Page 2 - Epf

Why your allocation to EPF should not change despite interest rate cut

The Employees' Provident Fund Organization recently slashed the interest rate on EPF from 8.5% to 8.1% for 2021-22. This is the lowest rate in more than four decades. But it still holds the edge.

Employer has to pay damages for delay in payment of EPF contribution: SC

An employer is under an obligation to pay the damages for delay in payment of the contribution of Employees' Provident Fund (EPF) of an employee, the Supreme Court said on Wednesday. A bench of Justices Ajay Rastogi and Abhay S Oka said Employees Provident Fund & Miscellaneous Provisions Act is legislation for providing social security to the employees working in any establishment and engaging 20 or more persons. The top court said that the Act casts an obligation upon the employer to make the compulsory deduction for provident fund and to deposit in the workers' account in the EPF office. We are of the considered view that any default or delay in the payment of EPF contribution by the employer under the Act is a sine qua non for the imposition of levy of damages under Section 14B of the Act 1952 and mens rea or actus reus is not an essential element for imposing penalty/damages for breach of civil obligations/liabilities, the bench said. The top court was hearing an appeal filed .

Don't bank just on EPS as its pension payouts are paltry, say analysts

At present, it is mandatory for employees who earn a basic salary plus dearness allowance (DA) of up to Rs 15,000 to enrol in EPS

Nearly 48 mn new subscribers joined EPF scheme during 2017-21

Nearly five crore new subscribers joined Employees' Provident Fund (EPF) scheme between September 2017 and October 2021, the government data showed on Friday.

Government approves 8.5% interest rate on EPF for fiscal year 2021

Just ahead of Diwali, this is a good news for over 50 million subscribers of the Employees Provident Fund Organisation

Decoded: What is Provident Fund and when can you withdraw money from it?

The EPF (employee provident fund) has traditionally been the most common tool for salaried Indians to save for their retirement. But what is a provident fund? Get answers to all queries related to PF

Net EPF subscriptions hit record 1.46 mn in July amid easing lockdowns

The data, also called net payroll data, was higher in each of the first four months of the current financial year than the average monthly figure of previous years

Aadhaar seeding must for EPF deposits from Sept, extended for north-east

Specified industries such as construction, plantation also given time till December 31

EPF contribution of over Rs 2.5 lakh now requires 2 PF accounts

The rules will be effective from April 1, 2022.

Govt cuts interest rates on small savings schemes effective from April 1

The rate of interest on PPF has declined from 7.1 per cent earlier to 6.4 per cent now

From taxation of EPF contributions to new wage code, what to expect in FY22

Here is a look at some of the salient ones

Rejig wage structure to benefit from EPF rule change, say analysts

If employer contribution is low, get salary restructured to enjoy higher tax-free interest

A dive into five contentious issues contained in Finance Bill, 2021

Govt may have to respond to concerns over equalisation levy, exporters issues, definition of the term 'liable to tax' and taxability of interest on employees' EPF contributions exceeding Rs 2.5 lakh

Interest on EPF taxable, partial withdrawal not allowed after retirement

Subscribers can withdraw the entire EPF corpus when they retire or when they have been unemployed for over two months

Wealthy PF investors may opt for debt funds as Budget changes tax rule

Budget proposes that interest on the PF contributions (employee contribution) above Rs 2.5 lakh per annum be taxable with from April 1, 2021

Budget debate: We care for poor and respect wealth creators, says FM

Budget is the instrument for Atmanirbhar Bharat, says FM Nirmala Sitharaman

Subscribers to get 8.5% EPF savings interest at one go on 'market boost'

The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately

HC rejects PIL claiming EPF Act not being followed while enrolling members

Delhi HC dismissed a PIL which claimed that the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 and the schemes framed under it were not being followed while enrolling members

EPF subscribers cross pre-Covid level in July, but number may be overstated

Earlier, there was a net addition of 20,164 to EPF subscription in April, 172,174 in May. However, new data now shows subscribers shrank by 61,807 in April and addition in May was just 40,551

How 3 labour codes aim to reform employment contract, layoffs, work safety

Legal changes will grant contract workers equal statutory social security benefits as regular workers of a business