All you want to understand about the Employees' Provident Fund.

All you want to understand about the Employees' Provident Fund.


The Employees' Provident Fund (EPF) is a financial savings device for the workforce. It is a scheme managed beneath the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, via the Employees' Provident Fund Organisation (EPFO).


Under the EPF scheme, an worker has to pay a sure share from his pay and an equal quantity is contributed by means of the employer. The worker receives a lump sum quantity (which consists of his personal and employer's contributions) with activity upon retirement or two mont .

Currently (2017-18), the EPF hobby charge stands at 8.55 per cent. In phrases of returns from a debt instrument, EPF fares better. The cash is sovereign-backed and the hobby earned is tax-free. In fact, it enjoys the exempt-exempt-exempt (EEE) repute as contributions are deductible from income.


If you prefer to comprehend extra about the EPF, right here are articles that cowl a vary of matters like how to calculate your provident fund (PF) balance, how to take a look at your EPF balance, advantages of hyperlink .


Lowering of PF contribution proposed: Here is how it will have an effect on you.

The authorities is thinking about to decrease the price of contribution closer to EPF. This can have an have an impact on on your take-home pay and on the corpus amassed at the time of retirement. Further, the cost-to-company (CTC) will change.

How to examine your PF statement.


At the give up of the monetary year, the agency shares the PF declaration with the personnel after receiving them from the Employees' Provident Fund Organisation (EPFO). To get a specified breakup, you want to get your hand on a replica of the PF declaration the place you will discover records of each worker and enterprise contributions and different small print which includes hobby earned at some point of the 12 months in a consolidated form.


PF subscribers may also get desire of investments for greater returns.


Provident fund subscribers may additionally quickly have flexibility to park their financial savings in equity, debt or a mixture of each as per their choice, with the labour ministry firming up a coverage to do away with the present cap on investments.

Employee now not in employment for a month can withdraw 75% of EPF money.

An employee who is now not in employment for a month, can also be allowed to avail seventy five per cent of the whole fund standing to his credit.


New Provident Fund regulations defined and how they would influence you.

Rules for subscribers of Employees Provident Fund Organisation (EPFO) have been modified to make the scheme extra user-friendly.


EPFO nod possibly quickly for minimal Rs 2,000 EPS pension.

The Employees Provident Fund Organisation  EPFO is anticipated to quickly supply its go ahead to the inspiration of doubling month to makeonth pension for EPS subscribers to Rs 2,000.


EPF regulations are altering substantially: How will you be impacted?

Apart from current tweaks in rules, new measures proposed ought to trade the EPF's very structure. So will the adjustments decorate the utility of the EPF or depart subscribers handicapped.

EPFO directs places of work to pay greater pension to eligible EPS members.

The EPFO has started out pushing its offices to supply greater pension to these EPF individuals who are eligible for it primarily based on a landmark judgement by means of the Supreme Court in October 2016. The apex court's judgement had directed the EPFO to revise the pension on greater wages of the petitioners below EPS.


Wage ceiling might also be hiked to increase EPS net.

The Central Board of Trustees, the absolute best decision-making physique of EPFO, had permitted raising the wage cap for obligatory EPF cowl to Rs 25,000 per month for organised-sector employees lengthy in the past however the labour ministry determined to elevate it to Rs 21,000.


Govt to make a contribution to EPF solely for new personnel registered until Mar 31, 2019.

Government of lndia will pay the full employers contribution (EPF and EPS both)  01.04.2018 for a length of three years to the new personnel and present beneficiaries for their ultimate duration of three years via EPFO.


Is your name, delivery date in PF now not matching with Aadhaar? Here's how to right it.

At times, the title and date of delivery in the provident fund (PF) declaration is no longer right and does now not in shape with what is there in your Aadhaar details. This can then end result in useless delays and hassles when you attempt to withdraw the cash at the time of retirement.


Linking UAN to Aadhaar makes PF declare agreement faster. Here are three methods to hyperlink them.

Although it is nonetheless now not obligatory for one to hyperlink their UAN to Aadhaar, doing so can make existence easier and the claims agreement method can be a breeze. UAN has been made obligatory for all personnel and it helps in managing the EPF account, and has made transferring and withdrawing PF cash easier. There are three way to hyperlink UAN to Aadhaar, furnished the UAN is active.


EPFO contributors to get alternative to hike investments in ETFs by means of this fiscal.

The Employees Provident Fund Organisation plans to deposit ETF investments in the PF debts in about three months, thereafter it would supply an choice to the subscribers to hike or reduce investments in ETFs from their funds.

