Provident Fund

Fund paid 8.1% interest rate to subscribers in 2021-22, marking a four-decade low

Not enough to meet rising inflation, say some quarters; EPFO likely to distribute Rs 90,000 cr to members' accounts, on a total principal amount of Rs 11 trn

Earlier, in March 2022, EPFO had lowered the interest on EPF to over a four-decade low of 8.1% from 8.5% in 2020-21

The employer and the employees will have to jointly request the EPFO to deduct 8.33% from a higher basic salary and will be able to accumulate more money towards pension

Amongst the newer assets, PFRDA has invested around Rs 1,100 crore in REITs and InvITs, accumulating better returns than all other categories

Fresh challenge for reviving Jet as union opposes sale of assets until employees get provident fund and gratuity

The ceiling was last revised in 2014 from Rs 6,500 per month to Rs 15,000 and is applicable only to enterprises that have more than 20 workers

At present, EPFO is allowed to invest between 5-15 per cent of its investible deposits in equity instruments irrespective of the age or risk profile of its members

Any EPF pensioner can get the PPO number using either the bank account number or PF number

Of every Rs 100 AUM of top 10 fund houses, ETFs and index funds accounted for Rs 14 in the first quarter of FY23

With the new offices in other continents, the organisation is aiming to help the smaller countries in the region to develop their own social security

Apart from creating a distinction between financial creditors and operational creditors, the latest Supreme Court judgment also leads to the creation of a new category of default - temporary default

How has EPFO's equity investment experience been?

From investing in traditional instruments, the Employees' Provident Fund Organisation (EPFO) has been exploring the virtues of markets for a while now. Is the statutory body's move bearing fruits now?

The changes under the new wage code can only be implemented across the country once the centre receives draft guidelines from all the states and UTs

Investors who want to avoid their long lock-in can choose from a host of other high credit quality options

Out of the total 17.08 lakh subscribers added during the month of April, around 9.23 lakh new members have come under the social security cover of EPF and MP Act, 1952, for the first time.

There is no deadline for filing e-nomination and it isn't mandatory for filing advance claims; but it speeds up online claim settlement by nominees

The current EPF interest rate is 8.1%

How changes in EPF rules may affect you?

Parking money into the govt's retirement fund has become less attractive. After effecting interest rate cut, the EPFO is now levying TDS on interest earned on contributions above Rs 2.5 lakh

If EPF account is linked to PAN, 10% TDS rate will apply, else 20%