EPF Vs EPS: Which One Secures Your Financial Future Better?
3 months, 3 weeks ago

EPF Vs EPS: Which One Secures Your Financial Future Better?

ABP News  

EPF Vs EPS: In a bid to secure the financial future of employees, India offers two major retirement schemes: the Employees' Provident Fund and the Employee Pension Scheme. Upon retirement, employees receive a lump sum, ensuring financial stability in their later years. While EPF ensures savings, EPS guarantees regular monthly income post-retirement to eligible employees. Key Differences Between EPF and EPS Aspect EPF EPS Contributions Employees contribute 12 per cent of salary + dearness allowance, while employers contribute 3.67 per cent.

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History of this topic

How EPF balance ensures financial security? 5 benefits to know
1 week, 4 days ago

How EPF balance ensures financial security? 5 benefits to know

India Today  

Keeping a sufficient balance in your Employee Provident Fund is not only about saving money. As of now, the EPF interest rate stands at 8.25% per annum, making it a solid long-term investment. EMERGENCY FINANCIAL SUPPORT An EPF balance is also a safety net in tough times. INSURANCE COVERAGE Many people are unaware that EPF also provides life insurance under …

Invest in NPS or EPF? Experts explain benefits of retirement savings schemes
1 month, 1 week ago

Invest in NPS or EPF? Experts explain benefits of retirement savings schemes

Hindustan Times  

Salaried individuals in India usually plan their retirement keeping in mind the National Pension Scheme and the Employee Provident Fund. Abe Abraham, Partner at Cyril Amarchand Mangaldas, told Livemint, “Not all employers offer NPS but if your employer does it, you can request them to make employer contribution part of your salary. Tax benefits of NPS and EPF Employer contribution …

Budget 2025: Government may raise minimum EPS pension to Rs 7,500
2 months, 2 weeks ago

Budget 2025: Government may raise minimum EPS pension to Rs 7,500

India Today  

In a move that could significantly impact private sector employees, the government is reportedly contemplating a hike in the minimum monthly pension under the Employees’ Pension Scheme to Rs 7,500. A delegation representing pensioners met Finance Minister Nirmala Sitharaman on January 10, 2025, during a pre-budget consultation, urging an increase alongside additional benefits like a dearness allowance hike and free …

EPS rule update: Pensioners can now withdraw pension from any bank branch
2 months, 3 weeks ago

EPS rule update: Pensioners can now withdraw pension from any bank branch

Hindustan Times  

Employees’ Pension Scheme subscribers now have access to their pension from any bank branch in India. Pensioners don't have to visit the branch for any verification and it will be credited immediately upon release The ministry of labour and employment made the announcement in a statement on September 4 last year as part of the newly introduced Centralised Pension Payments …

Will EPF pension be raised soon? Here are parliamentary panel’s recommendations
3 months, 1 week ago

Will EPF pension be raised soon? Here are parliamentary panel’s recommendations

Live Mint  

The Parliamentary Standing Committee on Labour recently recommended that the government raise the minimum pension, which currently stands at ₹1,000, given by the Employee Provident Fund Organisation under its Employee Pension Scheme. In its report tabled in Parliament on December 16, the panel noted that over a decade has passed since the minimum pension of ₹1,000 per month was implemented. …

EPFO high pension: Why have 1.7 million applied for higher EPS contribution?
3 months, 1 week ago

EPFO high pension: Why have 1.7 million applied for higher EPS contribution?

India Today  

Over 1.7 million Employees' Provident Fund Organisation members have opted for higher pensions under the Employees’ Pension Scheme, following the Supreme Court’s landmark ruling in November 2022. This ruling has brought significant relief for eligible employees, allowing them to contribute to the scheme based on their actual basic salaries instead of the fixed threshold of Rs 15,000 per month. Under …

VPF Vs PPF: Which Is Better For You & Should You Invest In Both?
3 months, 3 weeks ago

VPF Vs PPF: Which Is Better For You & Should You Invest In Both?