Reversing stand, EPFO to take delivery of offline PF claims of over Rs 10 lakh now.

Reversing its before decision, the EPFO has determined to receive provident fund withdrawal claims of over Rs 10 lakh by bodily types submitted offline. In a until now round the EPFO had issued guidelines to its places of work to permit submission of PF claims of over Rs 10 lakh solely online.

Aadhaar-verified digital existence certificates no longer have to for pension: EPFO.

If you are concerned about dropping your pension gain due to non-submission of Digital Life Certificate or Jeevan Pramaan, then the Employees' Provident Fund Organisation (EPFO) has accurate information for you. The EPFO issued a round on March 23, mentioning that pensioners who have been unable to post digital existence certificates ought to now not be disadvantaged of pension they are entitled to receive.


EPFO cuts hobby fee to 8.55% for 2017-18 from 8.65% for 2016-17.

Retirement fund physique Employees’ Provident Fund Organisation (EPFO) has decreased activity price on deposits to 8.55 percentage for the monetary yr 2017-18 following a conventional decline in pastime rates.


No disagreement with Finmin on 8.55% activity on EPF, says Santosh Gangwar.


Labour Minister Santosh Gangwar has stated that there is no disagreement with the finance ministry on presenting 8.55 per cent fee of pastime for 2017-18 to over 5 crore subscribers of retirement fund physique EPFO.


EPFO to inform participants about contributions now not deposited by using employer.

Retirement fund physique EPFO on Wednesday stated that it will inform its subscribers if contributions are no longer deposited through their employers with the physique for a given month in due time.


Why you ought to assume past EPF, PPF to store for your retirement.

The hobby price on Employees' Provident Fund (EPF) for the economic yr 2017-18 will be reduce to 8.55 per cent from 8.65 percent. For FY 2015-16, it used to be 8.8 per cent 2015-16. Indian traders nonetheless predominantly use constant earnings merchandise to retailer for long-term dreams like retirement. But with these long-term, tax-efficient merchandise imparting decrease returns in contrast to fairness products, what ought to any individual saving for retireme ..


How EPFO plans to bypass on fairness positive factors to subscribers.


Till 2014-15, the EPFO invested solely in fixed-income instruments. The annual pastime that is paid out is based totally on the pastime earned from the constant earnings investments. The features from the fairness investments are but to be surpassed on to subscribers as the methodology is nonetheless to be labored out. The proposed methodology for passing on features from equity investments is possibly to be carried out quickly as the system has been accepted .


No disagreement with Finmin on 8.55% pastime on EPF, says Santosh Gangwar.

Labour Minister Santosh Gangwar has stated that there is no disagreement with the finance ministry on supplying 8.55 per cent fee of hobby for 2017-18 to over 5 crore subscribers of retirement fund physique EPFO.


Over eight crore EPFO bills have no beginning date, eleven crore lacking father's name.

The authorities had currently mentioned that there are over 8.38 crore EPFO money owed which do now not have date of delivery of subscriber and in 11.07 crore accounts, father's identify of the contributors is missing.


Bonanza probable for Employees’ Pension Scheme pensioners.

The authorities can also quickly double minimal month-to-month repayments underneath the Employees’ Pension Scheme (EPS) of the Employees' Provident Fund Organisation (EPFO) to Rs 2,000 to make stronger the social protection internet for pensioners.


Minimum debt funding ofEPF dollars reduced: Here's what it capacity for you.

The authorities has decreased the minimal funding flooring mandated for debt securities and time period deposits of banks to 20% from the current 35%. This capacity that EPFO now has increased flexibility in investing your EPF in debt. This cross might also be aimed at permitting EPFO to limit publicity to unstable company debt when investing your EPF money.


Govt hikes minimal existence insurance plan for EPF-covered personnel from Feb 15, 2018.

The Employees' Provident Fund Organisation (EPFO) has superior the minimal assurance restrict beneath its Employees' Deposit Linked Insurance Scheme (EDLI) thru a gazette notification dated February 15. Thanks to this, if you are a contributing member of the EPF, the purpose to continue to be a section of the EPFO good points ground.

Budget 2018 proposal: New female people take domestic pay to go up as EPF contribution capped at 8%.

The finance minister providing the Budget 2018 introduced that to incentivize employment of extra ladies in the formal zone and to allow greater take-home wages, amendments in the Employees Provident Fund and Miscellaneous Provisions Act, 1952 will be made to minimize girls employees' contribution to 8% for first three years of their employment towards present fee of 12% or 10% with no chang ..


