EPF withdrawal: Transfer your old PF account to save income tax. Here’s how
4 years, 6 months ago

EPF withdrawal: Transfer your old PF account to save income tax. Here’s how

Live Mint  

To tide over the current economic crisis brought forth by the ongoing coronavirus pandemic, lakhs of salaried class employees have been withdrawing funds from their Employees’ Provident Fund accounts. However, in case the withdrawal happens before completion of five years of continuous service, the interest earned on the employer’s contribution and employee’s contribution is taxable as ‘income from other sources’. In case the employee does not transfer the PF account to the new employer but retains the PF account, the period will not be considered for calculating 5 years of continuous service. When you change jobs, your Universal Account Number remains the same but you need to transfer your PF account registered with old employer to the new one. Once your employer, present or past, verifies the details, your old PF account would be transferred to the new one and the old balance would be carried forward to your existing PF balance.

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History of this topic

Assigned two UANs? Here's how you can rectify it
1 month ago

Assigned two UANs? Here's how you can rectify it

India Today  

When employees switch jobs, they often apply for a new Universal Account Number to access their Employees' Provident Fund services online. As per Employees Provident Fund Organisation guidelines, a member is not allowed to hold more than one UAN. — EPFO November 27, 2024 Further, to resolve the issue of multiple UANs, employees should consolidate their previous employment details with …

If you have more than one Universal Account Number for EPF, do this now
1 month, 1 week ago

If you have more than one Universal Account Number for EPF, do this now

Live Mint  

The Employee Provident Fund Organisation allows individuals to only have one Universal Account Number. It said that in case two UANs have been issued, the member should apply to transfer money from the previous EPF account to the new one. In case the previous employer was still making payments to the old account, EPFO said, its system would recognise the …

Can you withdraw the pension share from your EPF?
1 month, 1 week 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, …

Switching jobs? You should not ignore this EPFO advice
1 month, 1 week ago

Switching jobs? You should not ignore this EPFO advice

India Today  

If you're changing jobs, the Employees Provident Fund Organisation has an important guideline. A UAN is a 12-digit number that serves as a unique identifier for your EPF account, ensuring your provident fund remains linked to you across different employers. If you have been assigned multiple UANs, you should consolidate all your previous employment details into your current UAN using …

Planning to switch your job? EPFO has an important message for you
1 month, 2 weeks ago

Planning to switch your job? EPFO has an important message for you

Live Mint  

If you are in the process of changing your job then the Employees Provident Fund Organisation has an important message for you. Another pertinent thing that the EPFO has been propagating is that the last date for employers for aadhaar-based UAN activation of its employees is Nov 30. "It is important to activate your UAN to enjoy the services of …

How To Transfer Your PF From Exempted Trust To EPFO Online?
6 months, 3 weeks ago

How To Transfer Your PF From Exempted Trust To EPFO Online?

News 18  

Transferring your Provident Fund from an exempted trust to the Employees’ Provident Fund Organization involves several steps. Here’s a comprehensive guide to help you through the process: Transfer PF From Trust To EPFO Online To file an Online Transfer Claim Application, an EPF member must be registered on the Member Portal. Steps to Transfer PF from Exempted Trust to EPFO …

EPF Subscribers With More Than One UAN Number! Here's How To Merge Them, Check Steps Here
10 months, 3 weeks ago

EPF Subscribers With More Than One UAN Number! Here's How To Merge Them, Check Steps Here

News 18  

When a working professional changes jobs, the new employer opens a new Employees Provident Fund account for the employee. If he/she changes jobs without providing his Member ID and UAN, the new employer may open a new UAN and EPF account. When registering an EPF account with a new employer, an EPF member should provide their UAN. Universal Account Number: …

Should I withdraw my PF account corpus?
1 year ago

Should I withdraw my PF account corpus?