ABP News  

Voluntary Pension Fund and Public Provident Fund are two popular and trusted long-term investments that cater to different investment needs. VPF is a part of Employee Provident Fund and is tied to your salary, while PPF is a government-backed savings scheme open to all individuals. Public Provident Fund Public Provident Fund is another low-risk savings scheme that offers steady returns …

Govt may lift cap on EPF contributions in key push for savings scheme
4 months ago

Govt may lift cap on EPF contributions in key push for savings scheme

Hindustan Times  

The Union government is considering doing away with caps on the share of an employee’s salary contributed towards pension to enable higher deductions by those who want higher retirement payouts, as part of a series of upcoming reforms, a senior labour ministry official said on Thursday. An employer and worker both are required by law to contribute 12% of a …

EPFO Raises PF Withdrawal Limit: New Rule Allows Higher Payout for Personal Needs
6 months, 1 week ago

EPFO Raises PF Withdrawal Limit: New Rule Allows Higher Payout for Personal Needs

News 18  

The Employees’ Provident Fund Organisation has raised the one-time withdrawal limit for provident fund accounts to Rs 1 lakh, doubling the previous limit of Rs 50,000. The EPFO manages the provident fund, pension, and insurance schemes for the organised sector employees in India, primarily through the Employees’ Provident Fund scheme. Mandaviya also announced another key update: the government has relaxed …

What are the issues faced by EPFO pensioners?
6 months, 2 weeks ago

What are the issues faced by EPFO pensioners?

The Hindu  

The story so far: Nearly 78 lakh Provident Fund pensioners across the country under the Employees’ Pension Scheme, 1995 of the Employees’ Provident Fund Organisation will receive their pension through any bank, any branch from January 1, 2025. The Union Labour Ministry cleared the proposal earlier this month for a Centralised Pension Payment System as part of the EPFO’s ongoing …

EPF interest calculation: Your guide to understanding EPF account interest
1 year ago

EPF interest calculation: Your guide to understanding EPF account interest

India TV News  

The Employees’ Provident Fund stands as a crucial retirement savings scheme facilitated by the Central government, catering to both salaried employees and private sector workers. Declared EPF interest rate The annual EPF interest rate is announced by the Employees’ Provident Fund Organisation. For the financial year 2023-24, the EPF interest rate stands at 8.25%. Calculation method EPF interest is compounded …

EPFO launches calculator for higher EPS pension additional contribution
1 year, 9 months ago

EPFO launches calculator for higher EPS pension additional contribution

Live Mint  

The Employees’ Provident Fund Organisation launches calculator for higher EPS pension additional contribution for employees from the Employees’ Pension Scheme Employees can now calculate the money they have to pay to receive a higher pension as the retirement body has released the Excel utility-based calculator to estimate dues that one has to pay. To find out the additional amount for …

Applications for higher pensions under EPS to be assessed within 20 days of receipt: EPFO
1 year, 9 months ago

Applications for higher pensions under EPS to be assessed within 20 days of receipt: EPFO

Hindustan Times  

The joint applications for higher pensions under the Employees' Pension Scheme will have to be scrutinised within 20 days of receipt, the Employees' Provident Fund Organisation has directed its field officers. “Hence, it is reiterated that each Applications for Validation of Joint Option/Joint Option shall be scrutinized expeditiously and it shall be ensured that Demand Letter to Employer/Communication to Employer …

Retirement plans: Know about EPF, PPF and VPF before choosing a provident fund scheme
1 year, 10 months ago

Retirement plans: Know about EPF, PPF and VPF before choosing a provident fund scheme

Firstpost  

Check this space to know about the difference among the Voluntary Provident Fund, Employee Provident Fund and Public Provident Fund For all the salaried individuals in India, making retirement plans is very crucial in order to ensure a financially secure future, in line with one’s present financial position, future goals, and risk appetite. Among these, the Voluntary Provident Fund, Employee …

EPF vs PPF vs VPF: Which One Is Most Suitable Scheme For You?
1 year, 10 months ago

EPF vs PPF vs VPF: Which One Is Most Suitable Scheme For You?