EPF, PPF hobby charge hole widens to one zero five foundation points: Self-employed category disadvantaged.

The current reduce in Public Provident Fund's (PPF) activity fee to 7.6 percentage will increase the hole between this and the Employees' Provident Fund (EPF) price to a big one hundred and five groundwork factors (bps). The distinction would continue to be enormous thereby disadvantaging the self-employed type in phrases of retirement savings.

Can you additionally get a manifold hike in lifetime pension from EPFO? Find out.

It all started out in 2005, when following media reports, numerous non-public EPF fund trustees and personnel approached EPFO with the demand to do away with ceiling on their EPS contribution and elevate it to their complete salary. EPFO rejected the demand claiming that the response need to have come inside six months of the 1996 amendment. Cases have been filed towards EPFO in a range of excessive courts. By 2016 all besides one excessive courtroom dominated towards EPFO pointing out that the six-month closing date was once arbitrary and the personnel mus .


Will employees of exempted Cos get greater pension option? EPFO asks SC to decide.

Digging in its heels over now not giving exempt institution personnel the alternative to observe for greater pension, the Employees' Provident Fund Organisation (EPFO) has requested the Supreme Court to switch all petitions, filed through such personnel in special excessive courts, to itself. Once this happens, EPFO would have to combat its case solely earlier than the SC and now not in a couple of courts.


How to generate UAN on line the usage of Aadhaar even earlier than becoming a member of a new job.

The Employees' Provident Fund Organisation (EPFO) has put in area an on line mechanism via which you can self-generate a Universal Account Number (UAN) the usage of your Aadhaar card.

Merge 10 ancient EPF bills at one go with this new service.

Retirement fund physique EPFO has opened a new facility for its over 4.5 crore participants that will permit consolidation or merger of their more than one PF debts with the modern usual transportable account wide variety (UAN).


10 matters you ought to understand about EPF and how to calculate the PF balance.

Even although a lot of us make contributions in the direction of EPF, no longer many of understand about its internal workings. Here is a story on how the provident fund (PF) works, how the activity charge on it is calculated, the Universal Account Number, and how to avail advances towards your PF stability for medical, housing, and different needs.


Five steps to spark off Universal Account Number.

The Universal Account Number (UAN) lets in portability of PF bills from one agency to every other barring having to route it via your employer. With the UAN, a member can provoke the system of closing historical bills and transferring balances.


Benefits of linking your EPF account to Aadhaar and how to do it.

For these who desire to switch or withdraw their EPF money, the solely element an worker wishes to make sure is that his Aadhaar variety is linked to his PF account. Essentially, UAN has to be seeded with Aadhaar so as to make PF linked to it. Read on to locate out the how you can seed the two and the advantages of doing so.


Here's how to make certain automated switch of PF on altering jobs.

From now on a new joinee simply has to furnish positive data to the new employer, who will then add it on to the EPFO portal which robotically triggers the switch process. This skill that after switching a job, an worker want now not even provoke a switch request online.


How to calculate EPF stability and interest.

The activity fee on your EPF stability is calculated on the contributions by using each you and the employer. The sum of the worker as properly as the organisation contribution at the quit of the yr is delivered to the sum of the hobby earned in every of the 12 months. Read the story to how the EPF stability is calculated.

Click right here to use our EPF calculator.

4 methods to take a look at your provident fund balance.

As an worker and a member of the EPFO, you do not have to wait for your agency to share the provident fund (PF) assertion at the quit of the yr to comprehend the balance. You can take a look at the PF stability each time from the remedy of your domestic or workplace the use of any one of these avenues - EPFO portal, app, SMS, or by using giving a neglected call. Here are four approaches you can test your PF balance.

Now EPFO individuals having UAN can hyperlink Aadhaar online.

Linking your UAN to your Aadhaar range will in transferring and withdrawing PF cash online. Retirement fund manager, EPFO, has launched an on-line facility for its subscribers to hyperlink their 12-digit special identification quantity with their UAN. Here is a step-by-step information on how you can do it.


Boon for 4.5 crore subscribers: EPFO can also provide alternative to elevate fairness exposure.

Currently, 15% of PF contribution is invested by using EPFO in exchange-traded dollars and 85% in debt contraptions like authorities securities. Buoyed by means of greater returns on funding in equities, retirement fund physique EPFO is mulling to supply its subscribers an alternative to set apart a greater share of their provident fund cash for this asset class.


