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Good news for Public Provident Fund (PPF) account holders! The government has removed the fee to update or modify nominee details in PPF accounts. This change comes as part of the Government Savings Promotion General Rules, 2018, which have now been updated via Gazette Notification April 2, 2025.
In a recent announcement, the Centre has decided to maintain the current interest rates on post office savings schemes for the period from April to June 2025.
The Employees Provident Fund Organisation, or EPFO, has taken several initiatives over the past couple of years to make the claim settlement process more streamlined. Union Minister of State for Labour and Employment, Shobha Karandlaje recently highlighted some of these steps.
EPFO is reportedly working to make the claim settlement process easier and faster for millions of EPFO members. The latest update suggests that the automatic settlement limit for withdrawals may increase from Rs 1 lakh to Rs 5 lakh.
A Parliamentary Committee on Thursday (March 27, 2025) pointed out non-payment of contribution by private sector employers towards their employees’ provident fund and asked the government to take up the matter with EPFO in case any such grievances are received.
Union Labour Minister Mansukh Mandaviya on Thursday said that the employees provident fund organisation (EFPO) will soon launch the “EPFO 3.0 version.” He added that the enhanced version will allow subscribers to withdraw their provident fund directly from ATMs, among other new features.
The Employees’ Provident Fund Organization (EPFO) has recently introduced key updates to the Employees’ Deposit Linked Insurance (EDLI) scheme. These revisions were approved during the 237th meeting of the Central Board of Trustees (CBT), chaired by Union Labor Minister Mansukh Mandaviya. CBT has recommended an 8.25 per cent annual interest rate for EPF subscribers.
Central Board of Trustees (CBT) – the apex decision making body of the Employees Provident Fund Organisation (EPFO) on Friday kept the interest rate on the retirement savings accumulated by its nearly 300 million members unchanged at 8.25 per cent for the financial year 2024-25 This comes against the backdrop of ebbing stock markets and bond yields in the current financial year.
If you are moving abroad for work, it is important to manage your Employees’ Provident Fund (EPF) account before leaving. Once your employment in India ends, you are no longer eligible to contribute to EPF, making withdrawal an option.
When evaluating retirement savings options under the new tax regime, the National Pension System (NPS) may present more favourable tax benefits compared to the Employees’ Provident Fund (EPF) when opting for the new tax regime.