News 18  

Government-backed retirement plans offer individuals various options for investing in their future financial security. The Voluntary Provident Fund, Employee Provident Fund, and Public Provident Fund are popular choices among individuals looking to secure their retirement. EPF and VPF are basically the same, minus the option to voluntarily add extra money to the Voluntary Provident Fund. In the case of the …

How to get a higher pension in current EPFO ruling explained
1 year, 10 months ago

How to get a higher pension in current EPFO ruling explained

Live Mint  

The Employees' Provident Fund Organisation has come up with a procedure for a contribution towards higher EPS pension. According to the labour ministry, the additional contribution of 1.16 per cent of basic wages for subscribers opting for higher pensions will be managed from employers' contributions. Employees Pension Scheme calculation At present, the government pays 1.16 per cent of basic wages …

VPF vs PPF: What should salaried employees opt for?
1 year, 10 months ago

VPF vs PPF: What should salaried employees opt for?

Live Mint  

Better returns are always welcome, which is why investors look for ways to earn more on their investments. Salaried employees looking for risk-averse investment options to grow their money prefer government- Benefiting from higher interest rate While both are good, one may contribute a notch higher to Voluntary Provident Fund for added benefits. The interest rate on VPF contributions is …

Should you opt for higher pension under the Employee Pension Scheme?
1 year, 10 months ago

Should you opt for higher pension under the Employee Pension Scheme?

Live Mint  

The deadline for opting for higher pension under the Employee Pension Scheme is 26 June. In hindsight, EPFO probably rues making this change as it allowed members to opt for significantly higher pensions, thereby increasing EPS’ pension obligation. When members started opting for higher pensions by contributing to EPS based on actual salary, EPFO rejected many applications on procedural grounds. …

As EPFO higher pension scheme deadline arrives, check eligibility, interest rate and other details
1 year, 11 months ago

As EPFO higher pension scheme deadline arrives, check eligibility, interest rate and other details

Hindustan Times  

The Employees’ Provident Fund Organisation has set May 3 as the last date to submit an application for higher pension under the Employees' Pension Scheme. Employees who became members before 1 September 2014 and continue to be one can apply for higher pension. Documents to submit Employees should share an agreement to allow the transfer of funds from the provident …

From PF Settlement, Pension To Nomination: 5 Types Of Provident Fund Forms
1 year, 11 months ago

From PF Settlement, Pension To Nomination: 5 Types Of Provident Fund Forms

News 18  

The Employees’ Provident Fund Organisation is a statutory body that manages the Employees’ Provident Fund and other schemes related to the welfare of an employee. We have listed down a few types of EPFO forms that employees must have information about: –Form 19: This form is used to withdraw the EPF balance after leaving the job. The employer is required …

EPFO fixes 8.15% interest rate on provident fund
2 years ago

EPFO fixes 8.15% interest rate on provident fund

Hindustan Times  

The Employees Provident Fund Organisation, the retirement fund manager to India’s nearly 70-million-strong salaried class, has fixed an 8.15% interest rate on employees’ provident fund for 2022-23, a member of its Central Board of Trustees told HT. Provident fund savings are mandatory under the Employees Provident Funds and Miscellaneous Provisions Act. Provident fund savings are mandatory under the Employees Provident …

EPF Board meet pushed to March 27-28
2 years ago

EPF Board meet pushed to March 27-28

The Hindu  

The government on Monday announced the deferral of a meeting of the Employees’ Provident Fund Organisation board, where it is expected to finalise the EPF rate to be paid on crores of formal sector workers’ retirement savings in its custody for 2022-23. Chaired by Union Labour and Employment Minister Bhupender Yadav, the board of trustees of the EPFO was earlier …

Confused Between PPF And EPF? Here's What You Should Know Before Investing
2 years ago

Confused Between PPF And EPF? Here's What You Should Know Before Investing

News 18  

You might have heard the term employees’ provident fund and public provident fund numerous times. The interest rate on the EPF account has been set at 8.10 per cent for the current fiscal year. Every month, 12 per cent of the employee’s basic pay and dearness allowance must be contributed into the EPF account and the employer also shares an …

