Employee Provident Fund
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No need to file transfer of EPF claims on job change, process to become automated from next fiscal
•This will enable the employee to get the credits of his EPF contribution during his previous tenure with old employer into his or her UAN automatically
EPFO to offer 8.65% interest to over 4 crore provident fund members; here are key highlights
Fp Staff •The Finance Ministry had last year also decided to lower the EPF interest rate of 8.8 percent for 2015-16, decided by the CBT, to 8.7 percent
Finance Ministry okays 8.65% interest rate on EPF, to benefit 4 cr members
•According to EPFO estimates, the fund will see a surplus after providing 8.65 percent interest rate for the last fiscal.
Finmin wants to cut EPF rates by 50 bps: Will it give way to better investments?
Muralidharan •The Finance Ministry has been following the cost reduction approach in the process spurning and undermining the more demanding income-enhancement approach.
EPFO: Here are 4 points govt is working on the retirement scheme to make it more subscriber friendly
Bindisha •Even taking advances from your PF corpus has been made easy, as going forward you don’t need to provide any kind of document as proof
Employee provident fund may get 8.6 per cent interest in 2016-17
•Over 4 crore EPFO subscribers may get a lower interest at a rate of 8.6 per cent on their PF deposits for current financial year as Labour Ministry is expected to toe the Finance Ministry line to cut the rate.
EPFO trustees to pay 8.75% interest on PF deposits for 2014-15
Fp Archives •The decision to retain the interest rate on the provident fund deposits at last year's level was taken despite some protest by the trade union members of the CBT
Rs 1336 crore hole: why EPFO cannot offer 9% returns
Fp Staff •According to CAG, in 2011-12 the EPFO updated their pending accounts. Due to this, it paid out Rs 1,336 crore more than what they actually had with them.
Budget 2013: A guide to how your investments are taxed
Bindisha •Simply put, these tax regimes show how your financial instrument is taxed at different stages. The letter 'E' denotes exempt and the letter 'T' for tax. The three letters simply show the three different stages of investments.
Tax planning: 9 wise ways to park your money
Fp Editors •One of the reasons why tax saving schemes are popular is that not only is the invested amount exempted from tax, but the revenues generated in some cases are also tax free subject to prescribed limits.