Page 4 - Provident Fund
EPFO defers filing of PF return with Aadhaar seeded UANs till September 1
Retirement fund body EPFO on Tuesday deferred implementation of its order mandating filing of PF returns with Aadhaar-verified universal account numbers (UAN) till September 1, 2021. This will give more time to employers to link their employees Aadhaar number with PF accounts or UAN. Earlier, the EPFO had set the deadline of June 1, 2021. The date of implementation for filing ECR (electronic challan cum receipt or PF return) with Aadhaar verified UANs has been extended to September 1, 2021, showed an office order issued by the Employees' Provident Fund Organisation (EPFO). The EPFO had issued office order for the field staff on June 1 saying that the ECR shall be allowed to be filed only for those members, whose Aadhaar numbers are seeded and verified with the UAN, with effect from June 1, 2021. The EPFO had decided to make Aadhaar seeding compulsory after a labour ministry notification in this regard. A notification was issued by the labour ministry on May 3, which mandated the .
 "EPFO defers filing of PF return with Aadhaar seeded UANs till September 1")
Rejig wage structure to benefit from EPF rule change, say analysts
If employer contribution is low, get salary restructured to enjoy higher tax-free interest
 "Rejig wage structure to benefit from EPF rule change, say analysts")
Finance Bill gives relief on digital tax, provident fund threshold
Tax breaks for DFIs; way for LIC listing cleared
 "Finance Bill gives relief on digital tax, provident fund threshold")
Budget proposals will ease taxpayers' burden from April 1, say experts
But changes like taxation of EPF contributions above Rs 2.5 lakh will pinch the wallet
 "Budget proposals will ease taxpayers' burden from April 1, say experts")
Non-govt PFs, gratuity funds can invest in alternative investment funds
Finmin notifies changes to the investment pattern of these funds
 "Non-govt PFs, gratuity funds can invest in alternative investment funds")
Top headlines: Rich PF investors may opt for debt funds, GST slab merger
Following the backlash it received for the update to its privacy policy in early January, WhatsApp will now let users take a better look at the changes that have been proposed. Read top news here
 "Top headlines: Rich PF investors may opt for debt funds, GST slab merger")
Wealthy PF investors may opt for debt funds as Budget changes tax rule
Budget proposes that interest on the PF contributions (employee contribution) above Rs 2.5 lakh per annum be taxable with from April 1, 2021
 "Wealthy PF investors may opt for debt funds as Budget changes tax rule")
If you want higher returns, and are prepared for volatility, opt for NPS
But be ready for lock-in till the age of 60, volatility, mandatory annuitisation
 "If you want higher returns, and are prepared for volatility, opt for NPS")
Sheen diminished for VPF, but not lost: Here's how should you invest?
Only PPF and Sukanya Samriddhi offer higher returns among govt-backed schemes
21.5% growth in direct tax revenue for FY22 a realistic goal: CBDT chairman
In a Q&A, P C Mody says while income tax slabs have been left untouched, more money is being put in the hands of taxpayers with faster refunds. Tax administration reforms will boost tax compliance
 "21.5% growth in direct tax revenue for FY22 a realistic goal: CBDT chairman")
Interest on employee's PF contributions over Rs 2.5 lakh to be taxed
One per cent of EPF contributors to be affected
 "Interest on employee's PF contributions over Rs 2.5 lakh to be taxed")
Interest earned on PF contributions above Rs 2.5 lakh to be taxable: Budget
Employers who delay the deposit of workers' share of social security contributions like employees' provident fund will not be able to claim the amount as deduction from their income
Govt offers PF subsidies to employers in Atmanirbhar job incentive scheme
Sop available in the case of both, new hires and those who lost their jobs to Covid; Atmanirbhar Bharat Rozgar Yojana will benefit workers with wages up to Rs 15,000
 "Govt offers PF subsidies to employers in Atmanirbhar job incentive scheme")
Gig workers to make PF contribution, get social security for first time
Over 1 million workers set to join new regime in first year
 "Gig workers to make PF contribution, get social security for first time")
EPFO sees three-fold rise in provident fund withdrawal claims through app
The Union Labour and Employment Ministry said in a statement that the EPFO received 1.1 million claims between April and July 2020 through the UMANG mobile application
 "EPFO sees three-fold rise in provident fund withdrawal claims through app")
EPFO allows regional offices to settle PF claims from other centres
Since April 1, EPFO has been settling claims for withdrawal of special Covid-19-related advances within three days. It has settled over 80,000 claims amounting to Rs 270 cr on daily basis since April
EPFO launches multi-location claims settlement facility to expedite process
The facility will bring a paradigm shift by allowing EPFO offices to settle online claims from any of its regional office across the country, the labour ministry said in a statement.
RBI stops 7.75% bond: Here're some fixed-income options for senior citizens
PMVVY, SCSS, PPF and Bharat Bond are instruments senior citizens can turn to
 "RBI stops 7.75% bond: Here're some fixed-income options for senior citizens")
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
 "Diversify your investments beyond bank FDs to counter declining rates")
Net enrolments with EPFO dip to 5.72 lakh in March from 10.21 lakh in Feb
The data also showed that during September 2017-March 2020 period, the number of net new subscribers was around 1.55 crore
 "Net enrolments with EPFO dip to 5.72 lakh in March from 10.21 lakh in Feb")
