PF MONEY
Zimbabwe authorities mix charm with force in an attempt to shore up the world's newest currency
Although money typically doesn't require publicity, Zimbabwe's sixth national currency in 15 years needs all the help it can get. Desperate to halt a money crisis underlining the country's economic troubles, the government launched the gold-backed ZiG, the latest attempt to replace the Zimbabwe dollar, which had been battered by depreciation and often outright rejection by people unwilling to put their faith in it.
You could lose section 80C tax benefit on EPF contribution; here's why
Section 80C tax benefit on EPF: Many salaried individuals claim Section 80C tax benefit on their own Employees Provident Fund (EPF) contribution. However, not many are aware that if the EPF trust does not meet certain specified conditions, then both the employer and employee contribution will be taxable in the hands of an individual.
SBI hikes FD interest rates but still less than what these 313 debt mutual funds have offered
SBI raises fixed deposit rates by up to 75 basis points, effective May 15, yet falls short compared to over 300 debt mutual funds offering higher annualized returns of 6.47% to 11.60%.
When Ankur Warikoo made money in penny stocks and got addicted
Ankur Warikoo shares his investing journey, advice on house buying, asset allocation strategy, views on gold vs crypto, past mistakes, and investment recommendations for youngsters in a jargon-free book 'Make Epic Money'. Warikoo also says: "Index mutual funds are an incredible way of slow money making, benefiting from compounding. "
How can I increase my monthly income to Rs 3-4 lakh?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
6 factors to consider before changing your asset allocation
Asset allocations don’t have to dramatically alter every year, unless something dramatic has happened to our income-earning abilities. Despite all the noise about actively managed this and that, a simple passive style that allows the investments to run undisturbed, delivers quite well.
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Why you should change nominations to benefit dependants after marriage
Atul’s concerns on the need to change the nominations in line with the alteration in his family situation are valid. Nomination is a facility that will help Atul’s dependants easily get the money he has invested, in the unfortunate event of his passing away.
SC asks new owners of Jet Airways how much they paid towards PF, gratuity dues of employees
The Supreme Court has raised questions regarding the payment of dues owed to former employees of Jet Airways by the Jalan-Kalrock consortium, the new owners of the financially troubled airline. During the hearing of various petitions, including one filed by the Jet Aircraft Maintenance Engineers Welfare Association, the apex court sought information on the amount paid towards provident fund and gratuity.
FDs, insurances, PF, mutual fund SIPs or demat accounts: What should you consider while making nominations?
Nomination and joint holding are two of the simplest ways of identifying beneficiaries for investments. As far as possible, you need make sure that the beneficiary is someone whose needs will be taken care of by the specific investment in the future. It would be good if you maintain a list of your investments and kept track of the nominations you have made. Informing the nominees that they have been made beneficiaries is also a good exercise since the purpose of making smooth transition will otherwise be lost.
EPFO disburses Rs 48,000 crore Covid advance to over 22 million subscribers in 3 years
As per the draft Annual Report 2022-23, EPFO disbursed Rs 17,106.17 crore in 2020-21 benefitting 6.92 million beneficiaries, Rs 19.126.29 crore in 2021-22 to 9.16 million beneficiaries and Rs 11,843.23 crore to 6.20 million beneficiaries in 2022-23.
Is EPF e-nomination mandatory to partially withdraw money from EPFO accounts?
The Employees' Provident Fund (EPF) Advance Form, also known as Form 31, is typically used to submit a claim for a partial withdrawal or advance from the EPF account.
SpiceJet says TDS process has begun, co will deposit 'substantial' amount towards PF soon
Indian budget carrier SpiceJet has reportedly not deposited money into its employees' pension funds for at least 18 months and has not submitted employee tax since the last fiscal year. The airline has also delayed salaries to senior employees. In addition to these issues, SpiceJet is involved in legal battles with its former promoter and some lessors.
Retired govt employee falls victim of honeytrapping by two women, loses Rs 82 lakh PF money
Three individuals have been arrested in Bengaluru for an extortion scheme that led to a 60-year-old retired state government employee losing over Rs 82 lakh. The victim was reportedly lured into the trap after his friend introduced him to a woman with a young cancer-stricken child who required financial assistance.
