Tue, Sep 03, 2024
Common Job-Related Mistakes: Retirement planning is an important aspect of financial stability. If a person wants a comfortable life after retirement, it is essential for him/her to have a solid pension plan.
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Thu, Aug 29, 2024
EPFO Pension: EPFO offers seven different types of pensions. So, if you also work in the private sector and are an EPFO member, it’s important for you to be aware of these options.
Fri, Aug 23, 2024
During the financial year 2023-24, India saw the addition of 1.09 crore new Employees' Provident Fund (EPF) subscribers, according to the Ministry of Statistics and Programme Implementation. This data reflects the growth in the formal job sector.
To get Rs 4 crore on retirement, one needs to contribute Rs 11,200 per month for 40 years. On maturity, you will get a total of Rs 4,02,59,738.7 at current interest rate of 8.25 per cent.
Fri, Aug 16, 2024
Employees' Provident Fund Organisation (EPFO) provides monthly pension to its participants after the age of 58. If someone wants to get an early pension, they should be atleast 50-year old, according to EPFO rules. Images: Pixabay, Pexels, Unsplash
Fri, Aug 09, 2024
EPF contributions up to Rs 1.50 lakh in a financial year gives tax relaxation under Section 80C of the Income Tax Act. This facility is provided to old tax regime taxpayers.
Tue, Aug 06, 2024
EPFO Monthly Pension: An EPF account holder is eligible to receive a monthly pension at the age of 58. However, under certain conditions, they can also start receiving the monthly pension at the age of 50 if they have completed 10 years of service.
Mon, Aug 05, 2024
The EPFO program pays pensions to its participants once they reach the age of 58. However, a member must be at least 50 years old to receive an early pension under the EPFO system. However, for a normal pension, the age must be 58.
Tue, Jul 23, 2024
She announced that working women hostels will be set up in the country to promote women's participation in the workforce.
Tue, Jul 16, 2024
The primary objective of EPFO is to ensure financial security for employees during retirement.
Mon, Jul 15, 2024
EPF Calculator: The Employees' Provident Fund Organisation (EPFO) provides 8.25 per cent annual compound interest on EPF contributions. An employee can contribute a maximum of 12 per cent of their basic salary and dearness allowance (DA) to the EPF account. The employer matches the same amount and deposit in the employee's EPF account.
Fri, Jul 12, 2024
The EDLI Scheme provides benefits exclusively for deaths occurring during active service, highlighting limitations post-employment.
Wed, Jul 10, 2024
After Spicejet reportedly did not deposited subscribers' money into their account, the retirement fund body in a bid to protect investors has issued new SOP guidelines.Fum
Wed, Jul 03, 2024
EPFO Benefits: This scheme was established by the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, with the objective of providing retirement benefits to the employees of any organisation.
Mon, Jul 01, 2024
EPFO: An employee can contribute up to 12 per cent of their basic salary and dearness allowance (DA) to their EPF account. The employer also contributes an equal amount, but its amount is distributed in two parts. While 3.67 per cent of it goes into the EPF account, 8.33 per cent goes to the Employee Pension Scheme (EPS) account. The EPF offers a lot of tax benefits. Deposits up to Rs 1.50 lakh in a financial year are tax-exempt under Section 80C of the Income Tax Act.
Sun, Jun 30, 2024
This scheme is regulated by the Employees' Provident Fund Organization (EPFO), which is a statutory body under the Ministry of Labour and Employment, Government of India.
Fri, Jun 28, 2024
Under EPF, both the employer and the employee contribute to a pool of funds. The contribution from both stands at a maximum of 12 per cent of the basic salary and dearness allowance (DA) of an employee.
Fri, Jun 21, 2024
EPFO latest enrollment data: The Ministry of Labour and Employment said that it had added 18.92 lakh net members during April 2024, a record since the ministry started collecting data in April 2018, a 31.29 per cent surge from the corresponding figure for March 2024. The five states with the most new EPFO members are Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Haryana.
Thu, Jun 20, 2024
EPF Calculation: Employees' Provident Fund (EPF) is a popular retirement scheme that provides a lump sum amount and a monthly pension upon retirement. The central government decides the interest rate of the EPF interest rate every year. For the financial year 2023–24, the EPF interest rate is 8.25 per cent per year.
Tue, Jun 18, 2024
Here are essential FAQs to clarify the EPFO UAN (Employee Provident Fund Organisation Universal Account Number), which plays a critical role in efficiently managing your Provident Fund. This distinct 12-digit identifier simplifies tasks such as fund transfers and withdrawals between employments.
Mon, Jun 17, 2024
EPF is also a tax saving scheme under Section 80C of the Indian Income Tax Act. Under this scheme, both employer and employee contribute 12 per cent of the employee's basic salary every month. The Employees' Provident Fund Organisation (EPFO) has set the interest rate for the fiscal year 2023-24 at 8.25 per cent, up from the previous year's rate of 8.15 per cent. This judgement affects millions of EPF members around the country.
Thu, Jun 13, 2024
EPF account: The EPF money helps you to make your future financially stronger. It also works as a financial backup for emergencies. It is also a tax saving scheme under Section 80C of the Indian Income Tax Act.
Wed, Jun 12, 2024
EPF is a retirement investment scheme run by Employees' Provident Fund of India (EPFO). Every month, an employee contributes to their EPF account. The maximum amount they can contribute every month is 12 per cent of their basic salary and dearness allowance (DA). The employer also has to contribute an equal amount to the employee's EPF account.
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