EPF Interest Rate Likely To Be Revised Down To 8%, EPFO Board Meet May Decide Today
1 year, 8 months ago

EPF Interest Rate Likely To Be Revised Down To 8%, EPFO Board Meet May Decide Today

News 18  

The interest rate on the employees’ provident fund is likely to be revised, even as the retirement fund body EPFO’s board meets on Monday. According to an ET report recently, the government might peg the interest rate on PF deposits at about 8 per cent for the financial year 2022-23, as compared with 8.1 per cent currently. For 2021-22, the government had approved a four-decade-low interest rate of 8.1 per cent on employee provident fund deposits. The 8.1 per cent EPF interest rate was the lowest since 1977-78, when it stood at 8 per cent.

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History of this topic

EPFO to offer ATM withdrawals for savings, new features from Jan 2025: official
1 week, 2 days ago

EPFO to offer ATM withdrawals for savings, new features from Jan 2025: official

Hindustan Times  

New Delhi: The Employees’ Provident Fund Organisation subscribers will soon have easier access to their savings with new ATM withdrawal facilities. From January 2025, they will be able to withdraw funds up to a specified limit using an EPFO account-linked ATM card, along with other features to improve access, said an official on Saturday. EPFO subscribers will be able to …

EPFO key amendments: Now faster claims and more interest benefits for members
1 week, 4 days ago

EPFO key amendments: Now faster claims and more interest benefits for members

India Today  

The Employees Provident Fund Organisation has introduced major changes to provide financial relief and faster claim settlement for Employees Provident Fund members. KEY UPDATE ON INTEREST PAYMENTS EPFO announced that the Central Board of Trustees has approved an important amendment to paragraph 60 of the EPF Scheme, 1952. BENEFITS FOR EPF MEMBERS Speaking to The Economic Times, Puneet Gupta, Tax …

EPFO 3.0: ATM Access To PF And Removal Of 12% Contribution Cap On The Cards: Report
2 weeks, 5 days ago

EPFO 3.0: ATM Access To PF And Removal Of 12% Contribution Cap On The Cards: Report

ABP News  

The Employees' Provident Fund Organisation is set to introduce a series of transformative features under its proposed upgrade, EPFO 3.0. These changes, aimed at enhancing accessibility and flexibility for members, include ATM-enabled withdrawals, removal of the current contribution cap, and pension conversion options, according to a report by ET Now. Key Highlights of EPFO 3.0 PF Withdrawals via ATMs: The …

Can you withdraw the pension share from your EPF?
3 weeks ago

Can you withdraw the pension share from your EPF?

Live Mint  

If you're an employee contributing to the provident fund, your employer might be allocating a portion of it each month to the employee pension scheme. After an amendment on 1 September 2014, new member employees earning a basic pay of more than ₹15,000 per month cannot be a part of the pension scheme. View Full Image Mint To be sure, …

EPF subscribers to receive interest till the date of settlement: CBT Board decides
Trending News
3 weeks, 1 day ago

EPF subscribers to receive interest till the date of settlement: CBT Board decides

Live Mint  

A number of key decisions were taken in the 236th meeting of Central Board of Trustees, EPFO on Saturday. These changes relate to paying a higher interest to subscribers, Investment in InvITs and REIT, and redemption Policy for ETF investments. The board was informed that in the current financial year, 3.83 crore claims have already been settled for more than …

EPFO board pitches amnesty plan for PF payment violations
3 weeks, 2 days ago

EPFO board pitches amnesty plan for PF payment violations

Hindustan Times  

In a key decision, the central board of trustees of the Employees’ Provident Fund Organisation, in its 236th meeting chaired by labour minister Mansukh Mandaviya on Saturday, approved reinvesting 50% of its redemption proceeds from exchange traded funds back into equities. The board also recommended to the Union government a national EPFO amnesty scheme 2024 for all types of employers …

EPFO update: Central Board of Trustees meet to decide on proposals — ETF investment increase to 15%? Details here
3 weeks, 2 days ago

EPFO update: Central Board of Trustees meet to decide on proposals — ETF investment increase to 15%? Details here

Live Mint  

The Employees Provident Fund Organisation's Central Board of Trustees is set to meet today, November 30, to decide on various proposals, according to a Business Today report citing sources. The proposals under discussion include the redemption policy for increased investments in equity traded funds, re-investment of ETF proceeds, guidelines for investments into real estate investment trusts, and the annual performance …