All you need to know about EPF higher pension scheme
2 years ago

All you need to know about EPF higher pension scheme

Hindustan Times  

The Employees Provident Fund Organisation has issued new guidelines under which subscribers and employers can jointly apply for a higher pension under the Employees' Pension Scheme. How to apply for a higher pension on the EPF portal: - Visit EPFO Unified Member portal - Select "Pension on higher salary: Exercise of joint option on or before May 3, 2023" - …

Higher EPFO pension: Why you should avoid going for it
2 years ago

Higher EPFO pension: Why you should avoid going for it

Live Mint  

In accordance with the Supreme Court's directive, the Employees Provident Fund Organization has extended the deadline for applications for higher pensions by 60 days. Amit Gupta, MD, SAG Infotech said to provide a larger pension after retirement, a portion of an EPFO member's EPF corpus will be moved to the EPS scheme from the date of joining if the person …

EPFO sets May 3 as deadline for subscribers to opt for higher pension
2 years, 1 month ago

EPFO sets May 3 as deadline for subscribers to opt for higher pension

Deccan Chronicle  

New Delhi: The Employees' Provident Fund Organisation on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per …

EPFO sets deadline for subscribers to opt for higher pension set as May 3
2 years, 1 month ago

EPFO sets deadline for subscribers to opt for higher pension set as May 3

Hindustan Times  

The Employees' Provident Fund Organisation on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2024, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of …

EPFO issues guidelines to let subscribers opt for higher pension. Check details
2 years, 1 month ago

EPFO issues guidelines to let subscribers opt for higher pension. Check details

Hindustan Times  

The Employees Provident Fund Organisation has introduced new guidelines, under which subscribers and employers can jointly apply for higher pension under Employees' Pension Scheme. According to HT's sister website Mint, EPFO has now allowed subscribers to go beyond the pensionable salary, capped at ₹15,000 per month. The same amendment also allowed members and their employers to jointly contribute 8.33% of …

Latest EPFO circular raises further concerns
2 years, 1 month ago

Latest EPFO circular raises further concerns

The Hindu  

The Employees’ Provident Fund Organisation’s February 20, 2023 circular, laying down the broad contours of eligibility for those members of the Employees’ Pension Scheme who were in service as on September 1, 2014 for seeking higher pension, has raised further concerns from activists. Namazi, former Chief Law Officer of the Karnataka State Road Transport Corporation and now the general secretary …

EPFO issues guidelines for employees, pensioners to opt for higher pension
2 years, 1 month ago

EPFO issues guidelines for employees, pensioners to opt for higher pension

The Hindu  

After days of discussions, the Employees’ Provident Fund Organisation has issued a circular on Monday to its regional offices with a set of instructions to implement the November 4 judgment of the Supreme Court on higher provident fund pension. Employees can submit the joint option with the employers using the members’ section of the EPFO website, which will be made …

Update For PF Subscribers: Now Apply For Higher Pension Under EPS; Know What Is Joint Option
2 years, 1 month ago

Update For PF Subscribers: Now Apply For Higher Pension Under EPS; Know What Is Joint Option

News 18  

Retirement fund body Employees’ Provident Fund Organisation on Monday came out with a procedure to enable subscribers and their employers to jointly apply for higher pension under Employees’ Pension Scheme. The office in-charge of the concerned regional provident fund office shall examine each case of joint option on higher salary and intimate the decision to the applicant through e-mail/post and …

EPFO circular leaves a big chunk of EPS pensioners in the dark about revised scheme
2 years, 2 months ago

EPFO circular leaves a big chunk of EPS pensioners in the dark about revised scheme

The Hindu  

The Employees Provident Fund Organisation ’s latest circular, providing an opportunity to a section of pensioners to apply for higher pensions, is silent about those who could not exercise the option for enhanced pension due to the authorities’ interpretation of the cut-off date. Gupta case of 2016, the apex court stated two months ago that “all the employees who did …

How the Supreme Court ruling affects your pension payouts
2 years, 4 months ago

How the Supreme Court ruling affects your pension payouts

The Hindu  

Successive governments in India have been trying to wean workers away from defined benefit pension plans, to market-linked ones. Once you join EPF, your employer deducts 12% of your basic pay every month towards the fund, while making a matching contribution. While your 12% contribution goes entirely into your EPF account, 8.33% of your employer’s contribution goes into the EPS, …

