free contribution up to Rs 2.5 lakh is being imposed …
The Employees’ Provident Fund Organisation (EPFO) earlier this month announced an interest rate of 8.1% on EPF or employee provident fund accumulations in members’ accounts for the 2021-22 fiscal, down from 8.5% in the previous year. The interest on EPF was fully tax free in the hands of provident fund contributors till changes were introduced …
EPFO tweeted, ‘If an EPF member wants to change the existing EPF or EPS nomination, then he can file a new nomination. The new EPF or EPS enrollment will supersede the previous enrollment. How to Change PF Enrollment To file e-nomination for PF account, EPF members need to visit http://www.epfindia.gov.in. There visit the ‘Services’ section …
Want To Change Nomination in EPF/ EPF Account? Follow This Easy Way Read More »
A pension of Rs 1,000 is not enough for the subscribers of Employees’ Provident Fund Organization (EPFO). It needs to be increased. A committee of Parliament on Tuesday said that giving Rs 1,000 as minimum monthly pension to subscribers under EPFO’s pension scheme is too low. In such a situation, it is necessary that the …
Pension Of Rs 1000 is Not Enough For EPFO Subscribers: Parliament’s Committee Read More »
The two-day meeting of the Central Board of Trustees (CBT) of Employees’ Provident Fund Organization (EPFO) began in Guwahati on Friday. A major decision has been taken on Saturday after a thorough deliberation in the meeting. The interest rate on deposits in EPF has been changed and it has been reduced from 8.5 to 8.1 …
Income From PF Contribution Above Rs 2.5 Lakh Limit to be Taxable From April 1 Union Government has now changed the income tax laws and will be implementing a new one starting from 1st of April. The new income tax rule will include a threshold limit of Rs. 2.5 lakh on tax free contributions for …
New Tax Rule for PF: Income From PF Contribution Above Rs 2.5 Lakh Limit to be Taxable Read More »
EPFO members should file e-nomination for EPS to provide Social Security to their families. The scheme is provided by the Employees’ Provident Fund Organisation (EPFO) and ensures that employees receive a pension once they attain the age of 58 years old. Latest Update: EPFOin a tweet has said that the account holders will be able …
The Central Government had launched Employees’ Pension Scheme, 1995 in exercise of the powers conferred by Section 6A of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952). The EPS’95 scheme applies to all the employees of factories and other establishments to which the Employees Provident Funds and Miscellaneous Provisions Act, 1952 …
Employees Pension Scheme (EPS) 1995, ELIGIBILITY & ITS BENEFITS Read More »
One small mistake and your hard earned money can get stuck. This is often the case with EPF. Due to non-updation of KYC in the year 2021, there were problems in transferring interest money to more than 60 lakh EPF accounts. In any such situation, you will not be able to withdraw EPF money. Therefore, …
Is Your DOB Wrong in EPF Records? Now Update Sitting At Home! Read More »
Sub:- Mandatory activation of Multi-Factor Authentication-Req. Sir/Madarn, It is informed that, with immediate effect, installation of 2 Factor Authentication (2FA) has been made mandatory by NIC for using the email id on “@epfindia.gov.in” domain. All users availing the email services from NIC (i.e. @epfindia.gov.in) need to use 2 Factor Authentication (2FA) to access their email …
EPFO Issue Info for Mandatory activation of Multi-Factor Authentication Read More »
Sub:- Mandatory activation of Multi-Factor Authentication-Req. Sir/Madarn, It is informed that, with immediate effect, installation of 2 Factor Authentication (2FA) has been made mandatory by NIC for using the email id on “@epfindia.gov.in” domain. All users availing the email services from NIC (i.e. @epfindia.gov.in) need to use 2 Factor Authentication (2FA) to access their email …
EPFO Issue Important Circular for Mandatory activation of Multi-Factor Authentication Read More »
Employees’ Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued circular No. WSU/15(1)2019/ATR/529 dated 15th June, 2021 regarding Mandatory seeding of Aadhar Number for filing of ECR-Reg. in order to provide relief amid the COVID-19 pandemic.to to PF Account holders. Relaxation: EPFO has extended the last date to seed …
Important news for EPFO subscribers. The organization has changed a rule, which can be difficult for the employed. Actually, the organization has made it necessary to link the Universal Account Number (UAN) of the PF account with the Aadhaar card. For this, EPFO has made changes in section 142 of the Social Security Code 2020. …
EPFO changed this important rule, update the account as soon as possible. Know Process Read More »
An investment fund where contribution is by employees, employers, and (sometimes) the state, out of which a lump sum is provided to each employee on retirement as their retirement benefit. Let us analyses the change in situation in Budget 2021. Provident fund after Covid-19 has left many employees in problems due to introduction of tax …
Labour and Employment Minister Santosh Kumar Gangwar on Thursday launched Software Applications and instruction manuals with questionnaires for five All India Surveys on Labour.The five All India surveys on migrant workers, domestic workers, employment generated by professionals and the transport sector have a tremendous role to play at national level by providing data on the …
Apps and instruction manuals for 5 All India Surveys on Labour launched Read More »
Union Cabinet has approved Atmanirbhar Bharat Rojgar Yojana at an expenditure of Rs 1,584 crore for the current financial year. An amount of Rs 20,810 crore has been approved for the entire Scheme period 2020-2023. Under the scheme, the government will provide subsidy for two years in respect of new employees engaged on or after …
Union Cabinet approves Atmanirbhar Bharat Rojgar Yojana Read More »
Jeevan Pramaan Patra submission date extended by EPFO till Feb 28,2021