Two ways for the EPFO to give itself an image boost
1 month, 1 week ago

Two ways for the EPFO to give itself an image boost

Live Mint  

The proof of a retiral kitty’s worth is in the retiring. Since a surge in bogus claims after EPFO processes went online seems like a minor explanation at best, the organization must release data in more granular detail—and sooner—for a clearer picture of the scenario. Moreover, the government’s move to tax employee contributions to the fund above ₹2.5 lakh each …

New pension platform to ease payouts: Minister
1 month, 1 week ago

New pension platform to ease payouts: Minister

Hindustan Times  

The labour ministry will switch to a centralised pension-payment system from 2025, allowing retirees to receive monthly payouts from any bank or its branches in any location throughout the country, for which a large-scale test run was recently carried out. Mansukh Mandaviya The new platform for subscribers of the Employees’ Provident Fund Organisation, the state-run retirement fund manager, is aimed …

Trial run of centralised PF pension system is successful, says Centre
1 month, 2 weeks ago

Trial run of centralised PF pension system is successful, says Centre

The Hindu  

The pilot run of the proposed Centralised Pension Payments System under the employees’ pension scheme of the Employees Provident Fund Organisation is successful, the Union Labour Ministry said on Friday, November 8, 2024. The new system, to be implemented nationwide by January 2025, will help more than 78 lakh EPS pensioners to receive their pension from any bank, any branch, …

EPFO Raises PF Withdrawal Limit: New Rule Allows Higher Payout for Personal Needs
3 months 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?
3 months, 1 week 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 …

Centre to make EPFO pensions fully portable to ease payouts
3 months, 2 weeks ago

Centre to make EPFO pensions fully portable to ease payouts

Hindustan Times  

The Union government will roll out a centralised pension payment system for all subscribers of the state-run retirement fund manager, the Employees’ Provident Fund Organisation, which will enable bank and location portability, and eliminate the need to physically move payment orders, Union labour minister Mansukh Mandaviya has said. Under the reforms taking effect next year, the regional offices would not …

When will EPF interest be credited for FY 2023-24? All you need to know about it
7 months, 4 weeks ago

When will EPF interest be credited for FY 2023-24? All you need to know about it

India TV News  

In a move welcomed by salaried workers, the Employees’ Provident Fund Organisation raised the interest rate on provident fund deposits for the Financial Year 2023–24 from 8.15% to 8.25%. Interest calculated monthly, and deposits expected soon EPFO calculates interest on provident fund deposits monthly, with the contributions deposited at the end of the fiscal year. Checking EPF balance: Easy methods …

EPF interest calculation: Your guide to understanding EPF account interest
9 months 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 …

Pension concerns: On the EPFO recommendation
10 months, 1 week ago

Pension concerns: On the EPFO recommendation

The Hindu  

The recommendation of the Central Board of Trustees of the Employees’ Provident Fund Organisation for a 0.1-percentage-point increase in provident fund deposits for 2023-24 should not be surprising, as it is in tune with what the EPFO did last year. Months ago, the Finance Ministry had rejected a proposal to double the minimum pension amount, citing a “huge rise” in …

EPF interest hiked to 3-year high of 8.25%
10 months, 1 week ago

EPF interest hiked to 3-year high of 8.25%

Deccan Chronicle  

New Delhi: Ahead of general elections, the interest rate paid on employee provident fund was on Saturday hiked to 8.25 per cent for fiscal year ending March 31, the highest in three years.The central board of trustees of the Employees' Provident Fund Organisation recommended to the finance ministry for raising the interest rate for nearly 8 crore contributing subscribers, the …

EPFO hikes interest rate to 8.25 per cent on employees' provident fund, highest in three years
10 months, 2 weeks ago

EPFO hikes interest rate to 8.25 per cent on employees' provident fund, highest in three years

India TV News  

Retirement fund body Employees' Provident Fund Organisation has hiked the interest rate on deposits to 8.25 per cent from 8.15 per cent. In March 2023, the Employees' Provident Fund Organisation had increased the interest rate on EPF marginally to 8.15 per cent for 2022-23 from 8.10 per cent in 2021-22. The 8.5 per cent interest rate on EPF deposits for …