Explained: Supreme Court's EPF decision and what it means for you
2 years, 4 months ago

Explained: Supreme Court's EPF decision and what it means for you

Firstpost  

The apex court ruling means Employees Provident Fund Organisation members can now contribute 8.33 per cent of their actual salaries rather than 8.33 per cent of the pensionable salary which was capped at Rs 15,000 per month. The apex court also held that the EPFO cannot ask subscribers for an additional 1.16 per cent of contribution of salary for opting …

All employees can opt for EPFO pension scheme: Supreme Court
2 years, 4 months ago

All employees can opt for EPFO pension scheme: Supreme Court

The Hindu  

The Supreme Court on Friday upheld the Employees’ Pension Scheme, 2014 of the Employees’ Provident Fund Organistion as “legal and valid” while reading down certain provisions. The court struck down a requirement in the 2014 amendments that employees who go beyond the salary threshold should contribute monthly to the pension scheme at the rate of 1.16% of their salary. The …

Employees of private company may get pension after retirement | Checks EPFO norms
2 years, 5 months ago

Employees of private company may get pension after retirement | Checks EPFO norms

India TV News  

A pension after retirement gives great relief to elders. Employee’s Provident Fund Organization made provision of pension for private organization's employees under EPS. This scheme is for the pension of the employees working in the organized sector, after their retirement at 58 years. EPS pension was made available from 1995 and later retained for existing and newly joined EPF employees …

After death of EPS pensioner, family members eligible for pension, benefits. Details here
2 years, 6 months ago

After death of EPS pensioner, family members eligible for pension, benefits. Details here

Hindustan Times  

The Employees' Pension Scheme came into effect from November 19, 1995, and all employees who qualify for the Employees' Provident Fund scheme, also become eligible for EPS enrollment so that they receive their pension after they reach the age of fifty-eight. EPS offers monthly benefits to beneficiaries after they retire or superannuate; these benefits can also be availed by family …

EPF Pension Case : Provident Fund Members Don't Automatically Become Eligible Under EPS, EPFO Tells Supreme Court
2 years, 7 months ago

EPF Pension Case : Provident Fund Members Don't Automatically Become Eligible Under EPS, EPFO Tells Supreme Court

Live Law  

The Employees Provident Fund Organisation on Tuesday told the Supreme Court of India the structure of Employee Provident Fund Scheme and Employee Pension Scheme is entirely different.EPFO, appearing through Senior Advocate Aryama Sundaram made the submission before Justices UU Lalit, Aniruddha Bose and Sudhanshu Dhulia. The Employees Provident Fund Organisation on Tuesday told the Supreme Court of India the structure …

EPF vs NPS: Which one is most appropriate for you?
2 years, 9 months ago

EPF vs NPS: Which one is most appropriate for you?

Live Mint  

To grow their nest fund, most salaried people have access to two broad retirement-specific tools, Employees' Provident Fund and National Pension System. The Employees' Provident Fund Organisation acquired 1.11 crore members between March 2021 and February 2022, whereas the National Pension System registered 93.6 lakh for the full FY 2021-22. National Pension System NPS is a defined contribution retirement savings …

PPF vs EPF vs NPS vs mutual funds: Guide to your pension plans
2 years, 11 months ago

PPF vs EPF vs NPS vs mutual funds: Guide to your pension plans

India Today  

Savings for retirement and pension plans are essential even as one needs to look after immediate goals such as children's education and buying a house or flat. PPF INTEREST RATE, INCOME TAX BENEFITS PPF is considered as one of the safest avenues for saving as it offers guaranteed and income tax-free returns. PPF also offers Rs 1.5 lakh deduction on …

PF Update: Provident Fund Contributions to Be Taxed Soon? Know What the Govt Says
3 years ago

PF Update: Provident Fund Contributions to Be Taxed Soon? Know What the Govt Says

News 18  

The central government has laid out a plan to impose taxes on Employees Provident Fund contributions above Rs 2.50 lakh in a year. On the contrary, if a government employee contributes Rs 6 lakh to provident fund, Rs 1 lakh is going to be taxed under the rule. With this new amendment, the government wants to curb high income earners …