Live Mint  

I left my job recently after working there for five years and two months. —Name withheld on request Since your current employer is not covered under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, it will be unable to establish a PF account on your behalf. Given the absence of a new PF account with your current employer, the …

Provident Fund alert: EPFO to transfer money to more than 7 crore subscribers, steps to check balance
1 year, 5 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, …

How EPF account holders can update their exit date after changing jobs
1 year, 6 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 …

Tax On PF Withdrawal: Why You Must Merge Your Previous PF Account With New One
1 year, 7 months ago

Tax On PF Withdrawal: Why You Must Merge Your Previous PF Account With New One

News 18  

Many of us change jobs every 2-3 years to secure higher salaries and better opportunities. When you switch jobs, you provide your UAN to the new employer, who subsequently opens another PF account under the same UAN. It is essential to merge your previous PF account with the new one after opening the latter. Rule of PF withdrawal As per …

How To Withdraw Money From EPF Account: Step-by-step Process Explained
1 year, 8 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 …

PF account balance: Four easy ways to check
1 year, 9 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 …

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 rate slashed from 8.5% to 8.1% for 2021-22, to hit savings
2 years, 10 months 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. …

How to withdraw money from your Employees’ Provident Fund online?
2 years, 11 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, 11 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 …

PF Update: Switched Jobs? How You Can Transfer Your PF Balance Online
3 years ago

PF Update: Switched Jobs? How You Can Transfer Your PF Balance Online

News 18  

PF Update: Switching a job means that an employee has to go through a number of changes, which includes updating a lot of paperwork. One of the most important tasks in this regard is paperwork related to your provident fund account balance, which needs to be transferred from your previous employer to your present one. Since the launch of the …

EPF online: EPFO recommends 6 simple steps to transfer provident fund (PF)
3 years 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 Update: EPF Interest Credited. How to Check EPF Balance With UAN, Without UAN
3 years, 1 month ago

PF Update: EPF Interest Credited. How to Check EPF Balance With UAN, Without UAN

News 18  

Days after giving sanction to increased interest rates in provident fund account, retirement body Employees Provident Fund Organisation on Monday, November 29, announced that 21.28 crore accounts have been credited with the interest rate of 8.5 per cent for FY 2021-22. How to Check EPFO Balance via EPFO Member e-Sewa Portal You will be able to check your PF balance …

PF Rules: Want to Withdraw EPF Contributions? Key Things to Know before Withdrawal
3 years, 2 months ago

PF Rules: Want to Withdraw EPF Contributions? Key Things to Know before Withdrawal

News 18  

Many people working in the private sector are resorting to their provident fund accounts, majorly due to the financial crunch owing to the Covid-19 pandemic. Employees’ Provident Fund Organisation, which regulates Employees Provident Funds, gives the subscribers the option of early withdrawal from their PF corpus under certain circumstances. People looking to get out a specific amount from their PF …

PF Interest: 6 Cr likely to Get 8.5% Interest before Diwali. How to Check EPF Balance
3 years, 3 months ago

PF Interest: 6 Cr likely to Get 8.5% Interest before Diwali. How to Check EPF Balance

News 18  

The Employees’ Provident Fund Organization will likely to credit the interest on provident fund deposits for the financial year 2020-21 soon. The retirement body kept the interest rate unchanged on the provident fund deposits at 8.5 per cent for the financial year 2020-21. In March, 2020, the central government introduced a special provision under Pradhan Mantri Garib Kalyan Yojana which …

PF Rule Update: Changing Jobs? Know How You can Transfer EPF Account Online
3 years, 4 months ago

PF Rule Update: Changing Jobs? Know How You can Transfer EPF Account Online

News 18  

The age of digitisation and the increased level of smartphone penetration in the Indian market means that much of our day-to-day chores can be done on the go, where ever we happen to be. Step 3: Go to the ‘online services’ section once you have logged in and click ‘One Member One EPF account ’. Step 4: Verify your personal …

Split accounts to tax EPF income: Finance Ministry
3 years, 4 months ago

Split accounts to tax EPF income: Finance Ministry

The Hindu  

The government has decided to split existing Provident Fund accounts into two separate accounts in order to operationalise the new tax on PF income arising out of employee contributions exceeding ₹2.5 lakh a year. Accordingly, all EPF accounts will have to be bifurcated into a taxable and non-taxable contribution account, with the latter including their closing account balance as on …

Want to create a UAN number online? Here's a quick guide
3 years, 5 months ago

Want to create a UAN number online? Here's a quick guide

India Today  

Universal Account Number is a unique identification number provided to the members of the Employees' Provident Fund Organisation. Since all the important services are now operated online, UAN allows a Provident Fund account holder to access their services, such as withdrawal, checking EPF balance without depending on the employer and it has also made the process of obtaining the PF …

PF Interest: 6 Crore likely to Get 8.5% Interest by Month-end. How to Check EPF Balance
3 years, 5 months ago

PF Interest: 6 Crore likely to Get 8.5% Interest by Month-end. How to Check EPF Balance

