Page 6 - Provident Fund

Govt wants to reduce PF contribution to increase take-home salary

The labour ministry has proposed to reduce the contribution of employer's contribution to Employee Provident Fund (EPFO) from 12 percent to 10 percent. The proposal which will be opposed by the trade unions, will come up for approval in the meeting of Central Board of Trustees meeting tomorrow.The move according to the labour ministry will improve the take home salary of an employee. But trade unions who are opposing the move termed it as an attack on the social security.According to the agenda paper of tomorrow's meeting The EPFO's central board of trustees will consider a proposal to lower "the rate of contribution to be paid by employer and equal contribution by employees from the present 12% to 10% by issue of appropriate order by the Central Government." The Employees' Provident Fund and Miscellaneous Provisions Act 1952 empower the Central government to lower the contribution rate towards EPFO schemes and the government intends to issue a notification to effect the change.The ...

You can shift back to EPF after porting to NPS

On rejoining, the subscriber will not be eligible for benefits accumulated in his previous tenure

Conduct special audit of PF trusts: Panel to labour ministry

The private trusts, regulated by the EPFO, maintain PF accounts and retirement savings

Now, you can draw easily from GPF for education, housing. But should you?

Touch your pension fund only in case of dire need, not to fund consumption expenditure

Funds transferred from PF to NPS not taxable: PFRDA

Employee planning to transfer PF funds will have to approach Provident Fund through current employer

PF deposits to fetch lower returns as EPFO cuts rates to 8.65% for 2016-17

It is 0.15% less than the last financial year

Bring Pensions under one authority to boost coverage: Regulator

FRDA Chairman reiterated that bringing about tax parity between the NPS and the EPF scheme would provide a boost to the subscriber base.

More than 10,000 companies have defaulted on PF payments nationwide

PFs are meant to provide financial security to salaried employees, who must contribute 12 per cent of their monthly salary with employer contributing 13.6 per cent

Labour Ministry in favour of raising EPFO's investment in ETFs

The issue of increasing investments in ETFs is expected to be taken up on Friday

Withdraw provident fund only for medical emergency

While govt has decided to maintain status quo, don't use the money for house, marriage or education

Govt tightened PF withdrawal norms unilaterally: Unions

It had led to unrest and violent protest in Bengaluru.

EPFO tightens norms for withdrawal of Provident Fund

Users will be unable to withdraw the corpus after turning 54; they will have to wait till the age of 57