Epfo Interest Rate

Over 1.7 mn opt for higher pension on more contribution under 'EPS-95'

As many as 17.49 lakh members of retirement fund body EPFO have applied for the option to contribute on their actual (higher) basic pay for eventually getting higher pension after an apex court order in November 2022, Parliament was informed on Monday. Presently, these applicants are either contributing or contributed on fixed threshold of Rs 15,000 per month, irrespective of their higher actual basic wages. "In implementation of the judgement on November 4, 2022 passed by Supreme Court, an online facility was provided by EPFO, wherein total 17.49 lakh applications for Validation of Option/Joint Options were successfully submitted by the applicants," stated Minister state of Labour & Employment Shobha Karandlaje. On November 4, 2022, the Supreme Court ruled in favour of existing employees being able to opt for a higher pension under the Employees' Pension Scheme (EPS), 1995. The Employee Pension Scheme 1995 (EPS-95), which the Employees' Provident Fund Organisation (EPFO) ...

How much tax do you have to pay on income from EPF? All scenarios explained

According to the rule change announced in the Union Budget 2021, effective from April 1, 2021, interest earned on employee contributions to EPF exceeding Rs 2.5 lakh per annum is taxable

EPF members now receiving FY 2023-24 interest payments: Here's how to check

Pension manager says it has settled more than 2.304 mn claims and disbursed an amount of Rs 9,260 crore

Your EPF money is set to rise at faster rate, 8.25% interest highest in 3 yrs

In 2021-2022 and 2022-2023, the EPF interest rates were 8.1 per cent and 8.15 per cent, respectively, which means the 2023-2024 interest rate is the highest in three years.

8.15% Interest for EPFO subscribers 'in pipeline', to be credited 'shortly'

The interest rate on EPF is reviewed annually, and for the fiscal year 2022-23, it is set at 8.15 per cent, up from the 7.59 per cent interest rate provided in FY22.

EPF: When can you withdraw, how is the money taxed, and how to avoid it

Withdrawals before five years are tax-free in cases of serious illness, employer discontinuation of operations, withdrawals not authorized by the employer, and advances under the EPF Scheme

EPFO wage ceiling likely to be raised from Rs 15,000 per month to Rs 21,000

The ceiling was last revised in 2014 from Rs 6,500 per month to Rs 15,000 and is applicable only to enterprises that have more than 20 workers

EPFO board recommends extending proportionate pension benefits to members

Decision to extend pension scheme beyond 35 years of service taken in 232nd CBT meet on Monday; withdrawal benefits available even to those who've contributed for less than six months

How to check pension status on EPFO portal: Here's a step-by-step guide

Any EPF pensioner can get the PPO number using either the bank account number or PF number

Fresh formal job creation falls below 1-million mark in August: EPFO

The unemployment rate shot up to 8.3 per cent, which was the highest, compared with the rates in the past 12 months

EPFO looks to hire law firms to provide legal opinion, associated services

The approved law firms will be empanelled with the EPFO headquarters in New Delhi for an initial period of one year, which can be extended to three years

EPFO e-Passbook: How to download, check balance and other details

The current EPF interest rate is 8.1%

Explained: How is EPF interest calculated?

Provident fund interest rate for FY22 lowered to four-decade low of 8.1%

EPFO has a surplus of around Rs 450 cr after paying at a rate of 8.1%. Employee representatives sought higher interest rates but the Central Board of Trustees settled for 8.1%

CPI leader Binoy Viswam urges FM to reconsider EPFO rate slash

In a letter he wrote to the minister, Viswam accused the BJP-led government of showing its true colours just after the party secured electoral victories in four states

EPFO to take call on interest rate for 2021-22 in March meeting

In March 2020, EPFO had lowered interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.

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EPFO stops correction in member profiles online over fraudulent withdrawals

The organisation in its circular, issued ahead of 2020-21 interest announcement, has ordered its field offices to not entertain any such request for correction in name

EPFO begins crediting 8.5% interest for 2019-20; to reflect from Jan 1

Retirement fund body EPFO on Thursday started crediting 8.5 per cent rate of interest on employees' provident fund (EPF) for 2019-20 for its over six crore members, a senior official said. A large number of members of the Employees Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent rate of interest for 2019-20, a senior official told PTI. The official further informed that the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO and the body has already started crediting interest into members account for the last fiscal. Labour Minster Santosh Gangwar said, "We had said that it would be our endeavour to provide 8.5 per cent rate of interest on EPF for 2019-20. We have issued a notification to provide 8.5 per cent rate of interest on EPF for 2019-20. We have also began the process to credit the said rate of interest into subscribers account." The minister also sai

EPFO likely to credit 8.5% interest for 2019-20 by December in one go

In March this year, the EPFO's apex decision making body Central Board of Trustees headed by Labour Minister Santosh Gangwar had approved 8.5 per cent interest rate on EPF for 2019-20