Epf Deposits

EPFO sees over 1 million new subscribers for fourth straight month

Though fresh additions slip sequentially in July, women enrolment at a record high

Lacking discipline to stay invested? Retirement funds are a good option

Others should invest in pure equity and debt funds, or go for EPF and NPS

Huge spike in EPF payrolls throws up debate on formalisation of the economy

While 2020-21 may not be the right year to compare with due to Covid, net payroll data in each of April, May and June exceeded average monthly figure since the data began to be compiled for Sept 2017

Formalisation of economy picks up pace in June, spike in EPF subscribers

June had 1,283,448 EPF subscribers on a net basis, the highest in first three months of current fiscal and higher than average monthly figure of past three years

Rs 20-trn package: Govt reduces EPF contribution for companies for 3 months

At present, 24 per cent of a worker's basic pay is deducted - with 12 per cent each counted as employer's and employee's share - towards the EPF savings

Claiming advance EPF is easy, but withdraw it only if you are in dire need

There is no income-tax on the advance, but withdraw only in dire need

Labour ministry keen to retain 8.65% interest rate on EPF deposits for FY20

The EPFO had provided 8.65 per cent rate of interest to its subscribers for 2016-17 and 8.55 per cent in 2017-18

Government approves 8.65% interest on EPF for FY17

FinMin had decided to lower EPF interest rate to 8.7% from 8.8% approved by CBT for FY16