EPFO mulls increasing equity exposure limit to 25% days after cut in interest rate
Business | June 07, 2022 8:58 ISTEPF Interest Rate: It was in 2015 when the EPFO was first allowed to start investing in equities, but with a limit.
EPF Interest Rate: It was in 2015 when the EPFO was first allowed to start investing in equities, but with a limit.
The Employees' Provident Fund Organisation's (EPFO's) apex decision making body Central Board of Trustees has decided to provide 8.1 per cent rate of interest on Employees Provident Fund (EPF) for 2021-22 in its meeting held on Saturday, sources said.
At present, all those employees in the organised sector whose basic wage (basic pay plus dearness allowance) is up to Rs 15,000 per month at the time of joining service are mandatorily covered under EPS-95.
Asked whether EPFO would maintain the 8.5 per cent interest rate for 2021-22 as decided for 2020-21, Yadav, who also heads the CBT, said the decision would be taken on the basis of income projection for the financial year.
The Union power secretary Alok Kumar and agriculture secretary Sanjay Agarwal may soon be repatriated to their cadre state Uttar Pradesh where the CBI has sought sanction to investigate them in a Rs 2,268 crore PF scam, as per media reports.
Of the total 14.81 lakh net subscribers, around 9.19 lakh new members have come under the social security ambit of EPFO for the first time.
People with Employees' Provident Fund and Voluntary Provident Fund (VPF) contribution of over Rs 2.5 lakh per financial year will now have two separate PF accounts.
PF Income Tax Section, PF Interest Taxable: PF accounts will be split into two separate accounts. Tax will be collected from employees' contributions exceeding Rs 2.5 lakh per year in the taxable account.
Facing financial crunch due to pandemic and lockdown, here how you can withdraw Provident Fund as per Employees' Provident Fund Organisation rules.
The Employees’ Provident Fund Organization (EPFO) has made it mandatory for its subscribers to link Aadhaar Card with PF UAN (universal account number) to continue receiving funds in their PF accounts from the employers and other benefits.
PPF and NSC will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the second quarter as well.
The EPFO had directed that PF returns shall be allowed to be filed only for those members whose Aadhaar numbers are seeded and verified with the UAN, with effect from June 1, 2021.
The labour ministry had envisaged implementing the four codes on industrial relations, wages, social security and occupational health safety & working conditions from April 1, 2021.
The government on Tuesday raised the deposit threshold limit to Rs 5 lakh per annum in provident fund for which interest would continue to be tax exempt. This would be applicable to those cases where no contribution is made by employers to the retirement fund.
The Employees' Provident Fund Organisation's (EPFO) apex decision-making body Central Board of Trustees decided to fix 8.5 per cent rate of interest for 2020-21 at its meeting in Srinagar on Thursday, sources said.
The interest earned by the Provident Fund contributions above Rs 2.5 lakh a year will now be taxable. The provision, introduced in Budget 2021 will apply only to the employee's contribution and not that of the employer.
The CBDT has now amended I-T rules, thereby diluting norms for investment purposes to bonds with minimum 'A' rating, as against the earlier requirement of 'AA' rating
Net new enrolments with retirement fund body EPFO rose to 3.18 lakh in May from 1 lakh during April 2020, according to its latest payroll data, providing a perspective on employment in the formal sector amid the COVID-19 crisis.
The labour ministry on Tuesday said employees can contribute more than the newly set limit of 10 per cent of basic wages to their provident fund (PF) for the next three months, but employers don't need to match the higher contribution.
The Ministry of Labour & Employment has implemented new rules that allow for reduced employees' provident fund (EPF) contributions for three months till July. Here are key points to know about new EPF rules:
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