EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
Two senior Bihar government officers are under investigation after the Economic Offences Unit (EOU) discovered property documents, cash deposits, and valuable items allegedly disproportionate to their known income.
Who pays what into EPF, EPS, and EDLI -- the 12% math explained.
In the rush to complete tax-saving investments at the end of the financial year, many taxpayers choose instruments that do not match their long-term financial goals.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Use these loans to meet emergency needs, and not to fund holidays or luxury purchases.
EPF nominations decide inheritance -- here's what happens if you don't file.
The most common mistake is investing without assessing suitability and long-term implications.
Subscribers of the retirement fund body EPFO may soon be able to withdraw claim amounts from their accounts through ATMs, a top official said. Union Labour Secretary Sumita Dawra has reportedly said that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce.
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
The government has increased the existing limit of the Employees Deposit Linked Insurance (EDLI) amount from Rs 60,000 to Rs 1 lakh. The amount will be paid to the next of kin of an employee in case of his death.
The rider could be attached to any of the existing group insurance polices under employer-employee groups -- group insurance, employees deposit link insurance, group gratuity and group leave encashment scheme -- on their scheme renewal date, LIC of India Chairman T S Vijayan told reporters at the launch function in Chennai.
'The tragedy underscored 'serious and widespread' weaknesses in the EPFO's monitoring system and its ability to detect and act against defaulting establishments.'
The government on Saturday announced a string of measures, including a pension for dependents of those having lost their lives due to COVID-19, among other benefits for the families who lost their earning members to the pandemic.
'Having a separate healthcare corpus is extremely important even for those already covered by health insurance.'
The government has reduced the stipulated period for settlement of various claims like PF withdrawal, pension and insurance by the retirement fund body EPFO to 20 days from the existing 30 days.
Employees joining companies after August and availing of the government benefits under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) will also have to link their PF accounts with Aadhaar numbers.
EPFO fund body EPFO is likely to increase the maximum amount assured under its Employees' Deposit Linked Insurance Scheme (EDLI) to Rs 550,000 from the existing Rs 360,000.
Banks offer a wide range of group insurance plans -- personal accident, health, hospital cash, home insurance, credit protection, and critical illness.
Retirement fund body EPFO on Monday is likely to retain 8.5 per cent interest on PF deposits for its over 5 crore subscribers in 2013-14.
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
In a bid to enhance its equity exposure and earn higher returns for its nearly 65 million subscribers, the Employees' Provident Fund Organisation (EPFO) is considering reinvesting 50 per cent of its exchange-traded funds (ETFs) redemption proceeds back into equity. Sources close to the development said a proposal regarding this was discussed in the investment committee (IC) meeting in October last year, and the recommendation has been sent to the Central Board of Trustees (CBT), the apex decision-making body of the EPFO for its approval. The next CBT meeting is scheduled to be held on Saturday.
A quick snapshot about the fundamentals of the concept of life insurance.
As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
Naval Goel explains all that you wanted to know about life insurance but didn't know who to ask
Part of the dues has been pending since 1995-96 - the inception year of the Employees' Pension Scheme administered by the EPFO. The Centre also owes the EPFO more than Rs 1,000 crore towards the minimum pension scheme it had notified in September 2014.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
Don't solely focus on tax-saving alone.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
The government is working to provide healthcare schemes to poor people under the Jan Dhan initiative.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
EPFO manages a corpus of over Rs 8.5 lakh crore and its subscribers' base is over five crore at present.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
In a public notice, the Securities and Exchange Board of India observed that some companies or entities are illegally mobilising funds from the public by making false promises of exorbitant rates of return under various schemes.
ELSS investments require a long-term commitment of at least seven years.
EPFO manages a huge corpus of over Rs 6 lakh crore (Rs 6 trillion).
Individuals could soon lose tax benefits available on fixed deposits with an over five-year term once the direct taxes code comes into force from April 2011.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
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