EPF ACCOUNT MIGRATION
Can you transfer EPF account from unexempted trust to EPFO, exempted trust?
EPF account transfer from unexempted trust: Many salaried individual have Employees' Provident Fund account either with EPFO or exempted trusts. However, what if you have an EPF account with unexempted trusts? Does EPF scheme rules allow an EPF member to transfer the unexempted trusts to EPFO or exempted trusts? Read on to know about it.
Latest EPFO rules: How to unblock inoperative EPF account, settle claims
The EPFO has especially outlined the procedural complications involved in UAN generation/linking, KYC seeding, blocking, unblocking, and paying claims for transaction-less accounts and inoperative Accounts. Let us take a look at what the EPFO SOP had to say about inoperative accounts.
Will your EPF account earn tax-free interest even after you leave job?
Many salaried workers make monthly contributions to the Employees' Provident Fund (EPF) account knowing that the account will mature at the time of retirement. However, not many people are aware of the finer details of the scheme. How long money can be kept in the EPF account after leaving job? If an interest will be earned on those EPF accounts.
Let workers port to the NPS as well
When more subscribers join, the pool of funds with the NPS will increase, giving fund managers greater flexibility to diversify deployment across asset classes.
EPFO settles 56.79 lakh COVID-19 advance claims, releases over Rs 14,000 cr till December
When the coronavirus-induced lockdown was imposed in March, the central government had allowed over 6 crore subscribers of the Employees' Provident Fund Organisation's (EPFO) to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account, to support them during the nationwide lockdown.
Just a third of small and medium businesses eye Atmanirbhar scheme
While uptake for long-term measures has been low, a larger number of SMBs are looking to benefit from the extension in deadlines for filing income tax and GST. 68% of SMBs were aware of at least one scheme under the initiative, but only 32% were considering availing of at least one of the benefits.
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View: For sustainable social security, the govt’s role must be that of enabler, not provider
The need of the hour is for a well-run, graded social security scheme. It is a misconception that the poor cannot set aside small sums every month
Voluntary provident fund: Investing, contribution, interest rate and other things to know
If you are planning to invest in the Voluntary Provident Fund (VPF), here are the answers of the some the commonly asked questions about it.
I quit my job to start a business. Can I keep the PF with the employer till retirement?
No TDS will be deducted but you will have to declare the interest every year as income from other sources in your tax returns and pay tax accordingly. If the company gets merged with some other company then the merging company will take care of PF.
EPF account interest for FY 2017-18 still not credited: Here's what we know so far
It's learnt that data is being uploaded and sent to regional offices under the new mechanism, so the delay.
Unclaimed shares, insurance, deposits: How to find and get your dues back
Crores of rupees are lying with banks, and other organisations. Here’s how you can get back your money.
Social security code may let workers choose pension, PF & health schemes
These schemes could either be govt run or have private players operating in areas of pension, insurance and provident fund, a senior govt official told.
View: Government should open up access to NPS Tier 2 account for senior citizens
Government should open up access to NPS Tier 2 account for senior citizens who, by virtue of being over 60, are not eligible to have a Tier 1 account.
EPFO to receive your PF contributions only if UAN is linked to current employer
From December 20, 2016, EPFO is introducing a new version of Electronic Challan cum Return to provide a unified platform for various EPF services.
Now, even idle EPF account will earn interest
The dilution in the definition of inoperative accounts means that from Nov 11, more account holders will get interest against funds lying idle in their EPF accounts.
Budget 2016: Impact of proposed EPF tax & what you should do
The government is under pressure to roll back the proposed tax on Provident Fund. Here’s what you can do if it comes into effect.
Budget 2016 impact: Younger subscribers worst hit by EPF tax
Older subscribers to employees’ provident fund who have periodically dipped into their corpus will also see a big chunk of their savings go into tax.
NPS needs to offer equal tax treatment to all irrespective of nature of employment
The problem with taxation of withdrawals under the National Pension System is not that it’s confusing, but that it may not be fair.
PM Narendra Modi unveils labour reforms; launches Universal Account Number for employees
Aiming to put an end to the infamous 'inspector raj' culture, PM Modi unveiled labour reforms in an attempt to boost his 'Make in India' programme.
Government decision to issue Universal Accounting Numbers to benefit 30 million workers: Ficci
"This is also true in the case of all the informal sector workers which account for 94 per cent of the total Indian labour force."
Forcing workers to divert more of their salary to the provident fund is wrong
All that would happen is that the employee’s take-home salary would come down drastically, she would get to spend less, and get to save less in a manner of her choosing.
Poke Me: Why the Employee Provident Fund should be shut down
The EPFO cant keep discovering a goldmine in its accounting every year. A superior return is next to impossible when investments are made only in special deposits that earn a fixed interest, or in government and PSU bonds.
10 problems ailing Indian economy & solutions to revive it
India's GDP growth dropped to a 9-year low of 6.5% in 2011-12. Getting back to 9% is not going to be easy this time, but a few things can be done to pull the economy out of its current troubles:
EPFO fails to manage workers retirement savings, generate reasonable returns
Rturn from NPS was around 11.88% over the last two years against 8.8% on the EPFO. So, workers should have the choice to migrate.
Amend the EPF Act to allow workers to migrate to NPS and earn higher returns
Government should amend the income-tax law to bring the tax treatment on NPS at par with other longterm savings instruments.
Messy EPFO: Trace owners of inoperative accounts
The Employees Provident Fund Organisation (EPFO) is set to offer a better-than-expected return of at least 9% in 2011-12.
Open national pension system to EPF members
Incentives can be given directly to the pension fund managers (PFMs) themselves. Ultimately, they are the biggest stakeholders in the whole system.
Amend EPF Act: Allow voluntary migration to NPS
The EPFO's corpus is large enough to be diversified across the risk spectrum to generate high, yet safe returns.
Improvident fund: Allow voluntary migration to NPS
Amend the law to allow voluntary migration of individual workers from EPFO to NPS.
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