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  Labour codes on cards: Companies PF liability to go up, workers to see reduction in take-home pay

  Business | June 06, 2021 12:25 IST

  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.

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  Govt raises PF threshold limit to Rs 5 lakh for earning tax-free interest

  Business | March 23, 2021 21:26 IST

  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.  

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  Provident Fund ALERT! EPFO fixes 8.5% interest for 2020-21

  Business | March 04, 2021 14:59 IST

  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.

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  Interest earned on PF contributions above Rs 2.5 lakh now taxable

  Business | February 01, 2021 16:23 IST

  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.

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  Recognised PFs can invest in 'A' or higher rated securities: CBDT

  Business | October 25, 2020 11:52 IST

  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

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  EPFO records 3.18 lakh new enrolments in May

  Business | July 20, 2020 22:47 IST

  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.

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  Employees' PF contribution can go higher than 10%, not of employers: Labour ministry

  Business | May 19, 2020 23:28 IST

  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.

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  New EPFO Rules: EPF contribution cut to 10% for May, June, July. Key points to know

  May 19, 2020 13:19 IST

  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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  12 lakh EPFO members withdraw Rs 3,360 cr retirement savings during lockdown: FM Sitharaman

  Business | May 17, 2020 14:59 IST

  Finance Minister Nirmala Sitharaman on Sunday said around 12 lakh members of the Employees' Provident Fund Organisation (EPFO) withdrew Rs 3,360 crore retirement savings during the coronavirus-induced lockdown.

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  12 lakh EPFO members withdraw Rs 3,360 cr retirement savings during lockdown: FM Sitharaman

  Business | May 17, 2020 14:41 IST

  Finance Minister Nirmala Sitharaman on Sunday said around 12 lakh members of the Employees' Provident Fund Organisation (EPFO) withdrew Rs 3,360 crore retirement savings during the coronavirus-induced lockdown.

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  Pvt PF Trusts disburse Rs 481 cr to 40,826 employees as non-refundable advance

  Business | April 20, 2020 20:45 IST

  Private provident fund trust have disbursed Rs 481.63 crore to 40,826 employees as non-refundable advance to cope up with difficulties during the lockdown to contain COVID-19. These trusts include NLC, TCS, Vizag Steel Plant, state-run power giant NTPC, HCL and Power Grid.

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  PF Money: Step-by-step guide to withdraw EPF balance citing coronavirus

  Business | March 30, 2020 14:51 IST

  EPFO has made a change in its EPF rule to allow subscribers non-refundable withdrawal of PF money. EPFO subscribers will be allowed to withdraw 75 per cent of PF balance or three months' wages, whichever is lower. EPF account holders can claim for 'advance' withdrawal via EPFO's unified portal -- unifiedportal-mem.epfindia.gov.in. Here's a step-by-step guide to withdraw EPF money citing COVID-19 outbreak.

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  PF Money Alert! EPFO allows non-refundable advance withdrawal during coronavirus pandemic

  Business | March 29, 2020 14:32 IST

  The Union Labour and Employment Ministry has notified amendment to the Employees' Provident Funds (EPF) Scheme to allow withdrawal of non-refundable advance by the members in the event of COVID-19 pandemic.

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  Govt to pay 24% Employees' Provident Fund for companies with less than 100 workers for next 3 months

  Business | March 26, 2020 15:13 IST

  Finance Minister Sitharaman on Thursday announced that the government will pay the Employees' Provident Fund (EPF) contribution, both of employer and employee every month for the next three months, as part of COVID-19 relief package.

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  EPFO Alert! Provident Fund interest rate reduced to 8.50% for FY20

  Business | March 05, 2020 13:37 IST

  Bad news for salaried employees as they could face a cut in interest on their provident fund (PF) deposits for FY20. The Central Board of Trustees of Employees Provident Fund Organisation (EPFO) has recommended interest rate of 8.5%.

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  EPFO Alert! Govt to retain 8.65 pc interest rate on EPF deposits; 6 cr members to benefit

  Business | March 01, 2020 13:42 IST

  The labour ministry is keen to retain an interest rate of 8.65 per cent paid on provident fund deposits to around six crore subscribers of retirement fund body EPFO for the current financial year, a source said.

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  PF Money: EPFO plans interest rate cut on provident fund savings

  Business | February 28, 2020 18:33 IST

  PF Money: The Employees' Provident Fund Organisation (EPFO) is considering a cut of 15 basis points in the interest rate on PF deposits in FY20 to 8.5%. The issue is expected to be taken up at the central board of trustees (CBT) meeting of the EPFO slated for March 5.

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  Your PPF money has become more secure with THESE new rules

  Business | December 17, 2019 11:59 IST

  Under the new rules, the amount in PPF account will not be liable to attachment under any order or decree of any court in respect of any debt or liability incurred by the account holder.

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  Uttar Pradesh power employees strike over Provident fund scam

  India | November 18, 2019 11:41 IST

  Employees of the Uttar Pradesh Power Corporation Limited (UPPCL), on Monday, proceeded on a two-day work boycott to protest against the provident fund scam in which their money was invested in the tainted Dewan Housing and Finance Corporation Limited (DHFL).

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  11 Essentials of Employees’ Provident Fund (EPF)

  Brand Content | October 31, 2019 15:43 IST

  The employee has to contribute 12% of the sum of basic salary, dearness allowance and retaining allowance under the EPF scheme.