Confusion on EPF due to bad phrasing in Budget speech: Union Revenue Secretary Hasmukh Adhia Union Revenue Secretary Hasmukh Adhia today defended the proposal to tax Employee’s Provident Fund withdrawals, saying the intention was only to encourage investment in pension schemes, but the phrasing in the Budget speech caused the confusion. “The entire thing happened not … [Read more...] about Confusion on EPF due to bad phrasing in Budget speech: Union Revenue Secretary Hasmukh Adhia
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Employees Provident Fund
Employees can withdraw EPF money without employers permission
Now, employees can withdraw EPF money without employers’ permit Employees can avail the benefit if details such as Aadhaar number and bank account number have been linked to the EPF UAN and their KYC verification has been done by the employer New Delhi: Employees will no longer need the approval of their employers to withdraw money from their Employees Provident Fund (EPF) … [Read more...] about Employees can withdraw EPF money without employers permission
Coverage of all construction workers under the ambit of Employees Provident Funds and Misc. Provisions Act, 1952
Centre move to bring all construction workers under EPFO The Additional Provident Fund Commissioner has sent a circular to all regional PF offices instructing them that senior officials should visit construction spots, including roads, bridges, pipeline, railway line, buildings and enroll the workers for the benefit of the scheme. EMPLOYEES' PROVIDENT FUND … [Read more...] about Coverage of all construction workers under the ambit of Employees Provident Funds and Misc. Provisions Act, 1952
Premature Provident Fund withdrawal – Income tax will be imposed
Premature Provident Fund withdrawal – Income tax will be imposed Income Tax for Premature Provident Fund withdrawal of more than Rs.30,000 The Government has announced that income tax will be imposed if, at the time of premature withdrawal, the Provident Fund amount is in excess of Rs.30,000. Finance Minister brought a new provision in his budget that allows for TDS on … [Read more...] about Premature Provident Fund withdrawal – Income tax will be imposed
NPS is more beneficial than EPF
NPS is more beneficial than EPF Is NPS better than EPF? The NPS is more complicated than EPF, but it may ensure a sufficient retirement kitty If there’s one investment option that has received generous tax breaks in the Budget, it is the National Pension System (NPS). In a watershed move, the Finance Minister has also announced that employees in the organised sector … [Read more...] about NPS is more beneficial than EPF
Employees Under the Employees Provident Fund(EPF) to be Provided two Options
Employees Under the Employees Provident Fund(EPF) to be Provided two Options The Union Finance Minister Shri Arun Jaitley has announced that with respect to Employees Provident Fund (EPF), the employee needs to be provided two options. Firstly, the employee may opt for EPF or the New Pension Scheme (NPS). Secondly, for employees below a certain threshold of monthly income, … [Read more...] about Employees Under the Employees Provident Fund(EPF) to be Provided two Options
EPFO Pension Scheme: Age Limit May Be Raised
EPFO Pension Scheme: Age Limit May Be Raised New Delhi: The Employees' Provident Fund Organisation's trustees in a meeting on Thursday will consider a proposal to raise the age limit from 58 to 60 years for vesting of pension under the Employees' Pension Scheme (EPS-95). At present, a formal sector worker covered under the EPS-95 can make contributions towards the pension … [Read more...] about EPFO Pension Scheme: Age Limit May Be Raised
Whether the Ministry has implemented the decision to increase the minimum Employees Provident Fund (EPF) Pensions?
Whether the Ministry has implemented the decision to increase the minimum Employees Provident Fund (EPF) Pensions? GOVERNMENT OF INDIA MINISTRY OF LABOUR AND EMPLOYMENT RAJYA SABHA UNSTARRED QUESTION NO-1183 ANSWERED ON-03.12.2014 Minimum EPF Pension 1183 . SHRI P. RAJEEVE Will the Minister of LABOUR AND EMPLOYMENT be pleased to state: (a)whether the Ministry has … [Read more...] about Whether the Ministry has implemented the decision to increase the minimum Employees Provident Fund (EPF) Pensions?
Launching of Minimum Pension Scheme (Rs.1000) across 120 locations in India
Labour Minister Shri Tomar announces launch of Minimum Pension Scheme across 120 locations in India 37 Union Ministers to felicitate pensioners on September 30 The Union Minister of Labour & Employment, Steel and Mines, Shri Narendra Singh Tomar announced the launch of a guaranteed minimum pension of Rs 1000 per month under Employees’ Pension Scheme, 1995. Speaking to … [Read more...] about Launching of Minimum Pension Scheme (Rs.1000) across 120 locations in India
EPFO trustees may decide on 8.5% interest rate today i.e. 13th Jan, 2014
EPFO trustees may decide on 8.5% interest rate today i.e. 13th Jan, 2014 The meeting is being held nearly a year after the last in February 2013. “There are 38 items on the agenda, including approval of the annual report, as the meeting is taking place after so long,“ said a CBT member, adding that after the board’s reconstitution in May 2013, it was meeting only … [Read more...] about EPFO trustees may decide on 8.5% interest rate today i.e. 13th Jan, 2014
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