Stay updated
The central government may soon raise the wage ceiling limit under the Employees’ Provident Fund (EPF) scheme to Rs 21,000 from Rs 15,000 currently. The government last increased the wage limit threshold in September 2014, more than doubling it from Rs 6,500 to Rs 15,000.
The government is considering raising the limit on tax-free contributions to the Voluntary Provident Fund (VPF) within the purview of the Employees’ Provident Fund Organisation (EPFO) from the current Rs 2.5 lakh. Currently, any interest earned exceeding Rs 2.5 lakh is subject to taxation. This initiative aims to encourage individuals with lower-middle and middle incomes to increase their savings through EPFO, ultimately aiding in the accumulation of a substantial retirement fund.
The Employees’ Provident Fund Organisation (EPFO) has reported a net addition of Rs. 18.53 lakh members in August, reflecting a 9.07% rise compared to 16.9 lakh members in August 2023, according to the latest government data revealed on Sunday.
The government has increased insurance benefits under the Employees’ Deposit Linked Insurance (EDLI) scheme for all members of the Employees’ Provident Fund Organisation (EPFO). EDLI provides life insurance cover of up to Rs 7 lakh.
The Employees Provident Fund Organisation (EPFO) has released new guidelines for processing Digital Signature Certificate (DSC) and E-Sign requests submitted by employers.
The revised regulations concerning PPF accounts, which are effective from today, focus on accounts opened for minors, the ownership of multiple PPF accounts, and the eligibility of Non-Resident Indians (NRIs) to extend their PPF accounts within the framework of National Savings Schemes administered by post offices.
If you’re looking to withdraw your provident fund for personal needs, there’s good news. The Employees’ Provident Fund Organisation (EPFO) has raised the withdrawal limit from Rs 50,000 to Rs 1 lakh.
EPS pensioners will be able to get their pensions from any bank, branch, or location in India from January 1, 2025.
Every month, a portion of your salary is set aside in a provident fund. The goal is to receive lump sum payments with interest at the time of retirement. But imagine losing that money to a fraudster who illegally withdraws from your account. It’s a terrifying thought, isn’t it?
EPFO has stopped deductions under the GIS for government employees who joined work after September 1, 2013.