So the Employees’ Provident Fund Organisation (EPFO) has some big news for crores of workers. On Monday, March 2, 2026, the Central Board of Trustees (CBT) met to decide on your savings. The goal? To keep your retirement funds growing despite global market shifts. In fact, the board has recommended that the government retain the interest rate at 8.25% for the 2025-26 period. Plus, they approved a wave of new reforms to make claim settlements faster.

Why the Rate Stayed at 8.25%

But here is the main reason for this choice. Union Labour Minister Mansukh Mandaviya chaired the meeting and noted that the fund is in strong financial shape. Is the rate low compared to others? No. Consequently, the EPFO still offers a very high and stable return compared to most other safe investments. Moreover, the board wants to protect workers’ security during times of global uncertainty. Previously, the rate was 8.15% before jumping to 8.25%. So, keeping it steady ensures a predictable growth path for your nest egg. Therefore, your retirement planning can stay on track.

Major Reforms and the Amnesty Scheme

Still, the interest rate was not the only big topic. The board also approved a six-month amnesty scheme for trusts and companies. The plan? To bring all groups into the legal fold without hitting them with heavy fines. And, this move primarily protects the interests of the workers in those firms. Accordingly, more employees will now receive their full statutory benefits.

But what about the “Code on Social Security”? The CBT approved new versions of the EPF, EPS, and EDLI schemes to match the latest laws. Why? To make the audit process more transparent and paperless. Essentially, this unified framework promotes the “ease of doing business” while catching rule-breakers through risk-based online checks. Indeed, these updates will replace the old systems to make the fund more modern.

EPFO Performance: Key Figures (2026)

Final Budget and Growth Update

Then there is the matter of the fund’s reach. The board learned that over 1.22 crore new members joined the EPFO recently. This shows that more workers are now entering the formal workforce. Worth noting: The CBT also approved the budget estimates for 2026-27 during this session. Ultimately, the EPFO aims to deliver “sustainable and attractive” returns while making the withdrawal process easier than ever.

Frequently Asked Questions (FAQs)

When will the 8.25% interest be credited to my account? So, the board makes the suggestion first, and then the Finance Ministry must give its final nod. Because of this, you can expect the actual credit into your passbook later in the financial year.

What is the new “auto-initiation” pilot project? In fact, this reform aims to settle claims in inoperative accounts without the member asking first. Additionally, this will help thousands of people recover forgotten money in old PF accounts.

Will the minimum pension also increase this year? But while the board discussed the demand for a higher minimum pension, no final decision was made on a specific hike today. Consequently, retirees should wait for further official updates from the Labour Ministry.

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Also Read | Missed Dec 31 ITR Deadline? Here is Your Recovery Roadmap

This marks the seventh consecutive quarter where the government has maintained the status quo, choosing to prioritize the savings of middle-class investors and retirees over the mathematical formula suggested by market trends.

1. The Decision: Data vs. Policy

While the formula based on the Shyamala Gopinath Committee recommendations suggested a lower rate, the government exercised its discretion to keep the rate steady.

Also Read | Missed Dec 31 ITR Deadline? Here is Your Recovery Roadmap

2. 2026 Key Rules & Benefits

The PPF remains one of the most powerful tax-saving instruments in India under the EEE (Exempt-Exempt-Exempt) regime.

• Investment Limits: Minimum of ₹500 and a maximum of ₹1.5 Lakh per financial year.

• Tax Benefit: Contributions are tax-deductible under Section 80C (Old Regime).

• Compounding: Interest is calculated monthly (based on the balance between the 5th and the last day) but credited annually on March 31.

• Withdrawals: Partial withdrawals are typically allowed after 5 years, while the account matures after 15 years.

3. Small Savings Rates (Jan–Mar 2026)

The government kept rates steady across most small savings schemes to provide stability in the new year…

Also Read | Missed Dec 31 ITR Deadline? Here is Your Recovery Roadmap

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This marks a significant stretch of continuity, as the PPF rate has remained at this level since April 2020.

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Interest Rates for Small Savings Schemes (Q4 FY 2025-26)

The government has opted for a “status quo” approach across all major instruments. Below are the finalized rates for the upcoming quarter:

The “Why” Behind the 7.1% Rate

The government typically uses the Shyamala Gopinath Committee formula, which suggests linking rates to 10-year G-Sec (Government Security) yields with a 25-basis point spread.

• The Gap: Current 10-year G-Sec yields suggest a lower rate (around 6.6% to 6.8%).

• The Decision: By maintaining 7.1%, the government is offering a “social safety net” premium, keeping the rate higher than what the strict formula would dictate to protect the interests of long-term savers and retirees.