News 18  

The Employees’ Provident Fund Organization will likely to credit the interest on provident fund deposits for the financial year 2020-21 soon, according to reports. The retirement body kept the interest rate unchanged on the provident fund deposits at 8.5 per cent for the financial year 2020-21. In March, 2020, the central government introduced a special provision under Pradhan Mantri Garib …

PF Withdrawal: A Step-by-Step Guide to Withdraw EPF Money Online, Offline
3 years, 5 months ago

PF Withdrawal: A Step-by-Step Guide to Withdraw EPF Money Online, Offline

News 18  

The EPF, which is also referred to as PF, is a mandatory saving and retirement scheme designed for employees. PF Account Withdrawal Conditions An individual’s PF amount can be withdrawn either completely or partially. The Withdrawal Process Offline Withdrawal You simply need to download the Composite Claim Form or the Composite Claim Form and submit the filled form to withdraw …

PF Withdrawal: 5 Mistakes to Avoid While Taking Out Money from EPF Account
3 years, 6 months ago

PF Withdrawal: 5 Mistakes to Avoid While Taking Out Money from EPF Account

News 18  

The recession caused due to the pandemic is hitting the working class hard in India. In principle, an employee’s accrued or a portion of the money in an EPF account may be withdrawn in the case of retirement or resignation. However, if you want to claim your PF, avoid these 5 mistakes: UAN Seed Bank Account: The UAN should be …

Aadhaar-EPF Linking Mandatory for PF Withdrawals, Benefits: How to Do it Online
3 years, 6 months ago

Aadhaar-EPF Linking Mandatory for PF Withdrawals, Benefits: How to Do it Online

News 18  

Employees’ Provident Fund Organization has made it mandatory to link Aadhaar Card with PF UAN to get PF contributions from the employers and other benefits. Now, the Employees Provident Fund subscribers have time till August 30 to link their Aadhaar card with the Provident Fund accounts. Here’s how you can link your Aadhaar Card with your PF account 1) Visit …

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, 7 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 …

How to check PF account balance: Here are four simple ways
3 years, 8 months ago

How to check PF account balance: Here are four simple ways

India Today  

PF is the popular name for EPF or Employees’ Provident Fund. To check EPF balance, make sure that the employer has activated your Universal Account Number. By giving a missed call You can inquire about your EPF balance by giving a missed call to 011-22901406 from your registered mobile number. By sending an SMS The PF balance can be checked …

What happens if you don’t transfer your PF account after changing job
3 years, 8 months ago

What happens if you don’t transfer your PF account after changing job

Live Mint  

Provident Fund is mainly considered as a retirement-oriented investment option, which is mandatory for an employee. However, due to the lack of Universal Account Number or UAN and PF account number and some formalities required for transfer of the EPF account, it has been found that employees don't transfer their previous EPF account to the new place of work. In …

Forgot UAN? Here Are Steps To Check PF Balance Or Withdraw Money Without The Number
3 years, 8 months ago

Forgot UAN? Here Are Steps To Check PF Balance Or Withdraw Money Without The Number

ABP News  

One of the many saving instruments which is also considered the most reliable retirement-focused reserve is the Provident Fund or PF account. READ: Second Covid Wave Could Cause 'Greater Uncertainty', Says Niti Aayog Official As per the PF withdrawal norms, an EPF account subscriber can opt for withdrawal in certain conditions such as job loss, repayment of a home loan, …

How to update bank account details in EPF account: Step-by-step guide
3 years, 9 months ago

How to update bank account details in EPF account: Step-by-step guide

India Today  

The Employees’ Provident Fund Organisation is a statutory body under the Employees’ Provident Fund Act, 1956. EPFO gives the facility for the account holders to update their bank account details online on the UAN EPFO portal hassle-free. Check here the step-by-step guide for the users to update bank account details in the EPF account. Here is how to update bank …

Want to Transfer Provident Fund (PF) Online? Know How to Do It
3 years, 10 months ago

Want to Transfer Provident Fund (PF) Online? Know How to Do It

News 18  

Once an individual starts his career by working in any of the Provident Fund registered organizations he/she gets registered for PF purpose and then both the employee and employer contribute that fund. However, if you have switched your company and want to transfer your provident fund from your previous company to a new account opened by the current employer, you …

Want to Change Mobile Number and Activate UAN on EPFO Portal? Here is How to Do it
3 years, 11 months ago