EPFO introduces frequent structure for unique kinds of withdrawal.

Subscribers of retirement fund physique EPFO can now withdraw cash from their PF account the usage of one frequent structure and will no longer be required to file archives like marriage invitation playing cards for taking advances. This new Composite Claim Form (Aadhaar), can even be submitted besides the attestation of employers.


SC ruling allows big upward shove in personal region pensions.

Courtesy a Supreme Court order of October 2016 that directed the Employees' Provident Fund Organisation (EPFO) to revise the pension of 12 petitioners beneath the worker pension scheme (EPS), the pension incresed a couple of instances for them.

Time for a nearer appear at the black-hole known as EPS.

As the identify suggests, the Employees' Pension Scheme (EPS) is that phase of the EPFO which is supposed to take care of an employee's pension needs. However, an worker does no longer at once make contributions in the direction of his very own EPS. It's the component of employer's contribution that strikes into EPS.

Here's how an worker can maintain tune of his EPS amount.

An man or woman switches jobs and normally transfers his EPF stability to the new employer. But what takes place to the money in the EPS continues to stay a thriller for many. While the PF account range of the new business enterprise suggests the transferred EPF balance, what about the EPS cash from the preceding employer? Here are a few pointers on how the EPS works and how one can avail it.

Should an worker decide for a VPF as returns on different fixed-income gadgets fall?


If the member needs to make a contribution greater than the obligatory amount, he can voluntarily do so at any price he needs (up to one hundred per cent of simple pay and dearness allowance), to his VPF account. So, have to you decide for VPF? We supply a low down on all that you need to comprehend about VPF earlier than taking a decisions.

Link your UAN to Aadhaar to get on line EPF declare in 5 days.

EPFO has brought quite a few new measures to convey down the claims contract length and has now enabled the device to purpose for the agreement of claims inside 5 days. Here is you can hyperlink your UAN to Aadhaar and get your EPF declare in simply 5 days.


Applied on-line for EPF switch after March 1, 2017? You want to re-apply & here is how to do it.


The erstwhile OTCP - 'online switch declare portal' has been changed via the launch of switch claims below the 'unified portal' of the EPFO. Now, if the worker desires to follow for the switch of PF from one's preceding company to his or her new employer, it has to be from the 'unified portal'. Here is how you can do it the usage of the portal.


Working abroad? Now get EPFO certificates of insurance on line to break out social protection contribution.

The Employees' Provident Fund Organisation (EPFO) has launched an on-line facility to follow for a certificates of insurance (CoC) required by way of an Indian worker going to work distant places to declare exemption from the host country's social security. The new technique is completely digital removing the want to post the software in challenging replica with the regional provident fund offices.


Here is the step-by-step technique to withdraw 90% of your PF to purchase a home.

EPFO has allowed members, i.e. the contributory personnel of the PF scheme to use ninety per cent of EPF accumulations to make down repayments to purchase homes and use the cash in their money owed to pay for equated month-to-month instalments (EMIs) for domestic loans. Here is information to how you can withdraw cash from your PF to fund your dream home.


How and when one can get admission to EPF whilst nonetheless in job.

Contributions in the direction of EPF are intended to take care of one's post-retirement needs. But you do not have to wait until you retire to lay your palms on the money. The EPFO approves one to get right of entry to the cash even at some stage in the path of employment. Such withdrawals are handled as 'advances' and now not loans. Read on to locate out how you can withdraw from your EPF.


EPFO to think about crediting ETF devices to PF accounts.

Retirement fund physique EPFO is probable to think about a concept to credit score subscribers' share of its ETF investments to their provident fund bills which can be redeemed at the time of withdrawal.



EPFO to obtain your PF contributions only if UAN is linked to modern employer.


From now on, for a member becoming a member of the EPF for the first time, the UAN will be acquired with the aid of the agency or member prior to the submitting of record by using the agency for that member. The UAN will be dispensed upfront on the portal and will then be validated in the file of the organisation at the time of its submission. For any individual who used to be already an EPF member earlier, the linking of the present UAN with the presen .


ETF gadgets for PF subscribers by using subsequent 12 months likely.


Over 5 crore provident fund subscribers will quickly be capable to song and redeem at market fee the element of their PF cash invested in shares. The retirement fund body's central board of trustees gave its go-ahead to a new accounting coverage for its equity-linked investments. Under the policy, 15% of the PF contribution that is parked in equities will be disbursed as mutual-fund like devices to the subscribers.