Also Read | One Cigarette for ₹72? New Excise Bill Targets Tobacco (2025)

Quick Facts for Investors

• Tax Benefit: PPF remains one of the few EEE (Exempt-Exempt-Exempt) investments. Your investment (up to ₹1.5 lakh), the interest earned, and the maturity amount are all tax-free under the old tax regime.

• Lock-in: 15 years, with partial withdrawal allowed after the 7th year.

• Safety: Being government-backed, it carries zero credit risk, making it a preferred alternative to Bank FDs during volatile market cycles….

Also Read | One Cigarette for ₹72? New Excise Bill Targets Tobacco (2025)

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Investment in the scheme gives good returns (PPF maturity calculator) and tax saving option. If you are doing retirement planning or want to earn good income from investment in the long term, then you can choose this scheme. The scheme is more popular by the name of PPF.

Why is PPF considered the best option?

Public Provident Fund (PPF) is most popular because the money deposited in it, the interest received and the amount received on maturity (PPF Maturity Calculator) are completely tax free. This means that it is kept in the EEE category. EEE means Exempt. There is an option to claim tax exemption on deposits every year. No tax has to be paid on the interest received every year. Once the account matures, the entire amount will be tax free.

Who can invest in PPF?

Any citizen of the country can invest in Small Savings Scheme (PPF). It can be opened in post office or any bank. A minimum of Rs 500 and a maximum of Rs 1,50,000 can be invested every financial year. Interest is calculated on an annual basis. However, interest is decided on a quarterly basis. Currently, 7.1% interest is being received on PPF.

The maturity period is 15 years. There is no facility to open a joint account in the scheme. However, a nominee can be made. There is also no option to open a PPF account in the name of HUF. In the case of children, the name of the guardian is included in the PPF account. But, it remains valid only till the age of 18.

How can PPF really make you a crorepati? ( Can PPF make you a crorepati? )

PPF is a scheme in which it is easy to become a millionaire. For this, regular investment is required. Suppose you are 25 years old and you have started PPF. If you deposit Rs 1,50,000 (maximum limit) in the account between 1st to 5th at the beginning of the financial year, then at the beginning of the next financial year, Rs 10,650 will be deposited from interest only. Meaning, on the first day of the next financial year, your balance will be Rs 1,60,650.

By doing the same again next year, the account balance will be Rs 3,10,650. Because, Rs 1,50,000 will be deposited again and then interest will be received on the entire amount. This time the interest amount will be Rs 22,056. Because, the formula of compound interest works here. Now suppose 15 years of PPF maturity have been completed, then there will be Rs 40,68,209 in your account. In this, the total deposit amount will be Rs 22,50,000 and Rs 18,18,209 will be earned only from interest.

If you want to become a Crorepati then invest even after maturity

PPF was started at the age of 25. On maturity of 15 years, at the age of 40, there is an amount of more than 40 lakh rupees in hand. But if the planning is for the long term, then the money will grow faster. After maturity in PPF, the account can be extended by 5-5 year extensions. If the investor extends the PPF account for 5 years, then the total amount will become Rs 66,58,288 by the age of 45. In this, the investment will be Rs 30,00,000 and the income from interest will be Rs 36,58,288.

At what age will you become a Crorepati?

The goal of becoming a millionaire will now be achieved. The PPF account has to be extended once again for another 5 years, i.e. till 25 years. Again, an annual investment of Rs. 1,50,000 will have to be made. At the age of 50, a total of Rs. 1,03,08,014 will be deposited in the PPF account. The investment in this will reach Rs. 37,50,000 and the interest will reach Rs. 65,58,015.

Interest earnings will exceed Rs 1 crore ( How does PPF generate high returns? )

Another feature of PPF is that you can do a 5-year extension any number of times. Now if the account is extended for another 5 years, then at the age of 55 you will have Rs 1 crore 54 lakh 50 thousand 910. The investment in this will be only Rs 45,00,000, but the interest income will exceed Rs 1 crore and the total income will be Rs 1,09,50,911.

Investment for 35 years will give 2 crore 26 lakh 97 thousand 857 rupees

If you have invested in it for retirement, then PPF will have to be extended for the last 5 years. This means that the investment will continue for a total of 35 years. In this case, maturity will be at the age of 60. In this case, the total deposit amount in the PPF account will be Rs 2 crore 26 lakh 97 thousand 857. The total investment in this will be Rs 52,50,000, while the interest income will be Rs 1 crore 74 lakh 47 thousand 857.

If you want to double your money then invest like this

When you retire at the age of 60, there will be no tax on the large amount of more than 2 crores deposited in PPF. Usually, if such a large amount is earned from somewhere else, then a hefty tax will have to be paid on it. If both husband and wife run the PPF account together for 35 years, then the total balance of both will be 4 crore 53 lakh 95 thousand 714 rupees.

