GPF CONTRIBUTION
Central govt employees: General Provident Fund (GPF), other provident funds' interest rates announced for July-September 2024
Central govt employees' salary: The Ministry of Finance has announced the interest rates of the General Provident Fund (GPF), Contributory Provident Fund (CPF) and other similar provident fund schemes for the July-September quarter of 2024. Will investors get interest on GPF if the contribution exceeds Rs 5 lakh? GPF latest interest rates and all other latest rules explained.
General Provident Fund (GPF) interest rate for April-June 2024 quarter announced
The Ministry of Finance has announced the interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives for April- June 2024 quarter.
Central govt employees' pension: NPS to OPS switch? Centre releases new FAQ answering all your queries
NPS vs OPS: The Centre allowed central government employees to switch from NPS to CCS (Pension) Rules, 1972 (now 2021), known as the old pension scheme. The Department of Pension and Pensioners’ Welfare released FAQs to address queries on the implementation of the switch. All the central government employees and pensioners must know
Latest General Provident Fund rules: Will interest amount be paid if the GPF contribution exceeds Rs 5 lakh? Govt clarifies
General Provident Fund rules: All government employees can open a GPF account and pay a portion of their salaries to the GPF. When they retire, employees receive the entire money accrued in their GPF account over their service tenure.
General Provident Fund (GPF) interest rate for January- March 2024 quarter announced
The Ministry of Finance has announced the interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives for January- March 2024 quarter.
General Provident Fund (GPF) interest rate for October-December 2023 quarter announced
The Ministry of Finance has announced the interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives.
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One-time option to switch to OPS from NPS available for these central govt employees; know eligibility, last date
NPS vs OPS: Select All India Services (AIS) officers covered by the National Pension System (NPS) will now get a one-time option to switch to the Old Pension Scheme, said DoPT. Know who will be eligible, what is the last date to submit the application and how will NPS corpus be restructured if a government employee switch to OPS from NPS.
General Provident Fund (GPF), CPF interest rates announced for July-September 2023 quarter
The Ministry of Finance has announced the interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives.
The debate on National Pension System
As per its terms of reference, the committee will suggest whether any changes are warranted given the existing framework and structure of the National Pension System (NPS), also called the new pension scheme, as applicable to government employees.
Central govt employees: General Provident Fund (GPF), CPF interest rates announced for April-June 2023 quarter
The interest rates of GPF, All India Services Provident Fund and other similar funds will be 7.1 per cent for the April-June quarter, 2023, said the Department of Economic Affairs (DEA), Ministry of Finance in a resolution on April 10, 2023. All you need to know.
Central govt employees: General Provident Fund (GPF), CPF interest rates announced for Oct-Dec 2022 quarter
The interest rate on GPF and other similar funds would be 7.1 per cent for the October-December quarter, 2022, said the Department of Economic Affairs (DEA), Ministry of Finance in a resolution. All you need to know.
Poll-bound Chhattisgarh's plan to switch to old pension scheme hits PFRDA hurdle
PFRDA has rejected the Congress government’s demand to withdraw funds accrued through government and employees’ contribution saying there is no provision in PFRDA Act 2013 and PFRDA Resolution 2015 and subsequent amendments to return the amount invested. Election-bound Chhattisgarh had to shift to the Old Pension Scheme from May and had notified the system in its gazette.
Chhattisgarh govt asks PFRDA to return Rs 17,240 crore for old pension scheme rollout
The finance secretary further requested the PFRDA to refund the amount soon according to its present market value citing that it will be used to meet future pension liabilities and will be kept in a separate pension fund under the Public Account of the state government. The finance secretary has also informed that the principal amount contributed by the employees in their NPS accounts will be transferred to the Chhattisgarh GPF accounts of the employees, it said.
Chhattisgarh first state to restore old pension scheme
The Chhattisgarh government, on Thursday, issued a Gazette notification switching back to OPS from NPS. The OPS has become effective from April 1, 2022.
What happens if pension, gratuity payment is delayed due to administrative reasons?
If a Pension Payment Order (PPO) authorised pension is delayed due to administrative reasons or lapses, interest on arrears of pension, gratuity, and family pension will be paid at the same rate and in the same manner as interest on General Provident Fund amounts.
General Provident Fund interest rate for Oct-Dec 2021 quarter announced
"It is announced for general information that during the year 2021-22, accumulation at the credit of subscribers of General Provident Fund and other similar funds shall carry interest rate of 7.1% (seven point one percent) w.e.f. 1st October 2021."
Govt introduces rules for calculating taxable interest on PF contributions beyond specified limits
Two separate accounts within the PF account will have to be maintained during 2021-22, and onwards, for segregating the taxable and non-taxable contributions made, the Central Board of Direct Taxes (CBDT) said in a notification issued Wednesday.
No equalisation levy if services, goods provided via Indian entity
Sitharaman said the tax exemption for the National Bank for Financing Infrastructure and Development (NaBFID) was necessary since building infrastructure through 7,000 greenfield and brownfield projects identified in the National Infrastructure Pipeline was an important step being taken by the government.
PPF stays out of tax on EPF interest
“The cap is not applicable on PPF because there is already a limit of ₹1.5 lakh contribution in a year to PPF,” the official said. The government has proposed changing taxation rules for provident funds by levying income-tax on the interest earned on contributions exceeding ₹2.5 lakh in a financial year.
PF tax prompted by HNIs availing waiver
“One of the highest contributors has more than ₹103 crore in his PF account, followed by two second highest ones having more than ₹86 crore each,” said a government official.
20 EPF members are HNIs with Rs 825 cr in their accounts: Govt sources
The sources said that there are more than 4.5 crore contributors’ accounts in EPF. Out of these more than 1.23 lakh accounts are of HNIs who contribute monthly very huge sums to their EPF accounts.
Nearly 1.23 lakh EPF accounts of high net worth individuals have total contribution of Rs 62,500 cr
"One of the highest contributors has more than Rs 103 crore in his PF account, followed by two second highest ones having more than Rs 86 crore each... top 20 HNIs have about Rs 825 crore in their accounts while top 100 HNI contributors have more than Rs 2000 crore," one of the sources said.
Modifications in National Pension Scheme financially untenable: FM
Manjeet Singh Patel demanded modification in the National Pension Scheme (NPS) so that a large part of the contributory fund, which is currently invested in the market, can be made available to governments to supplement their fight against coronavirus.
Central govt staff can now save tax via NPS with only 3-year lock-in
The Finance Ministry announced that contribution made by the central government employees under the Tier-II of NPS will now be eligible for deduction under section 80C.
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.
EPFO cuts interest rate to 8.55% for 2017-18 from 8.65% for 2016-17
"This year, we have decided to recommend 8.55% for 2017-18, which will leave a surplus of Rs 586 crore," said Labour Minister Santosh Gangwar.
CAPF jawan losing Rs 5 crore in pension funds under NPS: Study
The study has been conducted by a BSF second-in-command- rank officer, Neeraj Lakhanpal, during his stint with his forces' Institute for Border Management and Strategic Studies.
Difficult to move back to old pension system: PFRDA
Government employee associations are demanding restoration of old pension system which was replaced with contribution-based NPS) in 2004.
Contribution to consolidated sinking fund enlarged by cabinet
The government had constituted consolidated sinking fund in the year 1999-2000 and has invested a total sum of Rs 169.90 crore so far.
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