SUBSIDISING PROVIDENT FUND CONTRIBUTIONS
Latest PPF (Public Provident Fund) interest rate for July- September 2024 quarter
Latest PPF interest rate: The Public Provident Fund (PPF) is widely favored as a savings option. The government has recently revealed the interest rates for small savings schemes for the period of July to September 2024. PPF investments are considered risk-free as it is government backed.
Public Provident Fund: How nominees, legal heirs can claim a PPF account on death of the subscriber
Public Provident Fund is a popular long-term savings scheme offering tax benefits and attractive interest rates. Here’s how nominees or legal heirs can claim a PPF account on the death of the subscriber.
EPF account withdrawal rule changed: EPFO discontinues Covid-19 advance facility
During the Covid-19 pandemic, a non-refundable advance was provided to the EPF members during the outbreak of first wave of Covid-19 and another advance was also allowed in view of second wave
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.
Sebi amends rule to facilitate ease of doing biz for cos planning IPOs
Companies promoted by entrepreneurs often have several rounds of funding prior to listing their equity shares on the stock exchanges. In such situations, the promoters' holding may fall short of the minimum promoter contribution i.e., 20 per cent of the post-offer equity share capital.
NPS partial withdrawal rules 2024: 7 instances when you can apply for partial withdrawal from NPS corpus
NPS partial withdrawal rules: NPS is a market-linked defined contribution scheme that helps you save for retirement. The scheme is simple, voluntary, portable and flexible. An NPS member can withdraw partial withdrawals from their retirement funds to meet certain requirements without compromising their monthly stipend upon retirement.
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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.
Responsible Innovation, how a blueprint for collaborative action is advancing global healthcare
On the occasion of the Abu Dhabi Global Healthcare Week (ADGHW), Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Centre, discusses the UAE's prioritisation of healthcare in driving investments and partnerships focusing on advancing technology and attracting top talent and fostering collaboration with India reflecting shared challenges and opportunities in healthcare. Overall, collaboration with global partners and investment in manufacturing capabilities exemplify the UAE's commitment to healthcare excellence and innovation, while initiatives like Malaffi enhance data-driven services. Read on to discover how ADGHW aims to faciliate responsible innovation in healthcare, even as the UAE emphasises patient rights protection in an era of advancing AI and data usage.
It's open season on international students across the world; and countries have billions at stake
Countries are reevaluating visa programs and education exports as student numbers surge, impacting housing costs, public services, and financial contributions. The debate involves higher-education providers, employers, tuition fees, migration policies, funding models, the role of the Office for Students, and government language affecting international student perceptions.
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.
When should EPS pensioner submit annual digital life certificate; how to submit using face authentication
Submission of life certificate: The person must be an Employees’ Provident Fund Organisation (EPFO) member. EPS members can submit a life certificate at Pension Disbursing Bank, online, Common Service Centre, IPPB, Indian Post Office, Postman, Umang app, Nearest EPFO office.
Do international employees still have to make EPF contributions after Karnataka High Court ruling?
Karnataka High Court's April 25, 2024 ruling deemed special provisions for International Workers under EPF Scheme unconstitutional, affecting EPF contributions, retirement age eligibility, and equality before law for these workers.
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.
Karnataka HC strikes down extension of PF benefits to international workers
Karnataka High Court rules EPF and EPS benefits for foreign workers in India unconstitutional under Article 14, making all related orders unenforceable. The Court made a decision regarding a group of appeals (Stone Hill Education Foundation vs The Union of India) that contested the validity of para 83 of the EPF Scheme and para 43A of the EP Scheme, which were applied to foreign workers in 2008.
EPFO to challenge HC ruling against inclusion of foreign workers under its ambit
In a recent judgement, the high court termed the EPF scheme provisions covering 'international workers' unconstitutional if international workers earning several lakhs are required to contribute to provident fund on their full salary, whereas the contribution is capped at Rs 15,000 for Indians working overseas.