Byju’s remits remaining PF contribution for employees after delay
According to EPFO rules, employers or companies are mandated to deposit the PF for a particular month by the 15th of the next month.
No EPF nominee? How PF money will be paid after EPFO member's death
. Employees' Provident Fund (EPF) account allows nominees to receive a portion of PF accumulations, EDLI benefits, and pension payments in the case of a member's death.
How an early start to savings, investments can help reach ambitious money goals
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals.
Byju’s sighs, in relief; Prosus writes off ZestMoney investment; and BGMI’s India return
After a long time, it was Christmas at Byju’s as a US court rejected a plea by its Term Loan B (TLB) lenders to probe a $500-million transfer from the firm’s US-based subsidiary to other entities. Further, Byju’s claimed it had fully paid the provident fund dues of its employees, quelling media reports that alleged it was withholding PF monies. This and more in today’s ETtech Morning Dispatch.
Byju’s staff to get their PF dues as company transfers Rs 123 crore to EPFO
According to people familiar with the development, Byju’s has made a payment of Rs 123.1 crore to the EPFO for a 10-month period from August 2022 to May 2023, while committing to pay the remaining arrears of Rs 3.43 crore within a couple of days.
Higher pension option to impact PF corpus
Under the Employees’ Provident Fund & Miscellaneous Provisions Act, both employee and employer contribute 12% of the basic wage. While the employees’ entire share of 12% goes to the provident fund corpus, employers contribute 8.33% to the Employees’ Pension Scheme while the 3.67% goes to PF.
Jalan-Kalrock needs to provide for Jet staff's PF dues: Lenders
Bankers said the apex court's order on Monday has finally clarified that the employee liabilities have to be borne by the consortium and the ball is now in their court to clarify and ensure there is enough funding to take care of these new liabilities.
Arnav Pandya on pension, PF and retirement portfolio
“Remember very clearly that the employee does not contribute to the pension part, only the employer does and the entire part of the employee’s contribution goes to the provident fund part. Now the pension part is important because this is the area where if you are eligible, then at the time of your retirement, you will start getting a pension based on the working of the EPS.”
Advice for millennials! Rs 5,000 invested monthly in PF can also get you your crorepati tag
Post-tax returns are an important aspect for every investment avenue. A suggestion for younger people who can afford to do so, is to buy a term insurance and health insurance early on in their career, over and above of what their employer provides.
4 reasons why retirement planning is critical for women. Here’s how to start
Men and women undergo different life experiences which differ in their knowledge and attitude towards risks. Making retirement planning more critical for every woman.
EPFO looking to increase equity exposure
If approved, this would translate into Rs 2.25 lakh crore of the provident fund money going into the stock market over the next few years, a top government official told ET.
EPFO may consider more govt bonds and equity investments
The proposals are aimed at ensuring high returns for provident fund subscribers and they come after the EPFO cut the interest rate for 2021-22 to 8.10%, the lowest in four decades.
How to withdraw EPF money using Umang app?
The Umang app is one of the routes an Employees’ Provident Fund (EPF) member can take to withdraw money from their PF account.
EPFO moots entry of former members with minimum contribution of Rs 500 a month
A top government official told ET that work has started within the EPFO to work out a model that will enable individuals, who were earlier members of the organisation, to join back with a minimum monthly contribution of ₹500 or 12% of their monthly income.
How to find your UAN
The EPFO has a portal where subscribers can view account details, download EPF passbook and carry out transactions such as withdrawal of funds or transfer of PF money from one employer to another.
Rs 82,000 crore lying in unclaimed bank a/cs, life insurance, mutual funds, PF: How to get your money back
ET Wealth estimates that more than Rs 82,000 crore of investor wealth is lying unclaimed in forgotten and lost investments. There are unclaimed deposits languishing in dormant bank accounts, maturity proceeds of policies idling in insurance companies and even the life savings of individuals locked up in inactive provident fund accounts.
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