Sudden Need Of Funds? Step-By-Step Guide To Advance Withdrawal of EPF
1 year, 9 months ago

Sudden Need Of Funds? Step-By-Step Guide To Advance Withdrawal of EPF

News 18  

The Employees’ Provident Fund is a retirement savings programme provided to salaried employees. To cover specific financial unforeseen needs, such as medical treatment, a wedding, schooling, home loan, and house construction costs, the Employee Provident Fund Organisation authorises EPF members to make advance withdrawals from their accounts. Here is how you can apply for EPF advance withdrawal online Step 1: Go to the e-SEWA portal of the EPFO. Step 4: Enter your bank account information on the new page that opens and select “Verify” to continue. Step 5: Click on “Proceed for Online Claim” and then choose the “I Want to Apply For” link to choose the claim you wish to submit.

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History of this topic

EPFO members may soon approve their own PF withdrawals: Report
1 week ago

EPFO members may soon approve their own PF withdrawals: Report

India Today  

The Employees’ Provident Fund Organisation is planning to introduce a “self-approval” mechanism for subscribers to withdraw their provident fund money through an automated process. As part of this upgrade, subscribers will soon be able to intimate the EPFO directly about their withdrawal amount, instead of going through the existing manual checks by EPF officers. Sources also revealed that a digital …

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 …

How PF withdrawal from ATMs could benefit you, starting in 2025
1 week, 4 days ago

How PF withdrawal from ATMs could benefit you, starting in 2025

India Today  

All servicemen and women with ensured PF accounts will likely be able to withdraw PF directly from ATMs without undergoing lengthy bank procedures. Dawra noted that more than 7 crore workers joined PF coverage since 2017, strengthening India's social security system. The Employees Provident Fund Organisation plans to link PF accounts to an ATM-compatible system, allowing subscribers to access their …

Can you withdraw the pension share from your EPF?
3 weeks, 1 day 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: Want to apply for partial withdrawal of your provident fund corpus? 10 steps to follow
1 month, 2 weeks ago

EPF: Want to apply for partial withdrawal of your provident fund corpus? 10 steps to follow

Live Mint  

If you have already accumulated a considerable chunk of corpus in your EPF account then you can use the money for any of the purposes given in the rules. These include marriage or post matric education of children, withdrawal within one year before retirement, illness in certain cases for own treatment or family, purchase of house/flat, construction of house including …

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 …

EPFO Pension: Here Are The Different Types And Their Benefits
3 months, 3 weeks ago

EPFO Pension: Here Are The Different Types And Their Benefits

ABP News  

EPFO Pension: The Employees' Provident Fund Organisation offers a range of pension options to its members, provided they meet specific criteria. Early Pension Members who qualify for an EPFO pension have the option to start receiving it as early as age 50, although this comes with a reduction of 4 per cent per year. Widow or Child Pension In the …

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 …

Are you withdrawing your EPF? Know these criteria and rules
1 year, 4 months ago

Are you withdrawing your EPF? Know these criteria and rules

Live Mint  

Many Employees Provident Fund Organization subscribers have inquired on social media platforms about the interest amount that is yet to be credited to their provident fund accounts. To initiate the withdrawal of EPF funds due to unemployment, the account holder must complete a withdrawal application form and furnish evidence of their joblessness. The following supplementary documents may be requisite for …

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. …

EPF Update: Govt Approves 8.15% Interest Rate for Fiscal 2023-24; Details Here
1 year, 5 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 …

How EPF account holders can update their exit date after changing jobs
1 year, 5 months ago

How EPF account holders can update their exit date after changing jobs

Live Mint  

Have you changed your job? And now you are worried about how to update the exit date in your Employees Provident Fund account. Subscribers can update their exit date online after changing jobs with the EPFO 'date of exit' facility on the EPF portal. A step-by-step guide to updating date of exit on EPF portal 1)Visit the Member sewa portal …

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 …

How To Withdraw Money From EPF Account: Step-by-step Process Explained
1 year, 7 months ago

How To Withdraw Money From EPF Account: Step-by-step Process Explained

News 18  

In situations where immediate funds are required and no alternative solutions are available, one can consider withdrawing money from their Employee Provident Fund. Check Online Step-By-Step Guide To Add Details In the EPF scheme, the employee is required to contribute 12 percent of their basic salary each month, and the company matches this contribution. Easy process Previously, employees encountered difficulties …

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 …

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 …

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 …

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 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 …

