Employee Provident Fund (EPF) is one of the most popular and trusted scheme for securing a long-term retirement fund. It is managed by Employees’ Provident Fund Organization under the Employees’ Provident Fund and Misc. Provisions Act, 1952. Both the employer as well as the employee contribute to the EPF account and one can withdraw the…
हिन्दी में पढें PAN is required during EPF withdrawal/settlement if you do not want some excess tax to be deducted from your EPF account. If you fail to submit PAN, the tax deducted at source (TDS) can be as high as 34.6%. Is EPF withdrawal taxable? EPF or Employee’s Provident Fund is taxable if withdrawn…
The Cabinet approved the Aadhaar ordinance that allows people to voluntarily furnish their 12-digit biometric identification number to open a bank account or buy a new mobile SIM. Currently, private entities are not allowed to use Aadhaar details for providing different services as per the Supreme Court’s judgement on Aadhaar on 26th September 2018. The…
Do you know that the Employee Provident Fund Organization (EPFO) has increased the minimum assurance (life insurance) benefits under its Employee Deposit Linked Insurance (EDLI)? Now, the assurance benefits for the eligible employee will stand at a minimum of Rs. 2.5 lakhs and maximum of Rs. 7 lakhs. So this could be a good time…
The Unique Identification Authority of India, under the Aadhaar Act and Regulations, 2016 has made it compulsory for the centralized storage (collected by AUAs/KUAs/ Sub-AUAs/ or any other agency) of all the Aadhaar number in a different repository which is known an as ‘Aadhaar Data Vault’. The Aadhaar Act 2016 states an Aadhaar Number which…
