The government on March 26,2020 announced that you can withdraw a certain amount from your Employees’ Provident Fund (EPF) corpus, if you are facing financial problems due to the coronavirus-related lockdown. The government has notified the amendment in rules regarding withdrawal of funds from EPF accounts for COVID-19-related financial exigencies. As per the amended rules, an EPF […]Continue Reading..
EPFO (Employees’ Provident Fund Organisation) has come up with a big update for its users. In a recently issued notification EPFO has said that it would accept Aadhaar as proof of birth. The announcement was made on Sunday by the Central Ministry of Labour in this regard. Now, EPFO would allow Aadhaar card as a valid proof to rectify their […]Continue Reading..
The Employees’ Provident Fund Organisation (EPFO) has allowed people to correct discrepancies in age-proof documents online to help 90% of its 60 million subscribers under the Rs 15,000 a month salary bracket as many of them were unable to produce valid papers to withdraw money from their accounts under the relaxed norms announced as part […]Continue Reading..
Coronavirus epidemic and India Lockdown of the entire country have created many problems for common people. The work of many people is complete. The economy has suffered a severe setback and people are struggling with a cash crunch. There will be many people who may need or are in need of money in this situation. […]Continue Reading..
Finance minister Nirmala Sitharaman on Thursday announced a one-time non-refundable advance for provident fund subscribers, who can get up to 75% of their contribution or three months wages, whichever is lower. Employees’ Provident Fund Organisation answers some queries. How will an EPFO subscriber be able to use the facility? An advance under the amended paragraph can be […]Continue Reading..
Retirement fund body EPFO on Monday said it has issued directions for timely credit of monthly pension to over 65 lakh employees’ pension scheme (EPS) beneficiaries amid the coronavirus outbreak. The Employees’ Provident Fund Organisation (EPFO) disburses monthly pension to over 65 lakh pensioners every month under the EPS. “Due to the coronavirus pandemic, lockdown […]Continue Reading..
I am 68 and still working. I have some investments in bank FDs and mutual funds that can take care of my expenditure after retirement. My PPF account is maturing on 31 March, with a corpus of Rs 25 lakh. I have already extended the tenure of my PPF account for two five-year terms. What are the short term options […]Continue Reading..
If you work in an organized sector company, then you will have to go to the EPFO office in connection with the work related to PF. However, amid the current crisis of corona virus, the department has asked EPF Subscribers and Pensioners to avoid coming to the EPFO office. It is noteworthy that Employees’ Provident Fund Organization […]Continue Reading..
This is good news for millions of employees across the country. EPFO (Employees ‘Provident Fund Organization) and ESIC (Employees’ State Insurance Corporation) have made some new announcements in the interest of employees. They will benefit a large number of employed people. These announcements mainly cut employee contributions, which will benefit many people. About these EPFO , ESIC Ministry of Labor, Ministry of Labour and EPFO […]Continue Reading..
In a setback for salaried employees, the Employees’ Provident Fund Organization (EPFO) is likely to offer a lower rate of return on EPF accounts in financial year (FY) 2019-20. On 5 March 2020, the Central Board of Trustees of EPFO proposed to lower the rate of interest from 8.65% offered in FY19 to 8.50%, subject […]Continue Reading..