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 …

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 …

Confused Between PPF And EPF? Here's What You Should Know Before Investing
1 year, 9 months 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
1 year, 9 months 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" - …

Is the higher pension scheme worth it? All you need to know
1 year, 9 months ago

Is the higher pension scheme worth it? All you need to know

India Today  

The Employees Provident Fund Organisation has announced a new set of guidelines for employees who want to increase their pension. EPF HIGHER PENSION: NEW GUIDELINES A disclaimer should be included in the joint option/higher pension claim application. EPF HIGHER PENSION: DOCUMENTS REQUIRED The following papers should be supplied with the higher pension claim application: Evidence of a joint option is …

EPFO issues guidelines for employees, pensioners to opt for higher pension
1 year, 10 months 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 …

How to file EPF e-Nomination and what are its benefits?
2 years, 2 months ago

How to file EPF e-Nomination and what are its benefits?

Live Mint  

In the event of the EPF account holder's demise, e-nomination enables the nominee or dependents to withdraw accrued money from EPF, Employees' Pension Scheme, and Employees' Deposit Linked Insurance Scheme. To provide social security benefits to the dependent members, the Employees' Provident Fund Organisation introduced the e-nomination process for members of Employees' Provident Fund accounts in March 2022. Benefits of …

How can one withdraw money from EPFO?
2 years, 7 months ago

How can one withdraw money from EPFO?

Live Mint  

I resigned from my job in September 2017 and my last contribution to the Employees’ Provident Fund Organization was in August 2017, at the age of 50 years. As per provisions of Employee Provident Fund scheme, 1952, interest shall not be credited to the account of a member from the date on which the account has become an inoperative account. …

EPF alert: Simple steps to change EPS, PF nomination
2 years, 9 months ago

EPF alert: Simple steps to change EPS, PF nomination

India Today  

Employees' Provident Fund members can file new nominations to change existing PF or Employees' Pension Scheme nominations. Employees Provident Fund Organisation has also asked its members to file e-nomination online through UAN to ensure social security for family or nominee. "If an EPF member wants to change an existing EPF or EPS nomination, then she or he can file new …

How to withdraw money from your Employees’ Provident Fund online?
2 years, 10 months ago

How to withdraw money from your Employees’ Provident Fund online?

Live Mint  

In India, a fixed amount of money, 12%, is deducted from an employee’s salary every month and deposited in an EPF account along with a matched contribution by the employer. This is a retirement savings scheme, for corporate employees, mandated by the government known as the Employees’ Provident Fund. The first step is logging on to EPFO’s e-sewa portal using …

Your EPF money will be tax free | Details here
2 years, 10 months ago

Your EPF money will be tax free | Details here

India Today  

It is essential to ensure a steady flow of income after retirement. Employees' Provident Funds offer one of the best retirement plan investment approaches. INCOME TAX FREE If an employee never withdraws the PF amount during his/her working tenure, that individual stands to gain a lot of advantages during the time of retirement. If an employee does not withdraw money …

Omicron: Need Cash? You Can Withdraw Rs 1 lakh From PF Account. Here's How
2 years, 11 months ago

Omicron: Need Cash? You Can Withdraw Rs 1 lakh From PF Account. Here's How

News 18  

PF Withdrawal: The Omicron variant of Covid-19 has gripped the world to become the most dominant strain of the coronavirus, and India is no exception. The EPFO in its notification issued last year amid the Delta wave, said, that in case of life threatening diseases, it becomes “imperative to get the patient immediately admitted in hospital on emergency to save …

EPF online: EPFO recommends 6 simple steps to transfer provident fund (PF)
2 years, 11 months ago

EPF online: EPFO recommends 6 simple steps to transfer provident fund (PF)

Live Mint  

EPF online: Employees' Provident Fund Organisation has been taking different initiatives to simplify its services. EPF transfer online is one of the EPFO services that can be done online by logging in at the EPFO member portal. To make provident fund or PF account transfer online more simple, EPFO has suggested 6 simple steps from its official twitter handle. As …

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

PF Rule Update: E-nomination must to get Rs 7 lakh Free Insurance, Pension. How to do it
3 years, 2 months ago

PF Rule Update: E-nomination must to get Rs 7 lakh Free Insurance, Pension. How to do it

News 18  

It was recently announced that the Employees’ Provident Fund Organisation members can file their nomination for PF, pension and insurance benefits online. Step 2: From the options available, tap on ‘ Service’ Step 3: A new set of options will appear, and you have to choose the one reading – ‘For Employees’ Step 4: Click on ‘Member UAN/ Online Service …

Decoded: What is Provident Fund and when can you withdraw money from it?
3 years, 2 months ago

Decoded: What is Provident Fund and when can you withdraw money from it?

