EPFO said the measure could substantially improve retirement outcomes with nearly half its members expected to see an increase of up to 35 times in their old-age savings.
Bandhan Bank has launched a new digital Provident Fund (PF) payment service, integrated with EPFO, allowing business customers to make statutory PF payments via the bank's internet banking platform. This service aims to streamline payments, optimise cash flows, and ensure timely compliance for businesses.
The Employees' Provident Fund Organisation (EPFO) is set to credit the 8.25 per cent interest on provident funds for FY26 to 34 crore member accounts by July 15, enabled by its new centralised IT system (CITES). This upgrade promises enhanced operational efficiency, transparent services, and easier access to PF details and claims for members.
The proposed facility seeks to simplify and speed up PF withdrawals by allowing Employees' Provident Fund Organisation (EPFO) subscribers to access up to 75 per cent of their balance through ATMs and UPI-based systems, while retaining at least 25 per cent in their accounts.
The Employees' Provident Fund Organisation (EPFO) is set to introduce UPI-linked withdrawals by the end of May, as it finalises testing for its Centralised IT Enabled System (CITES) 2.0 overhaul, aiming to streamline PF balance transfers and withdrawals.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
Millions of EPFO subscribers can now check whether 8.25% annual interest for FY2025-26 has been credited to their provident fund accounts.
The EPF should remain a retirement nest egg, not be turned into an emergency fund.
India's Code on Wages mandates strict payout deadlines, two-day full and final settlements, universal wage coverage and capped deductions to safeguard employees and enhance payroll transparency nationwide.
For members, the message is simple: don't be misled by headlines about '100% withdrawal'. The basic purpose of the EPF remains unchanged -- to help employees build a financial cushion for retirement while allowing limited access to savings for genuine needs during their working lives.
rediffGURU T S Khurana answers readers' personal income tax queries
Micro, small and medium enterprises (MSMEs) have expressed significant concerns regarding the labour ministry's recent clarifications on labour codes, citing ambiguity in wage calculation and implementation, which they argue creates interpretational and operational challenges for employers.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
EPF nominations decide inheritance -- here's what happens if you don't file.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
The Employees' Provident Fund Organisation (EPFO) will soon allow subscribers to withdraw their EPF and transfer it directly to their bank accounts through the UPI payment gateway. Testing of the facility has been completed, according to Labour Minister Mansukh Mandaviya.
rediffGURU T S Khurana answers readers' personal income tax queries
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
The Delhi High Court has directed the preservation of the assets of the late Sunjay Kapur, following concerns raised by his children regarding his purported last will.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Royal Challengers Bengaluru look the most complete side in IPL 2026 as they face an inconsistent Delhi Capitals unit still searching for form.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
A parliamentary panel has recommended an urgent review of the Rs 1,000 minimum monthly pension under the Employees' Pension Scheme, 1995, to raise it to a more realistic and dignified level, considering the rising cost of living and the financial hardships faced by pensioners.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
The Employees' Provident Fund Organisation (EPFO) board has approved liberalised part withdrawals for subscribers, allowing up to 100 per cent EPF withdrawal, and rolled out the 'Vishwas Scheme' to reduce litigation through rationalised penal damages.
While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
For MSMEs the transition could mean higher wage bills and tougher compliance -- unless strong handholding follows reports Auhona Mukherjee.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
EPFO has simplified PF withdrawals -- fewer rules, faster access, and more flexibility -- while introducing safeguards that make it harder to drain your retirement savings too early.
Let's decode how EPS works, who qualifies, and how pensions are calculated, using simple examples for different salary levels.
Your EPF isn't just a retirement pot. It's a financial safety net you can dip into for life's biggest needs. Here's how these one-time advances work and when to use them wisely.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
