Arun Jaitley presented the Union Budget in Parliament on Saturday.
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.
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.
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
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
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.
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.
Net job creation in the economy fell by 16.9 lakh in FY21 over the previous fiscal, shows an SBI Research analysis of EPFO payroll data. However, the FY21 numbers are better than the FY20 net job creation, which had declined by 28.9 lakh, further cementing the view that the economy is not creating new employment opportunities. The latest EPFO data shows that net new EPF subscribers stood at 94.5 lakh in FY21, and NPS added 5.82 lakh, taking the cumulative net addition to 100.4 lakh, which is marginally down from 102.3 lakh in FY20.
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
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.
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?
Despite the equity booster, many would be uncomfortable about NPS.
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.
On retirement, you will draw a lesser amount as pension.
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.
Companies with 10 employees may also come under EPF Act.
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.
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.
Thanks to Nagpal's effort to point out the calculation errors, EPFO managed to spot some additional resources to increase the interest rate.
The CBT headed by Union labour minister would meet on September 4.
Withdrawing the amount each time you move job(s), or otherwise, can make a huge dent in your retirement corpus.
The failure of the government to decide on the interest rate for provident fund is likely to hit around two million subscribers.
When the sun rises in 2022, the Indian hospitality industry will be waking up with prayers for survival, desperately looking forward to some form of support from the government as revival from the impact of the coronavirus pandemic of the last two years will be an arduous journey. Just as the industry was beginning to see a flickering light at the end of a long tunnel towards the end of 2021, the spread of the Omicron variant of coronavirus and subsequent extension of suspension of scheduled international passenger flights till January 31, 2022, has come as a dampener to those who were looking to have some business in the winter season. With inbound tourist arrivals unlikely amidst the pandemic, the industry wants the government to incentivise domestic travels with income tax benefits for a limited period so as to help the hospitality and tourism sector get up again by tapping the pent up demand for holidays, within the country.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
For longer tenure products, they offer higher returns compared to other instruments. But for shorter tenures, things are getting tighter for investors.
Working hours cannot go beyond 48. Those who give a four-day week will have to provide three consecutive holidays after that.
Religious institutions and charitable trusts employing 20 workers or more will have to deposit employees' provident fund with the EPFO.
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