Over 50 million subscribers of the retirement fund body EPFO will be able to apply online for transfer and withdrawal of their provident fund from July 1, a move aimed at speedy settlement of claims.
The Union labour ministry has said that it can invest part of the Rs 5 lakh crore (Rs 5 trillion) provident fund corpus in the stock market provided the finance ministry guarantees safety of the workers' money.
The government has announced that an interim investment pattern would be notified for funds collected under the New Pension Scheme to allow 5 per cent investment of the corpus in stock markets.
Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected to manage Rs 60,000 crore (Rs 600 billion) provident fund corpus of coal industry workers.
The EPF board will meet on Wednesday to take a firm view on the interest rate for its 4 crore (40 million) subscribers during 2005-06, even as trade unions are demanding Prime Minister's intervention to retain 9.5 per cent.
'A subscriber will know exactly how much of his money is in debt and how much in equity.'
43-year-old Ashutosh Astana, who has been in jail since his arrest in January last year, was found unconscious in this cell at around 1400 hrs , Jail Superintendent V K Singh told PTI. "He was sweating a lot and was rushed to the district MMG government hospital but doctors there declared him brought dead," Singh said, adding the exact reason of his death is yet to be ascertained.
Tax Guru Anil Rego answers your personal income tax queries.
When the state is unable to provide adequately for the bottom half of the population, should it be giving tax benefits to the well-off?
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
The argument put forth is that withdrawals from a long-term investment avenue leave investors with a lower corpus on retirement.
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.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
In a bid to earn higher return for its 40 million subscribers, the country's biggest provident fund EPFO is exploring the possibility of investing a small portion of its assets in equities.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
EFPO launched a number of new facilities this year.
Harshal Chandorkar of CIBIL answered queries on credit report and in an online chat with Get Ahead readers on october 28.
Expatriates working in India and some Indians working abroad for an Indian employer are required to make mandatory contributions to the Indian government's statutory provident fund.
Over 10 lakh workers who quit or lost jobs so far this fiscal got a major relief on Monday with the government taking a decision to pay 8.5 per cent interest on employees provident fund.
Over five crore provident fund subscribers governed by the EPFO will get 8.75 per cent interest on their deposits for the current fiscal.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
A sub-committee of the country's biggest provident fund, EPFO, is believed to have recommended slashing of interest rates to 8% for its 3 crore subscribers, even as some trade unions pitched for hiking the rate to 12%.
From taxation of EPF contributions to new wage code, life won't be the same in FY22.
It wants PF to be calculated on all other allowances made by employer under sundry heads.
The Union Labour Minister Sahib Singh Verma said on Friday that he would soon make public the names and other details of the major provident fund defaulters.
The government on Thursday ruled out any cut in interest rates on Employees' Provident Fund this fiscal from the present 9.5 per cent, but said it would be reviewed only next fiscal based on the surplus position, Labour Minister Sahib Singh Verma
Retirement fund body EPFO's apex decision making body Central Board of Trustees (CBT) is likely to decide rate of interest on PF deposits for 2012-13 in its meeting scheduled on January 15.
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While it is suggested that withdrawals and loans against long-term instruments are not the wisest steps, if you really need to do so, here are a few options. . .
In the latest draft of the Code on Social Security Bill, 2019, the government has decided to stick to the current thresholds for providing social security benefits to workers by industry.
The EPFO is likely to decide soon the rate of interest on PF deposits for 2013-14, which is expected to be over 8.5 per cent.