Business Standard  

An employees' provident fund is a government-managed retirement savings scheme for employees. Every month, employees contribute a part of their salary towards provident fund. Of the latter contribution, 3.7 per cent goes towards the provident fund component and the remaining 8.33 per cent towards pension fund. In March 2020, the EPFO lowered the interest rate on employees’ provident fund to …

PF withdrawal: Here's how you can get Rs 1 lakh medical advance instantly | Check details
3 years, 4 months ago

PF withdrawal: Here's how you can get Rs 1 lakh medical advance instantly | Check details

India Today  

The novel coronavirus pandemic has brought economic activities to a halt and has made it difficult for people to meet their expenses, be it medical or household. The new rule of the Provident Fund allows its employees to withdraw Rs 1 lakh advance for emergency medical treatment or hospitalization instantly without producing any documents. The revisited and streamlined circular highlights …

EPF withdrawal: Step-by-step guide to withdraw money online
3 years, 6 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 Withdrawal Rule Change: Your EPF Claims Will be Settled in 3 Days, How to Apply
3 years, 6 months ago

PF Withdrawal Rule Change: Your EPF Claims Will be Settled in 3 Days, How to Apply

News 18  

Employee Provident Fund Organization has recently allowed the subscribers to withdraw money from their Provident Fund accounts as non-refundable advance. The new rule EPFO members must know: Earlier, the retirement body used to allow subscribers to withdraw non-refundable advance in certain cases like illness, buying a house etc. In 2020, the central government amended Provident Funds Scheme, 1952 to permit …

Need Emergency Cash During COVID? Know How to Withdraw From PPF, Bank FDs, PF, NPS
3 years, 7 months ago

Need Emergency Cash During COVID? Know How to Withdraw From PPF, Bank FDs, PF, NPS

News 18  

Severe second wave of Covid-19 has hugely impacted the lives of people from all spheres. Several are considering premature withdrawals from their investment schemes such as Provident Fund, National Pension System or fixed deposits in case of emergency cash requirements. Public Provident Fund As per PPF guidelines, funds can be withdrawn from the PPF account only after the period of …

EPF withdrawal upon premature death of a family member: All you need to know
3 years, 7 months ago

EPF withdrawal upon premature death of a family member: All you need to know

India Today  

The Employee Provident Fund is a retirement benefits scheme in which employees of an organization contribute a small proportion of their basic salary. Steps to withdraw EPF In case of the unfortunate death of a member, the family gets insurance of up to 7 lakhs under the EDLI scheme and monthly widow/child/orphan pension under the EPS scheme. The family, minor …

EPF Withdrawal Rules: Here's How to Buy Your Dream Home with the Help of PF
3 years, 7 months ago

EPF Withdrawal Rules: Here's How to Buy Your Dream Home with the Help of PF

News 18  

Purchasing a house is on every family’s checklist. As per the PF withdrawal rules for property purchase, one can withdraw from the PF up to 90 per cent of the balance for buying a home or for home construction on a land. Person who wish to withdraw PF amount for plot buying or for the construction of home or for …

Partial PF withdrawal is allowed for EPFO subscribers under certain conditions
3 years, 8 months ago

Partial PF withdrawal is allowed for EPFO subscribers under certain conditions

Live Mint  

Provident Fund or PF account is considered one of the most reliable retirement-oriented fund accumulators. However, according to the PF withdrawal norms, an EPF account holder can go for the Provident Fund or PF withdrawal in certain conditions like loss of job, repayment of home loan, buying a home or home renovation, etc. Speaking on the PF withdrawal rules that …

EPFO Withdrawals Hit Rs 30,000 Crore as 80 Lakh People Dig Into Their Retirement Fund
4 years, 4 months ago

EPFO Withdrawals Hit Rs 30,000 Crore as 80 Lakh People Dig Into Their Retirement Fund

News 18  

Amid the COVID-19 outbreak, 80 lakh Employee Provident Fund Organisation subscribers have withdrawn as much as Rs 30,000 crore in less than four months starting from April. The amount withdrawn by EPFO subscribers exceeded the usual outgo recorded during the period, which could be due to layoffs, pay cuts and medical expenses, according to a report by The Economic Times. …

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