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The Employee Provident Fund (EPF) is an excellent tool for salaried to accumulate funds for their retirement. Income tax has implications at the time of contributions, interest earned as well as withdrawal of balance. Let us discuss the income tax implications of EPF contributions and withdrawals. Contribution stage The employer deducts you EPF contribution @ […]
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Public Provident Fund (PPF) is a 15-year investment scheme under which an investor enjoys tax exemption at the time of deposit, accrual of interest and withdrawal. Though PPF has a lock-in period of 15 years, you can make extension in a block of 5 years for tenures upto 20, 25 and 30 years. However, for specific […]
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The Public Provident Fund (PPF) is one of the most popular fixed-income investments in the country. The popularity is mainly because PPF offers a sovereign guarantee on the principal and interest earned, returns are tax-free and additionally, the investment made in PPF qualifies for tax benefit Section 80C. It is known that compounding works best […]
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The statutory organisation under Labour and Employment Ministry, Employees’ Provident Fund Organisation (EPFO) has issued a clarification on an article published in a section of media on 18.11.2020 under the caption “EPFO subscribers, firms down in Oct”. In this regard, EPFO has categorically clarified that the information contained in the article is incorrect and unsubstantiated. […]
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Public Provident Fund (PPF) is inarguably one of the safest investment options for decent returns over a period of time. It is very popular among service class. PPF provides tax benefits under section 80 C of the Income tax and the interest earned and the principal amount on maturity does not attract any tax deduction. It has been designed to accomplish a long-term target of an individual and is seen […]
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EPFO is one of the world’s largest social security organisations in terms of clientele and the volume of financial transactions undertaken, its website claims. As per the 2016-17 Annual Report, the retirement fund body maintains over 19.34 cr accounts. But, do you know why your provident fund is so important for you as an individual? Your employer might […]
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The Employees’ Provident Fund Organisation (EPFO) will allow pensioners to submit their digital Pramaan Patra at any time during the year as per their convenience and not just during the months of November & December. The life certificate will remain valid for one year from the date of submission. For example, The Digital Life Certificate […]
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Six crore members of the Employees Provident Fund Organization (EPFO) in two installments in 2019-1. It was decided to pay interest for the financial year and the first installment could be transferred to the shareholders’ account till Diwali. EPFO has to pay interest at the rate of 7.50% on PF. He will pay 7.15 per […]
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Retirement fund body Employees’ Provident Fund Organisation (EPFO) allows subscribers to submit their Provident Fund (PF) account’s nomination details online via its official portal- unifiedportal-mem.epfindia.gov.in. Employees’ Provident Fund (EPF) is a mandatory contribution from every employee towards his or her retirement savings. According to EPFO’s portal- it is important to nominate members to the EPF account. Then […]
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Retirement fund body, the Employees’ Provident Fund Organisation (EPFO) recently launched a WhatsApp helpline service for its members. According to a statement issued by the Ministry of Labour and Employment on October 13, 2020, “This facility has been given in addition to the various other means of grievance redressal forums of EPFO which include web-based […]
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