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Sunday, December 05, 2021

Employees Provident Fund Organisation

EMPLOYEES PROVIDENT FUND ORGANISATION NEWS

Finance ministry approves 8.5% interest on PF deposits for FY 2020-21

October 30, 2021 7:16 am

The interest rate is understood to have been decided on an income of Rs 70,300 crore from sale of debt and equity investments, leaving a surplus of around Rs 300 crore with the EPFO.

Explained: What increase in taxable Provident Fund limit means for you

March 30, 2021 8:35 am

While in the Budget 2021-22, the finance minister had proposed to tax interest income on own contribution of employees exceeding Rs 2.5 lakh a year, the government in its amendments to the Finance Bill 2021, proposed to raise the limit to Rs 5 lakh.

EPFO board meet today: Sub-8.5% rate may be finalised

March 04, 2021 4:58 am

The Board is likely to consider a lower interest rate than the seven-year low of 8.5 per cent paid out to its subscribers for the previous financial year.

EPFO starts crediting 8.5% interest for 2019-20, to reflect in EPF accounts from January 1

December 31, 2020 8:00 pm

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, news agency PTI said quoting a senior official.

Split plan scrapped, EPFO to credit interest by month-end in one go

December 11, 2020 4:56 am

The Central Board of Trustees of the EPFO had in September recommended splitting payment of the interest rate of 8.5 per cent recommended for financial year 2019-20 into two parts, citing “exceptional circumstances arising out of Covid-19”.

Govt to bear 2 years’ share of PF for laid-off, new workers

November 13, 2020 12:20 am

The contribution of 24 per cent for both employers and employees for establishments employing up to 1,000 employees will be borne by the Centre and for establishments employing more than 1,000 employees, 12 per cent of the employees’ share will be contributed by the government.

EPFO looks at criminal action to recover stressed investments

September 16, 2020 9:45 am

At its meeting last week, the Central Board of Trustees (CBT) chalked out a plan of action after discussing the status reports of the risky investments spread across companies including Reliance Capital, DHFL, IL&FS, Yes Bank, Indiabulls and IDFC, three CBT members said.

EPF members withdraw Rs 39.4K crore during Mar 25-Aug 31; highest from Maharashtra

September 15, 2020 11:54 am

Members of Employees’ Provident Fund Organisation (EPFO) were also allowed relaxation in March regarding withdrawal of their funds to mitigate financial difficulties posed by the pandemic.

EPFO Central Board set to okay offloading part of ETFs to meet FY20 interest payout

September 08, 2020 11:37 am

The Central Board of Trustees, in March, recommended an interest rate of 8.5% for 2019-20, a 15 basis point downward revision from the 8.65 per cent offered in the previous year.

EPFO net new enrolments at 6.55 lakh in June, same as monthly average of last year

August 21, 2020 11:28 am

New subscribers of the retirement fund body increased to 4.98 lakh in June from 3.03 lakh in May, the Labour Ministry said in a statement.

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