As per the latest developments, the Central Government is going to implement the new labour laws from 1st July 2022. Once the new labour laws come into force, there will be a significant change in employees’ office working hours, EPF contributions and the take-home salary. Employees will be able to get three week offs. However,…
Public Provident Fund or PPF is one of the most popular tax saving investment schemes in India, where contributions towards it is deducted from the taxable income. The interest gained on the deposits is also exempted from tax deductions. What are the tax benefits of PPF? Under the Section 80C of the Income Tax Act […]
Besides high returns, the safety of investments is what makes a scheme attractive to investors. In both aspects, PPF remains an effective long-term investment scheme. As it is a government-backed scheme, PPF offers safety along with appealing returns. Being a savings scheme exempt from taxes, PPF is especially suitable for self-employed professionals and small businesses which…
Employees’ Provident Fund Organisation (EPFO) manages and maintains the provident fund account of all subscribers. It has made a few changes recently and has tweaked some of its processes to make it more user-friendly and less time consuming. Earlier, EPF was one of the most complex schemes which is being modified and revamped by the…
EPF is managed by the Employees’ Provident Fund Organization (EPFO) under the Employees’ Provident Fund and Misc. Provisions Act, 1952. The EPFO, which was riddled with complex rules and procedures, has worked for simplification of the process by making its services available online. The employee can log in through the UAN Member e-Sewa Portal and…
Employees’ Provident Fund Organisation (EPFO) manages three important retirement schemes for employees – Employees’ Provident Fund (EPF), Employees’ Pension Scheme (EPS) and Employees’ Deposit-Linked Insurance Scheme (EDLI). Once a member of EPFO retires at the age of 58 years, he receives a lump sum of EPF corpus. If employed for at least 10 years, he…
In case you are availing to EPF services online using your UAN, then linking Aadhaar to UAN is still a requirement to continue using the online services. As per a circular released by the Employees’ Provident Fund Organization (EPFO), the EPF member needs to provide his Aadhaar number to avail online services through EPFO web…
As per the latest media reports, the Income Tax Department has revised Form 2 and Form 3 that are being used for filing ITR for the FY 2017-18. The forms contain detailed break-up of contributions made towards EPF. It should be noted that a member has to pay tax on EPF withdrawal before 5 years of…