Want to Change Mobile Number and Activate UAN on EPFO Portal? Here is How to Do it

News 18  

The Universal Account Number is a 12 digit unique number assigned to every member of the Employee Provident Fund Organisation who contributes to the Employees’ Provident Fund scheme. By following the below-mentioned steps one can easily activate the UAN online on EPFO portal: Step 1: You will first need to visit the EPF member portal by clicking – https://unifiedportal-mem.epfindia.gov.in/memberinterface/ Step …

How to Log Into EPFO Using Your UAN
4 years, 1 month ago

How to Log Into EPFO Using Your UAN

News 18  

The Universal Account Number has become an essential part of the the Employee Provident Fund services, which are now easily accessible online. The UAN is a 12-digit account number allotted by the EPFO to every employee and it remains the same for he/she for his entire life, irrespective of how many jobs he changes. Your UAN number will then be …

Here’s how you can withdraw your EPF corpus online
5 years ago

Here’s how you can withdraw your EPF corpus online

Live Mint  

If you are a salaried employee who makes regular contribution towards the Employees’ Provident Fund, we recommend you stay put until it’s time for you to retire because it’s more of a retirement product. The launch of twin facilities in the year 2017, one of online withdrawal facility and the other of single claim form has significantly contributed towards making …

Now employees can generate UAN from EPFO portal directly, no need to depend on employers
5 years, 2 months ago

Now employees can generate UAN from EPFO portal directly, no need to depend on employers

Firstpost  

Now, any worker can obtain UAN directly on EPFO website which enrolls them for PF, pension and life insurance benefits and a worker will not have to depend on his or her employer for getting the UAN. New Delhi: Retirement fund body EPFO on Friday launched a facility for formal sector workers to obtain universal account number online without depending …

How to transfer Employees Provident Fund (EPF) balance online
5 years, 2 months ago

How to transfer Employees Provident Fund (EPF) balance online

Live Mint  

Employees Provident Fund is a savings tool that gives guaranteed tax-free returns. If so, ensure that you transfer your old EPF balance to the new account with the current employer. Here is a step-by-step procedure on how to transfer balance from previous employer to new employer online 1) Login to your EPF account online with your UAN and password. 2) …

EPF account becomes inoperative if an employee migrates abroad permanently
5 years, 3 months ago

EPF account becomes inoperative if an employee migrates abroad permanently

Live Mint  

I am 52 years old and the company I was with closed its operation on 31 May 2016. As per the provisions of the Indian PF law, a PF account becomes inoperative and does not earn further interest, where an employee retires from service after attaining the age of 55 years or migrates abroad permanently or dies and does not …

EPFO to automatically transfer your PF balance when you change jobs. 5 things to know
5 years, 10 months ago

EPFO to automatically transfer your PF balance when you change jobs. 5 things to know

Live Mint  

Having your provident fund balance transferred from your ex-employer will become an automated process as the Employees Provident Fund Organisation is doing away with the cumbersome manual process in place now. The EPFO has announced that from next fiscal year you will have to no longer fill up employee provident fund transfer claims on changing jobs. 5 things to know …

No need to file transfer of EPF claims on job change, process to become automated from next fiscal
5 years, 10 months ago

No need to file transfer of EPF claims on job change, process to become automated from next fiscal

Firstpost  

This will enable the employee to get the credits of his EPF contribution during his previous tenure with old employer into his or her UAN automatically New Delhi: Subscribers of retirement fund body EPFO would not require to file employee provident fund transfer claims on changing jobs from the next fiscal as the process would be made automated, according to …

You don’t need to transfer EPF while changing your job from next fiscal
5 years, 10 months ago

You don’t need to transfer EPF while changing your job from next fiscal

Live Mint  

New Delhi: Subscribers of retirement fund body EPFO would not require to file employee provident fund transfer claims on changing jobs from the next fiscal as the process would be made automated, according to a labour ministry official. At present, the subscribers of the Employees Provident Fund Organisation are required to file transfer of EPF claims on changing jobs despite …

What happens to your EPF account when you are relocating abroad
5 years, 10 months ago

What happens to your EPF account when you are relocating abroad

Live Mint  

So you’ve got that dream opportunity and are jet-setting off to a new country. If your Universal Account Number is linked to your Aadhaar, you can use the Aadhaar-based withdrawal form and approach the EPFO office directly, without the intervention of your former employer. While an EPF account that hasn’t received any contributions for three years is considered inoperative, the …

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