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The property tax department of the Municipal Corporation of Delhi (MCD) has taken several steps to make the recovery of property tax more transparent and efficient. For this, the help of digital means is also being taken. With their help, people paying property tax will get a lot of help. This will reduce human intervention to a minimum. The department says that in just two minutes, property owners can now generate their Unique Property Identification Code (UPIC) completely online. Along with the process being simple, the property will also be identified immediately.

The corporation has started online facility for UPIC merger and transfer. The department says that from April 1, 2024 till now, the corporation has merged 671 UPICs. Along with this, 21,780 people had applied online for UPIC transfer, which were approved.

Property information and chatbot support

Property owners can now easily access details related to their property including UPIC through the corporation’s digital platform. Apart from this, the property owner will be able to get instant assistance through the chatbot facility which will help them understand and navigate the online property tax services.

Youtube channel for civic education

To promote awareness, the MCD has created a YouTube channel with short informative videos that explain key property tax topics such as online PTR filing, UPIC generation and UPIC merger and transfer process.

Electronic notices and digital responses

The MCD has put in place a system that allows all notices under sections 175, 123A/B, 123D, 154, 156(1), 446, 152A and assessment orders to be issued electronically as per the DMC Act (Amendment) 2003. Taxpayers can now receive these notices digitally and submit their responses online without having to rush to the property tax office.

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This scheme has a lock-in period of 15 years. However, if needed, investors can extend this period for another 5 years. Today we will tell you about this government savings scheme…

The most important thing about PPF is that it is a tax-saving scheme. The amount deposited in PPF is exempted under Section 80C of the Income Tax Act. A maximum of Rs 1.5 lakh can be deposited in PPF annually. Apart from this, the interest received on the money and the amount received on maturity are not taxed, that is, PPF is a completely tax-free investment option.

How is interest calculated in PPF?

Interest on your PPF account is compounded annually and is credited at the end of the financial year. This calculation is based on the lowest balance available between the 5th and the last day of the month. Therefore, it is important that the PPF amount is credited to your PPF account before the fifth of every month to get maximum interest.

How will the investment double?

Let us explain to you with an example how investment in PPF can be doubled. Suppose that every month Rs 10,000 is deposited in your PPF account, that is, Rs 1.2 lakh is deposited in PPF in a year. The current interest rate in PPF is 7.1 percent and you deposit this amount continuously for 15 years. After 15 years, your total investment will be Rs 18 lakh. And at the current rate of 7.1 percent, you will get interest of Rs 13.56 lakh. That is, on maturity you will get more than Rs 31 lakh. This means that your amount will almost double and that too tax free.

Returns will double in PPF

The power of compounding works best when you start early
. The longer the money stays in a PPF account, the higher the interest rate. If possible, start investing in PPF early in your career to get the most benefit of compounding.

Invest more money:

The more money you invest in the long term, the more funds will be collected on maturity.

You can extend the limit after 15 years

After the initial lock-in period of 15 years, you can extend your PPF account in blocks of 5 years. Extending the account not only adds additional money to your deposit, but interest on the existing balance will also continue to accrue.

Deposit money regularly

Make regular deposits in your PPF account and avoid fund withdrawals if possible. Money in PPF doubles with patience. With consistent and long-term investments, you can take full advantage of this tax-free investment option.

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Your PPF account matures in 15 years. If you want to open an account in PPF for investment, then this news can prove to be very important for you.

Because the Government of India has changed the rules related to PPF which will come into effect from October 1. The government had issued a circular regarding these changes last month. Which rules of PPF have been changed and how will it affect PPF account holders. Let us tell you all the information related to this.

Minor will get interest after 18 years

The government has changed the rules of PPF and decided that now the money deposited in a PPF account opened in the name of a minor will get interest equal to that of a post office savings account. Till the minor turns 18 years of age, the interest rate of PPF will not be applicable on the account. Along with this, the maturity date of the PF account will start from the date the minor attains majority.

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Zero interest on NRI accounts without residency details

Under the changed rules of PPF, new guidelines have been issued for NRI’s PPF account. Currently, NRIs do not have to provide their residency details for a PF account. Despite this, they are given the same interest as the post office savings account.

But now this will change, after October 1, 2024, the interest rate in such accounts will become zero. That is why if any NRI has a PPF account, then first he should know about this rule and complete all the necessary actions.

Interest will be available in only one PPF account

If a person has more than one PPF account, then he will be given PPF interest only in the primary account. That too, interest will be given only on the money deposited within a fixed limit. Money more than that will be returned with zero interest.

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Review every three months: The government reviews the interest rates of small savings schemes every three months. Last time on September 30, interest rates were increased only on two schemes, while there was no change in other categories of schemes. In such a situation, it is expected that this time a decision on increase in remaining schemes can be taken.

