The government will notify categories of employees who will be excluded from the controversial tax proposal on provident fund withdrawals.
The government on Tuesday said PPF will not be taxed on withdrawal and only the interest accrued on contributions to employee provident fund made after April 1 will be taxed.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
Here's how EPF stacks against other investment options
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries
Investors must explore alternate avenues like mutual funds and pension plans for building a retirement corpus.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
Ahead of the crucial EPF board meeting on Tuesday, the central trade unions have demanded restoration of 12 per cent interest to provident fund subscribers.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
If your account is idle for over five years, there could be issues with acquiring EPF details.
Remember, pension from EPS will be taxable at slab rate, reducing the post-tax income for people who remain in the higher tax brackets after retirement.
EPFO has an ambitious plan to settle the claims within few hours after filing of application
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
For longer tenure products, they offer higher returns compared to other instruments. But for shorter tenures, things are getting tighter for investors.
The 40 per cent exemption benefit is applicable only for employees.
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.
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).
The Central Board of Trustees on Wednesday deferred the decision on the interest rate for 3 crore (30 million) subscribers of the Employees Provident Fund.
This is 1 per cent higher than the interim rate of 8.5 per cent announced for 2004-05.
The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its two-day meeting beginning Monday. EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21 in March 2022. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
EPF is the major vehicle for the long-term savings of organised private sector employees.
At present, deposits, accrual of interest and withdrawals are tax free under the scheme.
Tax Guru Anil Rego answers your personal income tax queries.
FM's proposal came under immediate attack from various employees unions
Here's what you MUST know to check your Employees' Provident Fund balance and status online.
EPFO has allotted Universal Account Number (UAN) for portability and consolidation of all previous accounts.
Let us look at this scheme a little more in detail.
The Union finance ministry has rejected a proposal sent by the labour ministry to double the monthly minimum pension amount to Rs 2,000 under the Employee Pension Scheme (EPS). The Central Board of Trustees (CBT), the apex decision-making body of the Employee Provident Fund Organisation (EPFO), was apprised of the proposal's rejection during a meeting on Saturday. "According to the recommendations made by a highly-empowered monitoring committee constituted by the government, a proposal to increase the minimum pension under EPS from Rs 1,000 to Rs 2,000 per month, by providing additional budgetary support, was sent to the ministry of finance.
Since the imposition of lockdown on March 25 by the government to contain the COVID-19 spread, businesses have been facing liquidity or cash crunch, leading to difficulties in paying their mandatory provident fund dues.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Pawan Kumar, organising secretary of the Bharatiya Mazdoor Sangh (BMS) affiliated to the Rashtriya Swayamsevak Sangh (RSS), tells Aditi Phadnis it will join forces with other trade unions if necessary to oppose the Employees' Provident Fund Organisation (EPFO) provisions in the Union Budget.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
Don't solely focus on tax-saving alone.
The EPFO has about 3.7 crore (37 million) members.
A decision on the interest rate for close to 60 million active subscribers of the Employee Provident Fund Organisation (EPFO) is likely to be taken in the next Central Board of Trustee (CBT) meeting, starting on March 25. A letter from the social security organisation regarding the convening of the 233rd CBT meeting was sent to all the board members last week, soliciting their presence in the meeting. Although the venue and the agenda haven't been drawn out yet, sources familiar with the matter say that the interest rate is unlikely to go below 8 per cent level amid a rising interest rate scenario across the globe.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances