Will the EPFO be required to deduct tax at source or will the employee have to calculate the tax and pay it separately?
The meeting has been called as the Finance Minister P Chidambaram did not extend a March 31 deadline for the trusts to get regular tax exemption through the Employees' Provident Fund Organisation.
EPFO has recently issued Universal PF Account Numbers for 4.17 crore contributing members.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
An expert group has called for carving out two separate accounts -- PF and annuity -- in the employee provident fund scheme to meet the challenge of fund depletion in the pension scheme and introducing greater transparency for subscribers.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Tax Guru Anil Rego answers your personal income tax queries.
As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The 15% invested every month in equity would be allotted to subscribers in the form of units.
Tomar had discussed the two proposals with trade unions on June 24 and assured that the government will take at least two weeks to take a decision.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
A senior EPFO official said, "(Subhiksha) was given 15 days, starting February 20, to pay the PF dues. Since these were not paid, we will go ahead with the action and set a target to collect the dues before March 31, 2009, when the fiscal year comes to an end." The PF dues to be paid for the June-September period of 2008 were around Rs 1.46 crore. The status of Subhiksha's PF payments in other parts of the country will also be checked.
Post office savings of 1, 2 and 3 year term deposits and 5-year recurring deposit currently fetch 8.4 per cent interest per annum.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
rediffGURU Kirtan A Shah answers your personal finance queries.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
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.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The number of contributors was 46.4 million in July and 44 million in September.
It's such a well-kept secret that even well-heeled financial planners aren't aware of it, says Harsh Roongta.
In May, EPFO received deposits of Rs 6,500 crores (Rs 65 billion) which, is 200 crores more than what was received in April this year.
'The government should come back as a job creator as it did in the 1960s and the 1970s.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
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.
While financial planning is good for you, the process which a planner can put you through is not so great, observes financial planner P V Subramanyam.
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.
Business Processing Outsourcing (BPO) and Knowledge processing Outsourcing (KPO) firms are covered by the retirement fund body EPFO, Parliament was informed.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
While govt has decided to maintain status quo, don't use the money for house, marriage or education
Debt as an investment avenue for the wealthy has been attracting more assets than equity. The portfolio management service (PMS) industry, whose services require a minimum investment of Rs 50 lakh, has seen a 4.4 per cent decline in equity assets since March 2022.
Retirement fund body EPFO is planning to settle all claims like transfer and withdrawal of provident fund within three days, a move that will benefit over one crore such claimants every year.