There was no change in their interest rates: At present the government is running a total of 12 types of small savings schemes including Post Office Savings, PPF, Sukanya, Senior Citizen, National Certificate. Last time, the interest rates of most of these savings schemes were kept stable. Only the interest rate for the five-year recurring deposit scheme was increased from 6.5 to 6.7 per cent.

No change in PPF since last three years

Before April 1, 2020, the interest rate on PPF in the country was 7.9%. During the Corona period, the government had revised and reduced the interest rates of many savings schemes in the April-September 2020 quarter. Since then the interest rate of PPF has remained at 7.1 percent. Meanwhile, there were many amendments in interest rates but there was no change in PPF.

It is expected that this time the government may increase the interest rate of PPF after about four years. According to officials, the main reason for not much increase in PPF interest rate is that the return after tax in this scheme is high. In the case of the highest tax bracket, it reaches approximately 10.32 per cent. In view of this, the interest rate is not changed.

Finance Ministry decides

The Finance Ministry announces rates on small post office savings every quarter. Except for small savings schemes, banks decide the rates on FD in their own way based on the repo rate of the Reserve Bank. The purpose of small savings schemes is to encourage common people to save. Also, a source of regular earning is to be provided through Monthly Income Scheme and Senior Citizen Deposit Scheme.

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There was confusion regarding interest reduction

The rules regarding penalty for closing PPF account before 15 years were clear, but there was confusion regarding extension of the account period. As per the old rules (PPF 2019), if one closes the account during the extended period then the penalty will have to be paid from the time the account period extended.

That is, if an investor has extended the PPF account more than once for 5 years after 15 years, then the penalty will be charged from the time the PPF account was extended for the first time.

Relief given like this: In the new rules, it has been made clear that if the investor has extended the account period three times for five years each, then one percent penalty will not be imposed from the time the account is extended for the first time. Rather, the calculation will be done only for those five years in which the application for premature closure of the account has been given.

What are the existing provisions: The maturity period of PPF account itself is 15 years. This can be extended for another five years. The account cannot be closed for the next five years after the financial year in which the account is opened. Only after this, under special circumstances, the account can be closed before the maturity period but for this a penalty is imposed in the form of reduction in interest.

How much deduction: According to the rules, if the account is closed before the maturity period, there is a deduction of one percent in the interest, which is applicable from the date of opening of the account. If a person was getting 7.1 percent interest on the current contribution, but if he closes the account prematurely, he will get only 6.1 percent interest.

Exemption to close account in these circumstances

For treatment of serious illness of the account holder or family members
When you need money for your or your child’s higher education in the country or abroad
If the account holder is leaving the country then he can close the account.
On the death of the account holder, his Nomina account can be closed
It is necessary to submit these documents

To close the PPF account before the maturity period, a written application has to be submitted to the concerned bank or post office. Form-5 will also have to be filled. In this, a clear reason for closing the account must be given. Also, necessary documents will have to be attached with the application.

If you close the account for the treatment of illness, then you will have to submit the documents given by the medical authority. Copy of PPF passbook will have to be attached. The application is accepted after verification of documents.

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If you have invested in any small savings scheme of bank or post office, then this news is for you. According to the guidelines of the Finance Ministry, investors of Senior Citizen Savings Scheme (SCSS), Public Provident Fund (PPF), National Savings Certificate (NSC) or any other small savings schemes should submit their Aadhaar number to the post office or bank branch before September 30. Have to deposit.

If Aadhaar number is not provided by this date then your small savings account can be frozen. Let us tell you that the Finance Ministry has made Aadhaar and PAN mandatory for PPF, NSC and other small savings schemes. This notification is applicable from March 31, 2023 only.

Today is the last date for PAN-Aadhaar submission

According to this notification issued by the Ministry of Finance, “If a depositor has already opened an account in these savings scheme but has not submitted his Aadhaar number to the concerned office, he shall do so within a period of 6 months from April 1, 2023.” should have to.” Explain that the period of 6 months will end on September 30, 2023.

May have to face such consequences

1. Whatever interest is being earned on your investment will not be credited to your bank account.
2. You will not be able to invest in your PPF or Sukanya Samriddhi accounts.
3. The maturity amount will not be credited to your bank account.
4. If the investor fails to submit the Aadhaar number within 6 months, his account will remain inactive until he provides the Aadhaar number to the concerned office.

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Investing in PPF i.e. Public Provident Fund is a good investment option, but if you invest money wisely in it, then only you will get maximum benefit. For your information, let us tell you that if you are putting money in PPF every month, then deposit it at the beginning of the month by the 5th, so that you will get the interest for that month as per the PPF rules.