The woes of pensioners and PF members
11 months, 3 weeks ago

The woes of pensioners and PF members

The Hindu  

The Employees’ Provident Fund Organisation ’s recent clarification on the implementation of the 2022 Supreme Court verdict on higher Provident Fund pension seems to have added to the woes of pensioners and PF members. Issues in pension computation In the most contentious matter of pension computation, the clarification, which states that pension will be calculated as per paragraph 12 of …

Diwali 2023: ‘Gift’ for employees as centre starts crediting PF interest; here how to check if you have received
1 year, 1 month ago

Diwali 2023: ‘Gift’ for employees as centre starts crediting PF interest; here how to check if you have received

Live Mint  

The Employees’ Provident Fund Organisation has initiated the process of crediting interest to provident fund accounts for the financial year 2022-23, offering an interest rate of 8.15 percent. The interest rate set by the EPFO for the financial year 2022-23 represents a notable uptick from the 7.59 percent interest rate provided in the preceding financial year. The EPFO has issued …

EPFO added 17.89 lakh net members in June this year in 11-month high, says govt data
1 year, 4 months ago

EPFO added 17.89 lakh net members in June this year in 11-month high, says govt data

India TV News  

The Employees' Provident Fund Organisation added 17.89 lakh net members on a net basis in June 2023, according to data released by the Ministry of Labour and Employment. State-wise analysis State-wise analysis of payroll data shows that the five states of Maharashtra, Tamil Nadu, Karnataka, Gujarat, and Haryana have the highest net member addition. The other four states are as …

When Will EPF Interest For FY 2022-23 Get Credited? Check This
1 year, 4 months ago

When Will EPF Interest For FY 2022-23 Get Credited? Check This

News 18  

The government has adopted the recommendation of the Employees’ Provident Fund Organisation’s Central Board of Trustees to hike the interest rate on provident fund deposits to 8.15 per cent. Please maintain patience.” Once the amount gets credited, customers can check their EPF balance using a variety of methods such as the EPFO official website, missed calls, SMS, or even via …

Provident Fund alert: EPFO to transfer money to more than 7 crore subscribers, steps to check balance
1 year, 4 months ago

Provident Fund alert: EPFO to transfer money to more than 7 crore subscribers, steps to check balance

India TV News  

The Employees Provident Fund Organisation has initiated the process of depositing interest for the financial year 2022–23. The central government approved in July this year raising the interest rate on Employees Provident Fund deposits to 8.15% for the financial year 2022–23. When the sum is credited, users can check their EPF balance in different ways, including the EPFO site, SMS, …

Tech tips: Check your EPF balance online| Follow these simple steps
1 year, 4 months ago

Tech tips: Check your EPF balance online| Follow these simple steps

India TV News  

The Employees' Provident Fund is a significant retirement savings scheme that is mandatory for all employees in India earning up to Rs 15,000 per month. Another convenient option is to use the UMANG application, also known as the "m-Sewa app of EPFO." Here's how: Open the UMANG application and look for "EPFO" under "Employee Centric Services" on the home screen. …

Centre ratifies 8.15% interest rate on EPF for 2022-23
1 year, 4 months ago

Centre ratifies 8.15% interest rate on EPF for 2022-23

Deccan Chronicle  

New Delhi: The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23. Retirement fund body EPFO on March 28, 2023, had marginally raised the interest rate on employees' provident fund deposits to 8.15 per cent for 2022-23 for its over six crore subscribers. As …

Govt hikes interest rate on Employees Provident Fund for 2022-23 to 8.15%
1 year, 4 months ago

Govt hikes interest rate on Employees Provident Fund for 2022-23 to 8.15%

Hindustan Times  

The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23. Retirement fund body EPFO on March 28, 2023, had marginally raised the interest rate on employees' provident fund deposits to 8.15 per cent for 2022-23 for its over six crore subscribers. As per an …

EPF Update: Govt Approves 8.15% Interest Rate for Fiscal 2023-24; Details Here
1 year, 4 months ago

EPF Update: Govt Approves 8.15% Interest Rate for Fiscal 2023-24; Details Here

News 18  

The central government has approved to credit interest at 8.15 per cent to the Employees’ Provident Fund scheme for 2023-24. The EPFO’s Central Board of Trustees on March 28 set an 8.15 per cent interest rate on provident fund for this fiscal. According to an Employees’ Provident Fund Organisation office order issued on Monday, July 24, the labour ministry has …

EPFO extends deadline to apply for higher pension till July 11
1 year, 5 months ago

