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Before starting the Income tax benefits of Provident Fund or PF, Lets understand about what is Provident fund and its types. A provident fund is a type of retirement savings scheme. Generally, employees give a portion of their salaries to the PF and employers must contribute on behalf of their employees. There are mainly four types of PF and […]
Read moreThe Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has given its approval for extending the contribution both 12% employees’ share and 12% employers’ share under Employees Provident Fund (EPF), totaling 24% for another 3 months from June to August, 2020, as part of the package announced by the Government under Pradhan Mantri Garib […]
Read moreEmployees’ Provident Fund Organization (EPFO), India Ministry of Labour and Employment, Government of India has issued Instructions for transfer online EPF account during this Pandemic situation (COVID-19). In case of change of Job, it is important to switch EPF account from previous employer to the new employer. Prerequisites– Must have active UAN (Universal Account Number) […]
Read moreEmployees’ Provident Fund Organization (EPFO), India Ministry of Labour and Employment, Government of India has issued 17 Frequently Asked Questions related to Transfer of EPF accounts. Q1. How do I know if I require a PF transfer? Answers: If the member has more than one Employees’ Provident Fund (EPF) member ID i.e. EPF account and […]
Read moreEmployees’ Provident Fund Organization (EPFO), India Ministry of Labour and Employment, Government of India has issued Instructions for filing online claims from EPF Account for the purpose – “Outbreak of Pandemic (COVID-19)” Prior Conditions for Withdrawal from EPF Account- 1. Universal Account Number (UAN) Should be activated. 2. Verified Aadhaar should be linked with UAN. 3. […]
Read moreEPFO introduces email mechanism to obtain e-Sign for easing the Process of Employee Provident Fund (EPF) Compliance by Employers during Lockdown Period as employers were finding difficult to use digital or Aadhaar based e-Sign. Employees’ Provident Fund Organization, India Ministry of Labour and Employment, Government of India vide press release dated 06th May, 2020 has […]
Read moreEmployees Provident Fund Organization (EPFO), a statutory body under Union Ministry of Labour and Employment, has put in place an electronic mechanism for crediting EPF and EPS accounts of its subscribers as per the package announced by the Union Government under PM Gareeb Kalyan Yojna on 26.3.2020 for helping the poor to fight Corona pandemic. FAQs […]
Read moreQ1: What is the objective of this Scheme? Ans: The Central Govt. announced Pradhan Mantri Garib Kayan Yojana Package to help the poor fight the COVID-19 pandemic. As part of this package, with the objective to prevent disruption in the employment of low wage earning employees and support businesses employing less than one hundred employees, […]
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