Why depositing money till 5th is beneficial

The simple answer is that interest is currently being paid on PPF at the rate of 7.1 per cent and it is decided on the minimum balance between the last date of the previous month and the fifth date of the new month. Interest is paid on the amount deposited in PPF accounts every month but the interest in the account is credited at the end of the financial year which is March 31 of every year. This interest is payable for that account only if the new amount is deposited in the account before the 5th of the month.

So investors can get the benefit of interest on interest only when the amount is deposited in the account by 5th date. If someone deposits money in the PPF account after the fifth of the month, then he will not be able to get the interest of the previous month and the interest of that month.

Understand it with example

Suppose there is Rs 1 lakh in a PPF account on 5 April 2022 and the investor of this account makes an additional investment of Rs 1.5 lakh on 6 April 2022. So according to the rules of PPF, investors will get interest only on the minimum balance from April 5, 2022 to April 30, 2022, which was Rs 1 lakh. This means that the investor will lose the interest of the investment of Rs 1.5 lakh for April 2022. This means that if the investor had deposited Rs 1.5 lakh in the PPF account by April 5, he would have got April interest on the entire investment of Rs 2.5 lakh.

Therefore, investors should invest with complete planning while putting money in PPF so that they can get maximum returns. They should take it as a rule to invest in PPF by the 5th day.

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Many schemes are being run by the government for the benefit of the people. People get the benefit of these schemes on different occasions. At the same time, many schemes are being run by the government for investment. Through these schemes, people get a chance to make safe investments and also earn interest. And today we are going to tell you about one such scheme.

PPF scheme

Actually, the Public Provident Fund (PPF) scheme is being run by the government. This scheme comes under the Central Government. On the other hand, if someone is looking for a safe investment for the long term, then investment can be made in this scheme. Along with this, people also get tax benefit on PPF scheme.

Investment Amount

Under the PPF scheme, people can invest up to Rs 1.5 lakh every year. Along with this, this scheme runs for 15 years. This scheme matures only after 15 years and people get maturity amount along with interest on the amount invested. At the same time, under this scheme, people have to invest a minimum of Rs 500 every year.

Interest

People get interest in PPF scheme. On the other hand, one special thing about the PPF scheme is that the interest rate given on this scheme is reviewed every 3 months. On the other hand, if the central government feels it, then the interest rate can also be changed. At present, 7.1 percent interest is being given to the people by the government on this scheme.

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What is Public Provident Fund

An investor can deposit a maximum of Rs 1.5 lakh annually in the Public Provident Fund (PPF) scheme with an investment limit of 15 years. In return, the government gives interest at the rate of 7.1 percent to the investor. In this way, Rs 1.5 is deposited every year for 15 years, on which the annual interest rate is Rs 10,650. However, the current interest rate of 7.1 percent is expected to increase from July 2023.

Circular of the Ministry of Finance

In the circular issued on March 31, 2023, the Ministry of Finance has given a strict warning to the PPF account holders that the account holders should link their PPF account with their Aadhaar under any circumstances.

According to the ministry, if the PPF investor has opened the account before March 31, 2023 and has not submitted his Aadhaar number to the accounts office, then he should submit the Aadhaar number within six months from April 1, 2023. That is, PPF investors must link their account with Aadhaar by 30 September 2023. Account holders can also submit PAN along with Aadhaar.

What if PPF account is not linked with Aadhaar?

The Finance Ministry has made it clear in its circular that if the Aadhaar number is not submitted within the stipulated time in the post office where the PPF account is opened and the PPF account is not linked, then the account will be frozen, due to which the investor Many types of problems may have to be faced like-

1. The prescribed interest amount will not be credited to the investor’s PPF account.
2. The account holder will not be able to deposit money in his PPF account.
3. The maturity amount of PPF will not be transferred to the bank account specified by the investor.

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If you are looking for a scheme for investment, in which there is no risk and the profit is also better, then Public Provident Fund (PPF) can be a better option. Any Indian citizen can invest in this scheme. A maximum of Rs 1.5 lakh can be deposited annually in PPF and a minimum of Rs 500.

This scheme is for 15 years and gets the benefit of compounding. At present, interest is being received on PPF at the rate of 7.1 per cent. If you also want to invest in this scheme, then know here how much return you will get on monthly investment of Rs 2000, 3000, 4000 and 5000?

Profit on investment of Rs 2000

According to PPF Calculator, if you invest Rs 2000 per month in PPF, then you will have an investment of Rs 24,000 in a year. In this way, in 15 years you will invest a total of Rs 3,60,000. But according to the compounding interest of 7.1 percent, Rs 2,90,913 will be received. In this way, a total of Rs 6,50,913 will be received at the time of maturity.

On investment of Rs.3000

If you deposit 3000 rupees monthly in PPF, then you will invest a total of 36000 rupees in a year. Rs 5,40,000 will be deposited in 15 years and Rs 4,36,370 will be received as interest. In this way, when your scheme matures after 15 years, then you will get Rs 9,76,370.