EPF rate slashed from 8.5% to 8.1% for 2021-22, to hit savings
3 years ago

EPF rate slashed from 8.5% to 8.1% for 2021-22, to hit savings

The Hindu  

The return on workers’ retirement savings parked with the Employees’ Provident Fund Organisation has been slashed to 8.1% for 2021-22 from the 8.5% rate credited to EPF members’ accounts in the last two years. The EPFO’s income from investments this year stood at ₹76,768 crore from about ₹70,000 crore in 2020-21, when it had paid out 8.5% to EPF accounts. …

EPFO’s pension scheme likely to get a reboot
3 years, 1 month ago

EPFO’s pension scheme likely to get a reboot

Live Mint  

Retirement fund body Employees’ Provident Fund Organisation is toying with the idea of bringing out a new pension product for organised sector workers not covered under the Employees’ Pension Scheme, 1995. Public Provident Fund: PPF is a government-backed savings vehicle with quarterly fixed returns determined by the government. We showcase some of the key differences between NPS and PPF: National …

PF New Rule: EPF Benefits to Stop from Next Month if you do not Complete this By December-end
3 years, 3 months ago

PF New Rule: EPF Benefits to Stop from Next Month if you do not Complete this By December-end

News 18  

Employees Provident Fund Update: All account holders of the Employees Provident Fund will have to make changes in their accounts by December 31, as a new rule will be implemented from next month. The Employees Provident Fund Organisation has in a notification said that employees will need to add a nominee to their EPF accounts by December 31 this year. …

EPF News: Contribute to EPF Every Month? Know PF, Insurance, Pension Calculation
3 years, 5 months ago

EPF News: Contribute to EPF Every Month? Know PF, Insurance, Pension Calculation

News 18  

A salaried employee has their passive savings going into the provident fund. Generally, 12 per cent of the employees’s basic salary is credited into the PF account every month. Another column reflecting contribution towards employees pension scheme is One portion of the employee’s overall retirement sum is EPF, while the other part is EPS. Every month, Rs 1250 of the …

PF Rule: You Monthly EPF Contributions can Get you Over Rs 1.5 Crore. Know How
3 years, 7 months ago

PF Rule: You Monthly EPF Contributions can Get you Over Rs 1.5 Crore. Know How

News 18  

You must hate it when you look at your salary slip at the starting of the month and find that all the various deductions have reduced your monthly in-hand income. Your EPF fund fetch an interest rate of 8.5 per cent for the financial year 2020-21. “In India, average inflation in the long run is considered to be around 6 …

EPF withdrawal: Step-by-step guide to withdraw money online
3 years, 9 months ago

EPF withdrawal: Step-by-step guide to withdraw money online

India Today  

One of the world’s largest social security organizations, the Employees Provident Fund, is a compulsory contribution provident fund that offers saving, pension, and insurance benefits in India. The EPF allows you to withdraw money from your account upon retirement after attaining the age of 55 years. You can withdraw money before the maturity period in the following cases: Purchasing or …

PF Account Benefits: EPF Account Holders Are Eligible For Pension Benefit. Check Details
3 years, 10 months ago

PF Account Benefits: EPF Account Holders Are Eligible For Pension Benefit. Check Details

ABP News  

New Delhi: If you are a member of Employees' Provident fund Organisation then you are eligibile of Provident Fund benefits including pension. An employees’ Provident Fund account remains one of the most preferred investment options to meet retirement goals provided an employee fulfills Rs 15,000 threshold for monthly PF contribution. A PF subscriber can avail the pension benefits for which …

Employees’ Provident Fund (EPF): 3 reasons why you might earn less returns this year
4 years, 10 months ago

Employees’ Provident Fund (EPF): 3 reasons why you might earn less returns this year

Live Mint  

If you are depending on your employees' provident fund account for retirement needs, earnings from this financial year is likely to disappoint you. Despite falling interest rates in fixed deposits and small saving schemes, the Employees' Provident Fund Organisation had declared an interest rate of 8.5% for 2019-20. Since there will be less contribution for 3 months, the monthly balance …

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