EPFO extends deadline to apply for higher pension till July 11

The Hindu  

The Employees’ Provident Fund Organisation has extended the deadline for members and pensioners to apply for higher Provident Fund pension till July 11 The deadline was to expire on June 26. The EPFO said it would be the “last opportunity” for employees to submit the joint options to get pension on higher wages. Over 16 lakh applications received The EPFO …

EPFO data: 13.4 lakh members added to retirement fund body in March, 1.39 crore in 2022-23
1 year, 7 months ago

EPFO data: 13.4 lakh members added to retirement fund body in March, 1.39 crore in 2022-23

India TV News  

EPFO Data: According to payroll data released on Saturday, the retirement fund body EPFO added 13.40 lakh members on a net basis in March, taking the total addition to 1.39 crore in 2022-23, The latest data suggested that a total of 1.22 crore members were added to the EPFO on a net basis in 2021-22. Out of 13.40 lakh members …

Higher pension: EPFO directs offices to calculate dues with interest
1 year, 7 months ago

Higher pension: EPFO directs offices to calculate dues with interest

The Hindu  

The Employees’ Provident Fund Organisation has issued an internal circular directing its regional offices on the method to calculate the dues of subscribers who apply for higher PF pension. According to the circular, 8.33% of employer share on higher pay from November 16, 1995 or from the date the pay exceeds the wage ceiling of ₹6,500 and 1.16% of employer …

How to get a higher pension in current EPFO ruling explained
1 year, 7 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 …

EPFO: New deadline to apply for higher pension. Check details here
1 year, 7 months ago

EPFO: New deadline to apply for higher pension. Check details here

Live Mint  

In order to provide a larger window of opportunity and in order to enable all eligible persons to file their applications, the Employees' Provident Fund Organisation has extended the date for filing applications to opt for a higher pension. The Supreme Court initially set a four-month deadline from the judgment date for eligible employees who were members of the EPF …

EPFO extends deadline to apply for higher pension till June 26
1 year, 7 months ago

EPFO extends deadline to apply for higher pension till June 26

Hindustan Times  

Employees' Provident Fund Organisation on Tuesday extended the date for filing applications to opt for a higher pension till June 26, 2023. Here's how to check your PF balance According to the statement by the ministry of Labour and Employment, the timeline for filing applications has been extended in order to provide a larger window of opportunity and in order …

EPFO extends deadline to apply for higher pension till June 26
1 year, 7 months ago

EPFO extends deadline to apply for higher pension till June 26

Live Mint  

Retirement fund body EPFO on Tuesday extended the deadline to apply for higher pension till June 26. EPFO has made arrangements for obtaining applications for the validation of option / joint option from pensioners / members as per the Hon’ble Supreme Court order dated 4 November 2022. Earlier, the Supreme Court in its order on November 4, 2022 had mandated …

As EPFO higher pension scheme deadline arrives, check eligibility, interest rate and other details
1 year, 7 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 …

Higher pension from EPFO: Deadline, Eligibility, interest rate and other details
1 year, 7 months ago

Higher pension from EPFO: Deadline, Eligibility, interest rate and other details

Live Mint  

With just less than a week left for individuals to apply for higher pensions under the Employees' Pension Scheme, the Employees’ Provident Fund Organisation has issued new details for scrutiny of information and wage details submitted by the employee and employer for higher pension. Confusion over EPFO note on higher pension As per Amit Gupta, MD, SAG Infotech, EPFO in …

From PF Settlement, Pension To Nomination: 5 Types Of Provident Fund Forms
1 year, 8 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 …

How to Check EPF Balance? Here's The Step-By-Step Guide
1 year, 8 months ago

How to Check EPF Balance? Here's The Step-By-Step Guide

News 18  

The employees’ provident fund, which is only open to workers or salaried employees working in the companies or business establishments registered under the EPF Act, is a retirement fund that is deducted every month from the salary of the employees over the period of his tenure. If you want to check you EPF balance, here’s the step-by-step guide: Through Missed …

EPFO fixes 8.15% interest rate on provident fund
1 year, 8 months 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 …

EPFO fixes 8.15% interest rate on employees' provident fund for 2022-23
1 year, 8 months ago