4000 on investment of Rs.

On the other hand, if you invest Rs 4000 in PPF every month, then your annual investment will be Rs 48,000. In this way, in 15 years you will invest a total of Rs 7,20,000. If you calculate the interest according to 7.1 percent, then you will get Rs 5,81,827 as interest on the investment made. At the same time, the maturity amount will be Rs 13,01,827.

On investment of Rs 5000

If you deposit 5000 rupees every month in PPF, then a total of 60,000 rupees will be deposited in a year and in 15 years your investment of 9 lakhs will be done in this scheme. Talking about interest on this, according to the current interest rate, Rs 7,27,284 will be received as interest. In this way you will get Rs 16,27,284 on maturity through this scheme.

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You have to invest in PPF for a minimum of 15 years. This is a scheme made by the government on the lines of Provident Fund. Any job seeker, businessman, working women, housewife, children can also invest in this scheme. This plan helps in building a huge corpus after retirement.

Investment in PPF has to be done for 15 years

Investment in PPF is for 15 years, but that does not mean that you have to withdraw your money and close the PPF account. Doesn’t happen like this. You can extend this account of yours. You can extend this account for an additional period of 5-5 years. The period of the account is 15 years and after that you can extend it further for 5 years. You can invest in PPF for 15 years, 20 years, 25 years, 30 years etc.

These are the rules

However, if you keep your PPF account open for more than a year after maturity without making any deposits, you will not be allowed to make any additional deposits in subsequent years. You can withdraw money from your PPF account only once in a year. If you choose to increase it without depositing any money. For example you have Rs 20 lakh in your PPF account and it is active for 15 years. Then, you stop contributing and after two years it increases to Rs. 24.56 lakhs. If it gets interest at the rate of 7.10 percent.

This much interest is being received on PPF

The annual interest rate for PPF accounts is currently 7.1 per cent. You can invest a maximum of Rs 1.50 lakh annually in PPF.

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The government has not made any change in the interest rates of this small savings scheme for a long time. By the end of June 2023, the government can change the interest rates of this scheme. It is worth noting that the government reviews the interest rates of this savings scheme every three months. In such a situation, a change is possible by the end of this month.

No changes made since April 2020

It is noteworthy that the last change in the interest rates of the Public Provident Fund Scheme was made by the Central Government in the year 2020. On 1 April 2022, the government had reduced the interest rates from 7.9 percent to 7.1 percent. Since then no change has been made in this scheme.

It is worth noting that in March 2023, the Central Government had increased the rate of interest of many small savings schemes, but the rates of PPF have remained the same at 7.1 percent. But this time the PPF account holders are hopeful that by the end of June 2023, the government may consider increasing the interest rates.

Why there is no change in the interest rates of PPF for a long time-

According to the report published in the Financial Express, behind not increasing the interest rates of PPF, government employees have said that the reason behind not increasing the rates of this scheme is that after the tax return, the total amount invested under this scheme is 10.32%. Percent interest rate and benefits are available. In such a situation, this scheme is already getting more returns than other schemes. For this reason, the government has not increased its rates for a long time.

You get the benefit of tax exemption on investing in PPF

Public Provident Fund Scheme is an excellent tax saving scheme in which you get a deduction of Rs 1.5 lakh under Section 80C of Income Tax. Along with this, no tax will have to be paid on the interest received on the amount deposited under this scheme.

You will not have to pay any tax on the maturity amount of PPF. It is worth noting that under this scheme, up to 9.5 percent interest rate is available at a time. The lock in period of this scheme is 15 years. If you do not want to invest in EPF and NPS schemes, then you can get strong returns on your retirement by investing in PPF.

The government increased the interest rate on these government schemes

In the last quarter of the financial year 2022-23, the Senior Citizens Savings Scheme, Sukanya Samriddhi Yojana, Kisan Vikas Patra, Post Office FD Scheme (Post Office Fixed Deposits) ), Monthly Income Scheme and Post Office RD Scheme (Post Office Recurring Deposit) interest rates were increased.

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Also, you can get good interest on that investment. Lakhs of people in the country are also currently investing in the PPF scheme. However, while investing in PPF scheme, it is important to keep one important thing in mind. Let’s know about it…

PPF scheme investment

Actually, if you have to invest in PPF scheme, then you should know that interest is also provided on a fixed basis in PPF scheme. The PPF scheme is supported through the government. In such a situation, the interest rate of the PPF scheme is also reviewed by the government every three months and if needed, the interest rate of the PPF scheme can also be changed.

If you want to invest in the PPF scheme, then currently in April-June 2023, 7.1 percent interest is being provided to the people in the PPF scheme on an annual basis. On the other hand, the PPF scheme is a long term investment scheme and it runs for 15 years from its inception. In this case, the return of the scheme is available after 15 years.

