The finance ministry (FinMin) has asked Infosys to work on ways to extract and access taxpayers' real-time data faster and accurately as it is crucial for taking decisions on policy changes. While reviewing progress of the income tax portal 2.0, which had faced glitches, the officials also told the Infosys team to increase the scope of pre-filled data in the ITR forms. Senior officials in the ministry held a review meeting last month with the Infosys team and officials of the Central Processing Centre (CPC).
The government is likely to take a 'favourable' decision on enhancing the interest rate on Employees Provident Fund and the ministries of labour and finance are holding discussions on how to mobilise resources for it, Lok Sabha was informed on Monday
As long as a provident fund continues to be exempt from tax at all stages, it is the best option to build a retirement corpus.
Indicating a faster-than-expected recovery, remittances from migrant labourers and the number of first-time EPFO registrations have crossed the pre-lockdown levels in September, according to a report. Another silver lining is the massive 60 per cent increase in the number of Jan Dhan accounts to over 41 crore and the balances in them, which also indicate the fall in crimes during the lockdown months, SBI Research said in a report on Tuesday. After a significant reduction in remittances due to the lockdown in April, it improved in June and July, and the numbers in September have crossed the pre-pandemic level in February.
The crucial meeting of the Central Board of Trustees will be held in New Delhi on Saturday to decide on the interest rate on Employees Provident Fund
While govt has decided to maintain status quo, don't use the money for house, marriage or education
Arun Jaitley presented the Union Budget in Parliament on Saturday.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
EPF subscribers whose accounts have not been credited with deducted money can complain to EPFO or labour ministry.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
If the government decides to go back to the old regime where the EPF was not taxed but the NPS was, the latter will become an unattractive product.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
Ussue will be raised at the meeting of the Central Board of Trustees of the Employees Provident Fund Organisation on Tuesday.
It helps in getting excellent monthly pensions
Suresh said the ministry had received several representations from the EPF pensioners Association, pointing to the meagre pension amount, which in some cases was about Rs 50 to Rs 300.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Every month your salary slip features a deduction towards your Provident Fund (also known as Employees Provident Fund or EPF in short). How often have you wondered if such a contribution is actually beneficial to you and if it is actually needed? What if you quit or switch over jobs? Here's explaining the benefits EPF carries and why one should pay attention to this contribution.
In what could bring down home loan rates, the Employees Provident Fund board is toying with the idea of investing in mortgage-backed securities as part of its multi-pronged strategy to raise returns on its assets.
The government has agreed to restore the employee provident fund interest rate to 9.5 per cent from the present interim 8.5 per cent for this fiscal before the next Budget, Communist Party of India MP Gurudas Dasgupta claimed on Thursday.
Amidst reports of a cut in interest rate on Employees Provident Fund, Labour Minister Sis Ram Ola on Thursday said he will meet Finance Minister P Chidambaram to decide on the returns for the over 32 million subscribers for this year.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
The Communist Party of India-Marxist on Wednesday said the inclusion of Anil Ambani-led Reliance Capital as one of the managers of Employees Provident Fund was an indication of the 'cost' the United Progressive Alliance paid for ensuring support for the government.
Despite the equity booster, many would be uncomfortable about NPS.
A panel set up by the trustees of India's largest pension fund has recommended an interest rate of between 8.0 and 9.0 per cent for the Employees Pension Fund scheme in 2003-04, a member of the panel said on Thursday.
Did you know that your EPF contribution also goes towards insuring you, giving you and your spouse a pension apart from giving you a lump sum amount after retirement?
The government has decided to lower interest rates on its general provident fund and special deposit schemes by 100 basis points
The government on Thursday assured that it will continue with the 9.5 per cent interest on Employees Provident Fund and said it was because of 'wise' investment decisions that it was able to offer such a rate.
Companies with 10 employees may also come under EPF Act.
Retirement fund body EPFO net added 14.81 lakh subscribers in August 2021, reflecting a growing trend in net payroll for the first five months of this fiscal. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Wednesday highlights that it added around 14.81 lakh net subscribers during the month of August 2021, a labour ministry statement said. The data reflects a growing trend in net payroll for the first five months of the current financial year, it added.
On retirement, you will draw a lesser amount as pension.