EPFO evaluates course of action on Karnataka HC judgement on foreign workers
"While holding the highest regard for the Court's decision, the EPFO (Employees' Provident Fund Organisation) is actively evaluating the course of action in response to this judgement," the EPFO said in response to the queries pertaining to the judgement.
Inclusion of foreign workers in PF unconstitutional, says High Court
The move, which is likely to be challenged by govt and the Employees Provident Fund Organisation (EPFO), will impact thousands of expatriates who have contributed to the social security scheme or are currently part of it.
Our overall AUM contributing to huge top and bottom line growth: Sanjay Shah, Prudent Corporate Advisory
So, I think we are very confident that SIP is an evolving story for the retail people and there is a strong TINA factor because there is no alternative for people to invest a small-small amount other than the SIP from a very longer-term perspective.
HC strikes down inclusion of foreign workers in PF, calls it unconstitutional
HC's call will likely face resistance from the govt and the PF body because already a large number of expats have either contributed to or are currently enrolled in the social security program.
Atal Pension Yojana account: Now you can open APY account at 3 CRAs
Atal Pension Yojana account: The Central Recordkeeping Agency (CRA) serves as an operational interface for all intermediaries and is in charge of the centralised recordkeeping, administration, and customer support responsibilities for all NPS & APY subscribers under the NPS architecture.
Sebi to provide flexibility to Venture Capital Funds to deal with unliquidated investments
Markets regulator Sebi on Tuesday decided to provide flexibility to Venture Capital Funds (VCFs) to deal with unliquidated investments of their schemes beyond the expiry of tenure.
New EPF rule on auto withdrawal claims under 68J; check details
EPF withdrawals: The Employees' Provident Funds Organisation (EPFO) has increased the qualifying limit of Paragraph 68J claims for auto claims processing. EPF subscribers can apply for an advance under Paragraph 68-J of the EPF Scheme for their own and their dependents' medical expenses.
Automatic EPF account transfer from old to new job: How EPFO's facility works
Automatic EPF account transfer: Employees Provident Fund (EPF) members can now automatically transfer their provident fund accounts from their old employer to new employer. However, this facility is available to certain EPF members only satisfying certain conditions. Read on to know to whom automatic EPF account transfer facility is available and how it works.
Wage ceiling under EPFO may be raised to ₹21k
The government is contemplating enhancing the wage ceiling under the Employees' Provident Fund Organisation (EPFO) to at least ₹21,000 from ₹15,000 now to widen the social security coverage, a step towards achieving universal social security.
PPF deposit: Finding it difficult to deposit money in your PPF account online? Here are different ways to invest before the April 5 date
How to invest in PPF: Those investing in the Sukanya Samriddhi Yojana (SSY) and the Public Provident Fund (PPF) should ensure that their contributions are deposited into the accounts before April 5 in order to maximize returns for the ongoing financial year, 2024-25.
Innoviti Technologies to raise Rs 115 crore by April end
Innoviti Technologies secured funding for mid-market expansion, aiming for profitability by Sep 2024. It provides SaaS tools to enterprise brands like Reliance and plans to initiate IPO proceedings.
Can NRIs continue to operate their PPF accounts?
NRIs navigating PPF accounts encounter restrictions and guidelines, from tax benefits to closure procedures. Understanding these rules is crucial for managing accounts effectively while maximizing investment returns and complying with regulatory requirements.
EPF members can do KYC, correction in provident fund account online: Here is a step-by-step guide to do it
Correction in EPF details online: It may happen that an employee details such as name, gender, date of birth, father/mother's name etc. in the EPFO records are wrong. This may be due to spelling errors or wrong details mentioned in the EPF records. The EPFO has launched an online facility to correct KYC details online. Here is a step by step guide on how to use online KYC facility to correct details.
Budget 2024: Govt's formal job scheme may get extension
The government is considering extending the Aatmanirbhar Bharat Rozgar Yojana (ABRY) in the upcoming interim budget, according to anonymous sources. The scheme, which subsidizes provident fund contributions to encourage job creation, is set to conclude in March 2024. Over half of the allocated funds remain unspent.
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