The Central Bureau of Investigation (CBI) on Tuesday conducted raids on the premises of noted builders Hiranandani brothers, who have been accused of "evasion" of employees provident fund.The raids have been conducted at eight places belonging to Hiranandani brothers in the city.
In a statement, Jayalalithaa said it was unfortunate that the EPF board decided to retain the interest rate at 8.5 per cent, amidst opposition from the huge work force of the country.
Guffaw seeing these frontrunners in the Comedy Wildlife Photography Awards 2022.
The retirement fund body plans to launch 'One Employee One EPF Account' system on May 1.
Once approved by the finance ministry, the rate hike will benefit six crore EPFO subscribers.
Generally, most Indians are under-prepared for their post-retirement life. Many middle class private sector employees end up consuming their PF accumulations for variety of other reasons like marriage of their children, medical treatment or purchase of house, etc., says Anil Chopra- Group CEO & Director- Bajaj Capital
Members can register themselves on the website using any government issued photo identity card and cell no. as passwords.
Under the new provision, an EPF subscriber being a member of a co-operative or housing society with at least 10 members can withdraw up to 90 per cent from the fund for purchase of a dwelling house or flat or construction of a dwelling house and acquisition of site.
The EPFO on Friday deferred a decision on interest rate on provident fund deposits for 2010-11 following pressure from trade unions that want rates to be raised to 9.5-10.5 per cent from 8.5 per cent.
The Left parties, however, opposed the privatisation of the Delhi and Mumbai airports.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Over 50 million subscribers of the retirement fund body EPFO can obtain e-passbook along with details of their updated accounts online from Wednesday.
Meet a Mumbai couple whose hearts are so big that they emptied out their entire savings to help feed the poor and needy during the COVID-19 pandemic.
The Pension Fund Regulatory and Development Authority will consider a proposal to manage the pension funds of companies at its board meeting on Wednesday, extending its role from being manager of individual pension plans.
The Left parties on Tuesday lashed out at the UPA government equating it with the previous NDA regime for reducing the EPF interest rate and demanded reconsideration of the decision.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Around 61 million subscribers of the Employees Provident Fund Organisation (EPFO) are likely to get lower returns on their deposits this year.
A consensus eluded the Central Board of Trustees on the controversial issue of interest rates for 3 crore (30 million) provident fund subscribers amid indications that the board would take up the matter next month.
The EPFO Board will for the third time meet in New Delhi on Tuesday to decide on the interest to be offered to its three crore subscribers this year, even as trade unions' demand higher returns.
The finance and investment committee of the EPFO, which met this morning, unanimously rejected the proposal for parking up to 15 per cent of its funds totalling around Rs 1,82,000 crore (Rs 1,820 billion) into shares of listed companies as also equity linked schemes of mutual funds. The committee, sources said, was opposed to the proposal of the finance ministry in view of the volatility witnessed in the stock markets in the recent past.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your mutual fund queries.
A health care savings fund must be introduced for all salaried employees similar to the PF scheme and it should be tax deductible.
In a bid to take forward labour reforms, the government on Thursday said units in the special economic zones will be exempted from making contributions to Employees Provident Fund and Employees State Insurance for five years.
Oil and Natural Gas Corporation, Indian Oil Corporation, Bharat Heavy Electricals Ltd, HMT and Maruti Udyog Ltd are among the corporates that defaulted in remitting their provident fund share to the Employees Provident Fund Organisation
Leading private financial players HSBC and ICICI Prudential along with country's largest bank SBI have been shortlisted to manage about Rs 25,000 crore (Rs 250 billion) in provident fund of about four crore employees annually.
EPFO's advisory body FIC on Thursday shortlisted five entities --ICICI Securities, Reliance Capital, HSBC Asset Management Company, SBI and ICICI Prudential -- for managing its corpus of Rs 3.5 lakh crore (Rs 3.5 trillion).
"We should encourage greater outward investment by provident funds and insurance companies when inflows are high. Such diversification will make these funds more stable (give them less exposure to high volatility India markets)," said the draft report of the the Committee on Financial Sector Reforms, headed by former IMF Chief Economist Raghuram G Rajan.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The approval is in addition to the existing scheme for the wage months of March to May, 2020 approved on April 15, 2020. The total estimated expenditure is Rs 4,860 crore and over 72 lakh employees in 3.67 lakh establishments will be benefitted.
For professionals, new pension scheme gives an equity booster but does not guarantee returns, comes at a cost.
The Employees Provident Fund Organisation's apex decision making body, the Central Board of Trustee on February 25 had decided to pay 8.5 per cent rate of interest to subscribers for 2012-13.
Otherwise, EPFO can freeze your account. But seek detailed calculation to verify the numbers
