EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
Who pays what into EPF, EPS, and EDLI -- the 12% math explained.
While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
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.
EPF nominations decide inheritance -- here's what happens if you don't file.
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.
The most common mistake is investing without assessing suitability and long-term implications.
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 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.
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.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
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.
As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
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.
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.
'We deposited money just yesterday, but they did not say anything...'
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
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.
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.
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.
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).
EPFO manages a huge corpus of over Rs 6 lakh crore (Rs 6 trillion).
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.
The much-awaited minimum monthly pension of Rs 1,000 and a higher wage ceiling of Rs 15,000 for social security schemes run by retirement fund manager EPFO will be implemented from September 1.
ELSS investments require a long-term commitment of at least seven years.
EPFO manages a corpus of over Rs 8.5 lakh crore and its subscribers' base is over five crore at present.
Don't solely focus on tax-saving alone.
Naval Goel explains all that you wanted to know about life insurance but didn't know who to ask
A quick snapshot about the fundamentals of the concept of life insurance.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
Retirement fund body EPFO's trustees on February 5 will decide on amending its scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit its 27 lakh pensioners.
Tax deductions and prioritising their sequence will help you streamline your investments for efficient tax saving.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The decision will benefit over nine crore such account holders having total deposit of around Rs 32,000 crore.
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.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
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