Provident Fund
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EPFO: CBT rejects proposal to reduce PF contribution to 10 pc
May 27, 2017 22:00 ISTPresently, employees and employers contribute 12 pc of basic wages each towards EPF, EPS and Employee Deposit Linked Insurance Scheme (EDLI).
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Govt tweaks norms, allows EPF withdrawl for treatment without doctor certificate
April 27, 2017 18:43 ISTThe Employees' Provident Fund Scheme 1952 is amended to do away with the requirement of submission of various certificates and proformas for seeking advance for treatment of illness and purchasing equipment required in case of physical disabilities
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EPFO to provide 8.65 pc interest on provident fund for last fiscal, says Labour minister
April 13, 2017 18:00 ISTThe EPFO’s apex decision making body the Central Board of Trustees (CBT) had in last December decided to provide 8.65 per cent rate of interest on EPF deposits, he noted.
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Government may cut interest rates on small savings including PPF
December 23, 2016 12:46 ISTIn a move that could hurt the common man in new year, the government likely to lower interest rates further on small savings including Public Provident Fund (PPF).
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EPFO cuts interest rate on deposits to 8.65 pc, 4 cr employees affected
December 19, 2016 21:16 ISTFour crore subscribers of the Provident Fund will now get lesser return on their deposits as the retirement fund body EPFO today decided to lower the interest for the current fiscal to 8.65 per cent.
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Pledging provident fund to buy low cost homes to be reality next fiscal
October 03, 2016 12:13 ISTOver four crore subscribers of the Employees Provident Fund Organisation would be able to pledge their provident fund to buy houses and use their accounts to pay equated monthly installments (EMIs) from next fiscal. "We
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Trade unions protest as govt orders to use unclaimed PF to help senior citizens
India | July 27, 2016 10:07 ISTTrade unions on Tuesday walked out of a meeting of EPFO trustees protesting against the governments decision to appropriate unclaimed PF money for funding senior citizens welfare schemes. Labour Minister Bandaru Dattatreya, who was
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Another PF correction: Govt hikes interest rate to 8.8%
April 29, 2016 17:22 ISTNew Delhi: Following protest from the trade unions, the finance ministry has hiked interest rate on provident fund deposits to 8.8 per cent from the 8.7 per cent decided by it earlier. This is the
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EPFO to introduce system to check premature withdrawals from May 1
April 24, 2016 13:39 ISTNew Delhi: Retirement fund body EPFO is planning to introduce ‘One Employee One EPF Account’ system on May 1 to discourage premature PF withdrawals and encourage state governments to join its pension system. The decision
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Withdrawal for housing, medical purposes possible as Govt eases PF norms
April 19, 2016 8:24 ISTThe Narendra Modi government has decided to defer the new rules restricting provident fund withdrawals till retirement. According to Ministry of Labour and Employment, the relaxed norms will enable people to withdraw their PF for housing, medical eme
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EPFO puts fresh norms on PF withdrawl on hold till April 30
April 02, 2016 16:20 ISTRetirement fund body EPFO has deferred the implementation of new norms regarding the withdrawal of provident fund by members till April 30
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Interest rate cut on savings is ‘criminal breach’ of trust: Congress
Politics | March 19, 2016 11:22 ISTThe Opposition Congress on Friday reacted sharply to government’s move of slashing interest rates on all small savings schemes, including PPF, saying it is “fleecing” the poor and is a “criminal breach” of the trust of people.
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EPF tax: Final stand on taxing during Budget debate, says Jaitley
March 03, 2016 10:01 ISTNew Delhi: Facing flak for proposing a tax on employee provident fund withdrawals, Finance Minister Arun Jaitley said he will spell out the final decision on the matter when he replies to the debate on
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Interest rate on small savings cut by 0.25%; PF rate hiked to 8.8%
February 17, 2016 11:47 ISTNew Delhi/Chennai: The Employees' Provident Fund Organisation (EPFO) hiked the interest rate on provident fund from 8.75% to 8.8% for the current fiscal, while interest on short-term post office saving deposits cut by 0.25 percent.Underlined
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More than 27000 crores of EPF is unclaimed, know how you can claim yours
India | August 31, 2015 11:56 ISTThe Employees Provident Fund (EPF) was established through an act of Parliament. Both employees & employers contribute to the fund. The fund can be withdrawn by the Employee in case of retirement, resignation or by
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More than Rs 27000 crores of EPF unclaimed, know how to claim yours
August 29, 2015 22:13 ISTEmployees contribute to Provident Fund for post retirement benefits. But when employees change jobs, some of them open a new EPF account and do not operate their old EPF account. As a result, that account
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Government set to cap premature PF withdrawals at 75%
July 25, 2015 12:59 ISTNew Delhi: The Labour Ministry is all set to cap premature provident fund withdrawal at 75 percent of total deposits in case an EPFO subscriber goes without a job for two months.The rest 25 percent
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Government may cap premature provident fund withdrawals at 75%
July 07, 2015 12:36 ISTNew Delhi: The government is looking to cap premature provident fund withdrawals at 75 per cent for EPFO subscribers at any given time till the age of 58.Under the existing provisions, Employees Provident Fund Organisation
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Govt planning to shed off employee's contribution to EPF, employer's share to remain
March 13, 2015 9:56 ISTNew Delhi: The law governing Employees Provident Fund (EPF) is soon to see drastic changes with government planning to discontinue mandatory 12% contribution by employees while retaining the outgo for employers, however, the arrangement will
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EPF: Centre mulls reducing employee contribution to 10 % from existing 12 %
January 22, 2015 14:09 ISTNew Delhi: The Central government is considering reducing provident fund (PF) contribution to 10 per cent from existing 12 per cent of basic wages.It is also likely that the government would waive-off mandatory PF contributions
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