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.
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.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
rediffGURU T S Khurana answers readers' personal income tax queries
The filing of online provident fund accounts transfer claims on changing jobs for subscribers of the retirement fund body EPFO has become a reality now.
Retirement fund body EPFO is all set to start online transfer of provident fund accounts in the first fortnight of October, a move that will benefit over 13 lakh applicants every year.
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.
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.
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.
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.
PF is a long-term investment tool for funding your retirement. It should not be used as a short-term funding source each time you shift jobs. You lose out on the power of compounding to build the corpus.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
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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 T S Khurana answers readers' personal income tax 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.
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.
The decision will benefit over nine crore such account holders having total deposit of around Rs 32,000 crore.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The Central Bureau of Investigation has arrested a man for allegedly altering Aadhaar card details to withdraw Provident Funds of unsuspecting persons through online claims, officials said on Monday.
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rediffGURU Yogendra Arora answers readers' personal income tax queries.
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Members can register themselves on the website using any government issued photo identity card and cell no. as passwords.
Over 50 million subscribers of the retirement fund body EPFO can obtain e-passbook along with details of their updated accounts online from Wednesday.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
At present this facility is available to workers of (un-exempted) firms which do not have their PF trusts and manage their employees' accounts with their respective regional fund commissioners of the EPFO. It was launched in October last year.
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While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
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.
The organised sector workers covered under private PF trusts, which manage their employees' retirement fund themselves, will be able to transfer their PF accounts online from July this year.
The facility for viewing PF accounts online was launched here by Labour Minister Sis Ram Ola in the presence of Minister of State for Labour and Employment Kodikunnil Suresh and EPFO's Central Provident Fund Commissioner K K Jalan.
