Provident Fund Withdrawal

EPFO 3.0 coming soon? Flexible savings, ATM PF withdrawals in the pipeline

In its updated version, the EPFO will allow employees to contribute amounts exceeding the prescribed limit at any time, offering greater financial flexibility to subscribers

Goyal asks realtors to ensure ESIC, PF registrations for 70 mn people

Union Commerce and Industry Minister Piyush Goyal on Tuesday asked the real estate industry to provide guaranteed ESIC and provident fund registrations for 7 crore people working in this sector, besides adopting new form of construction process for fast project execution with less pollution. Addressing an event organised by realtors' apex body CREDAI here, he also asked India Inc, including realty firms, to set up manufacturing facilities for construction equipment to make India self-reliant. "I urge you to kindly think about this in very serious terms... can we ensure a guaranteed ESIC and provident fund registration of all these 70 million workmen and women (working in this sector)," Goyal told real estate players. He asked the CREDAI to come out with a resolution on November 25, when the association will celebrate its 25 years, after extensive stakeholder discussions with its 14,000 members. Goyal said there are many positive impacts if industry ensures guaranteed ESIC and PF ..

Budget 2024: Centre may hike Provident Fund limit to Rs 25k after a decade

Budget 2024: For the Provident Fund, the current limit of Rs 15,000 came into effect after the wage ceiling for coverage was revised almost a decade ago in September 2014

Explained: EPF auto-settlement rules for medical, education, housing claims

To ease the life of Employees' Provident Fund (EPF) members, the EPFO has eased the rules of auto-settlement for medical claims, education, marriage and housing

Online provident fund withdrawal: Steps, eligibility, documents needed

Complete withdrawal is allowed when an individual retires or remains unemployed for more than two months

EPFO fixes 8.25% interest rate on employees' provident fund for 2023-24

Retirement fund body EPFO on Saturday fixed a three-year high interest rate of 8.25 per cent on employees' provident fund (EPF) deposits for 2023-24. In March 2023, the Employees' Provident Fund Organisation (EPFO) had increased the interest rate on EPF marginally to 8.15 per cent for 2022-23 from 8.10 per cent in 2021-22. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its over six crore subscribers, from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent. "The EPFO's apex decision making body Central Board of Trustees (CBT) has decided to provide 8.25 per cent rate of interest on EPF for 2023-24 at its meeting on Saturday, a source said. The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by CBT in March 2021. After the CBT's decision, the interest rate on EPF deposits for 2023-24 will be sent to Ministry of Finance for concurrence. After th

Withdraw PF and EPF: Process to receive amount in your bank account

EPF members may present their withdrawal or transfer claims both offline and online. The members can view the progress of their EPF claims online no matter how they have submitted their application

Diversify your investments beyond bank FDs to counter declining rates

Invest in a mix of small savings products, debt funds with quality portfolios to counter declining rates

Covid-19 outbreak: Update insurance, tax and KYCs amid lockdown 4.0

Utilise the relaxed phase to complete unfinished tasks on personal finance agenda

It's a better option to take advance EPF than a loan during tough times

The usual advice is that one should not withdraw from their EPF account because it hurts the retirement corpus

Covid-19 impact: NLC, TCS employees top EPF advance withdrawal list

The top firms which saw the highest amount of applications for EPF advance withdrawal were TCS (9,373 employees), HCL Technologies (6,938) and NLC (3,255)

Enrolments with EPFO dips to 10.34 lakh in Feb from 10.71 lakh in Jan

EPFO has been releasing the payroll data or new subscribers data since April 2018, covering a period starting from September 2017

EPFO settles 137,000 withdrawal claims to ease Covid-19 lockdown woes

Withdrawal claims worth Rs 280 crore has been settled in the past 10 days

Workers facing financial stress can withdraw 75% from EPF corpus: Know how

FM Nirmala Sitharaman on Mar 26 announced amendment in the EPFO regulation to allow employees withdraw up to 75% of their corpus as non-refundable advance, or 3 months' basic salary, whichever us less

Unemployed for over a month? Withdraw 75% of your PF, says Labour Ministry

The requirement of the two-month waiting period will not apply in cases of female members resigning from services of the establishment for purpose of getting married

If you want security benefits, don't fully withdraw provident fund: EPFO

EPFO further said that PF money aimed at social security benefit and people should not treat it like a bank account