The maturity of the PPF scheme is after 15 years. In such a situation, PPF scheme can prove to be a better option in terms of investing for a long time. At the same time, a maximum investment of Rs 1.5 lakh can be made in this scheme in a financial year. Along with this, the benefit of tax saving is also available on this scheme.

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This is a scheme that also helps a person to save tax money. In 1968, the National Savings Institute of the Ministry of Finance started this scheme with the aim of mobilizing small savings. It is precisely for this reason that the central government introduced PPF, an investment scheme where one can get reasonable returns along with income tax.

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This requirement is also for the investors of Public Provident Fund (PPF). In such a situation, PPF investors must link their account with Aadhaar (Link Aadhaar With PPF) before June 30. Otherwise, their account may be locked and transactions with the account may be stopped.

The Public Provident Fund (PPF) investment scheme is included in the most popular list of government savings schemes. Investors can deposit a maximum of Rs 1.5 lakh annually in a PPF scheme with an investment limit of 15 years. Interest at the rate of 7.1 per cent is applicable on this amount. In this way, Rs 1.5 is deposited every year for 15 years, which the investor gets in the form of a thick corpus on completion of the tenure.

It is mandatory to link PPF account with Aadhaar

The Ministry of Finance has made it mandatory for all small savings schemes and post office scheme investors to link Aadhaar (PPF Link With Aadhaar). According to the ministry, if the PPF investor has opened the account before March 31, 2023 and has not submitted his Aadhaar number to the accounts office, he should submit the Aadhaar within a period of six months with effect from April 1, 2023.

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The period of six months will end on 30 September 2023. However, PPF investors should do this before June 30, as the government has set a deadline of June 30 to link all bank accounts and PAN with Aadhaar. Therefore, before September 30, if there is a transaction from PPF account to bank account, then the investor should not face any problem.

Disadvantages if PPF account is not linked to Aadhaar (PPF Aadhaar Linking)

According to the instructions of the Ministry of Finance, if the Aadhaar number is not submitted to the post office where the PPF account is opened and the PPF account is not linked, then the account will be frozen. In such a situation, the investor may have to face many problems like-

1. The amount of interest payable will not be credited to the PPF account holder’s account.
2. Investor will not be able to deposit money in his PPF accounts.
3. The maturity amount will not be transferred to the bank account specified by the investor.

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In this scheme, you get partial withdrawal, nomination benefits and many other facilities. But if an account holder dies before the maturity of the account, then what will happen to his account? Let us know what are the rules of EPFO ​​(Employee’s Provident Fund Organization) in such a situation.

What will happen in case of death of PF account holder? 

Whenever a PF account holder dies, his PF account remains operational until his nominee or legal heir withdraws the entire money from his account. This account cannot be continued. This will continue only as long as there is money in it. If more amount is deposited after the death of the subscriber, interest will not be earned on it. After the death of the account holder, the nominee does not need to wait for the completion of 15 years of the account, he can withdraw the money by filling the death claim form and necessary documents along with it.

How can the nominee withdraw money?

The nominee of the PF account holder can withdraw the entire money from the account by submitting the necessary documents. He has to give Form G and death certificate of the subscriber for this. In some cases, it also happens that the PF subscriber has not made any nominee. In such a situation, his legal heir can file a death claim.

But along with the death certificate, he will also have to provide a succession certificate or an attested copy of the Probate of Will from the court. Yes, there is also a rule that the legal heir can claim up to 1 lakh without a succession certificate. Also, even if the account holder has made someone else a nominee, the valid legal heir can claim the money in the PF account by putting in the succession certificate.

The nominee or the legal heir filing the death claim should know one thing that if there is any credit or loan outstanding on the account of the subscriber, then the claim will be deducted from the process and then the claimant will get the rest of the money.

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People get a chance to invest for a long time through the PPF scheme. Along with this, if people want, they can deposit some amount every month. However, if you also invest money in PPF scheme, one important thing should be kept in mind, otherwise you may have to bear the loss.

maturity and interest

Actually, PPF scheme is a long term savings and investment scheme. If money is invested in this scheme, then its maturity is after 15 years. Only after 15 years, money is available in this scheme along with interest. However, one important thing must be kept in mind in these 15 years. At the same time, in this scheme, people are being given annual interest at the rate of 7.1 percent.

Whenever investment is made in PPF account PPF scheme, it is very important to invest at least Rs 500 in this scheme in a financial year. At the same time, a maximum of Rs 1.5 lakh can be deposited in this scheme in a financial year. In such a situation, if a person is not able to deposit even the minimum amount of Rs 500 in this scheme in a financial year, then the PPF account will become dormant.