EPFO fixes 8.15% interest rate on employees' provident fund for 2022-23

India Today  

The retirement body fund Employees Provident Fund Organisation on Monday fixed the employees’ provident fund for 2022-23 at 8.15 per cent, reported news agency PTI quoting sources. The fresh rate is 0.5 per cent higher than the 8.1 per cent interest rate EPFO had declared for 2021-22, which also was the lowest in almost four decades. “The Employees’ Provident Fund …

EPFO Fixes 8.15% Interest Rate On EPF For 2022-23
1 year, 8 months ago

EPFO Fixes 8.15% Interest Rate On EPF For 2022-23

News 18  

The Employees’ Provident Fund Organisation has fixed 8.15% interest rate on Employees’ Provident Fund for the financial year 2022-23. “The Employees’ Provident Fund Organisation’s apex decision making body Central Board of Trustees has decided to provide 8.15 per cent rate of interest on EPF for 2022-23 at its meeting on Tuesday,” news agency PTI quoted a source as saying. The …

EPFO marginally hikes interest rate on deposits to 8.15 %
1 year, 8 months ago

EPFO marginally hikes interest rate on deposits to 8.15 %

The Hindu  

After a two-day meeting of the Central Board of Trustees of the Employees’ Provident Fund Organisation, which ended here on Tuesday, it was decided to recommend an increase of 0.05% in the interest for Provident Fund deposits. A government release said the interest rate would be officially notified in the government gazette after the approval of the Ministry of Finance, …

PF account balance: Four easy ways to check
1 year, 8 months ago

PF account balance: Four easy ways to check

India Today  

EPF, or Employees' Provident Fund, is more commonly known as PF. BY GIVING A MISSED CALL: Give a missed call to 011-22901406 from your registered mobile number to inquire about your EPF balance. BY SENDING AN SMS: From the registered mobile number, send an SMS — EPFOHO UAN — to 7738299899 to check the PF balance. Step 4: Click on …

EPFO says it has ‘no direct investments in individual stocks’
1 year, 8 months ago

EPFO says it has ‘no direct investments in individual stocks’

The Hindu  

The Employees’ Provident Fund Organisation, which manages the retirement savings of crores of formal sector workers, asserted late on March 27 that there is no direct investment of EPFO funds in any individual stocks. The retirement fund manager said it follows “passive investment in equity” by investing in Exchange Traded Funds, as per the investment pattern set by the Finance …

EPFO likely to decide rate of interest on employees’ provident fund deposits for FY23 by March 28
1 year, 8 months ago

EPFO likely to decide rate of interest on employees’ provident fund deposits for FY23 by March 28

The Hindu  

The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund deposits for 2022-23 at its two-day meeting beginning Monday. "The Employees' Provident Fund Organisation's apex decision-making body Central Board of Trustees is likely to decide the rate of interest on EPF for 2022-23 at its two-day meeting beginning on Monday afternoon," a source …

2-day EPFO board meeting from today: List of issues likely to be taken up
1 year, 8 months ago

2-day EPFO board meeting from today: List of issues likely to be taken up

Hindustan Times  

The Central Board of Trustees of the Employees Provident Fund Organisation will convene in New Delhi on Monday for a 2-day meet, during which they are expected to discuss a host of issues, including the interest rate for the financial year 2023-24. Higher pension: The board may hold detailed discussions regarding the higher pension option for subscribers after the Supreme …

’Significant drop’ achieved in EPF’s actuarial deficit, Centre informs Rajya Sabha
1 year, 8 months ago

’Significant drop’ achieved in EPF’s actuarial deficit, Centre informs Rajya Sabha

The Hindu  

A “significant drop” has been achieved in the actuarial deficit of the Employees’ Pension Fund, according to the Central government. This has become possible thanks to improvement in the quality of data in respect of members of the Employees’ Pension Scheme, 1995 and amendments carried out based on recommendations of the actuarial valuation report, and suggestions of the Union Finance …

EPF Interest Credit: Member Accounts Of 98% Contributory Firms Updated Till Mar 6, Check Details
1 year, 9 months ago

EPF Interest Credit: Member Accounts Of 98% Contributory Firms Updated Till Mar 6, Check Details

News 18  

Employees’ provident fund member accounts of 98% of contributory firms or establishments have been updated with the latest interest credit till March 6, 2023, Parliament was informed on Monday. “This is an ongoing process, which has been taken up in a scheduled manner post development of software and by March 6, 2023, the process has been completed in respect of …

EPF Board meet pushed to March 27-28
1 year, 9 months 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 …

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