Minimum Investment

After this, there will be a need to get that inactive account re-acquitted, in which some rupees will also have to be paid as a fine. Apart from this, in the year when you did not even make a minimum investment of Rs 500, people have to face problems regarding the interest received in that year. In such a situation, people should keep in mind that minimum investment should be made in PPF account every financial year so that the PPF account does not become inactive.

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To keep PPF and SSY active/regular, it is necessary to deposit a minimum amount in a financial year. This minimum deposit for PPF account is Rs 500 in a financial year and Rs 250 for Sukanya Samriddhi Scheme.

What will happen if the minimum account is not deposited

According to the rules, if the minimum amount is not deposited in PPF and SSY accounts within a financial year, then both these accounts become inactive. Therefore, if you have opened an account in either of these two schemes, make the minimum deposit for the current financial year before the end of March. Otherwise the account will become inactive. Although inactive accounts can be made active again, but for this penalty has to be paid.

There is a rule in the post office that if the inactive SSY account is not revived by paying the penalty, then it will become a normal savings account of the post office and interest will be paid accordingly on the total amount present in it.

How to activate PPF account

To re-activate the inactive PPF account, the account holder will first have to submit an application to the bank or post office where the PPF account is maintained. Apart from this, the investor will have to pay a penalty of Rs.50 per annum and Rs.500 per annum as the minimum balance amount, counting from the time/year in which deposits have not been made in the account.

Along with this, the minimum installment of Rs 500 has to be deposited for the year in which the PPF account is being revived. Only after this the account becomes active again. Do note that inactive/discontinued PPF can be revived before the maturity of the account. The maturity period of PPF is 15 years.

How will SSY account be revived?

Deposits in Sukanya Samriddhi account can be made for a maximum period of 15 years from the date of its opening. This account can be opened in the name of a girl child below 10 years of age. The process of reviving SSY is also like that of PPF account. To bring the SSY account back into active mode, a penalty of Rs.50 per annum and a minimum balance of Rs.250 per year will have to be deposited, counting from the period/year from which the deposit has not been made in the account.

At the same time, in the year in which SSY is being revived, the minimum installment of Rs 250 will also have to be deposited for that year. Only after this the account becomes active again. Remember that the inactive SSY account can be revived before the completion of its 15 years.

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One scheme is Public Provident Fund (PPF). This is a good option for making substantial corpus in the long term. Investors are benefited in many ways in this. First it comes in EEE (Exempt, Exempt, Exempt) category. Second, it offers guaranteed interest, which the government decides every quarter.

The third advantage is that the investment in it remains safe. There is no effect of market fluctuations. Up to Rs 1.5 lakh can be invested in PPF every year. Being a long term savings product, investors get tremendous benefit of compounding.

PPF: Account can be opened with ₹ 500

In the Public Provident Fund (PPF) scheme, an account can be opened with a minimum of Rs 500. This account can be opened in the nearest post office branch or designated bank branch. Minimum 500 and maximum 1.5 lakh rupees can be deposited in this account in a financial year. From January 1, 2023, this scheme is getting 7.1 percent interest annually. Compounding in this scheme is done on an annual basis. The maturity of PPF account is 15 years. But account holders can apply to increase it in a block of 5-5 years. In this, he also gets the option of continuing the contribution or not.

42 lakh fund with 5,000 monthly investment

In PPF, investors get the power of compounding. Suppose you deposit Rs 5,000 every month in your PPF account. In this way your annual investment becomes Rs.60,000. When your PPF account matures in 15 years, when you will get Rs 16,27,284. If you extend the deposit for the next 10 years in a term of 5-5 years, then after 25 years your fund will be around 42 lakhs (Rs 41,57,566). In this, your contribution will be Rs 15,12,500 and interest income will be Rs 26,45,066.

Keep in mind here that this calculation is based on the entire maturity period at 7.1% interest per annum. In PPF account, the government changes the interest rates on a quarterly basis. If the interest rates are low or high, then your corpus can also increase or decrease.

Money completely safe, tremendous benefit of tax

The government sponsors small savings schemes. Therefore, in this, the customer gets complete protection on the investment. There is a sovereign guarantee on the interest earned in it, which makes it safer than bank interest. Bank deposits are insured up to Rs 5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

Tax benefit is available in PPF under section 80C of the Income Tax Act. In this, deduction of investment up to Rs 1.5 lakh can be taken in the scheme. Interest earned in PPF and maturity amount are also tax free. In this way investment in PPF comes under EEE category. Loan facility is also available on PPF account. You can apply for a loan after completion of one year from the end of the year in which the PPF account is opened and before completion of 5 years.

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It is also true that our long term goals can be fulfilled only through less income tax and tax savings. Everyone has given their recommendations regarding the budget. The biggest demand from the job profession is to make income up to Rs 5 lakh tax free. Apart from this, there is also a demand to increase the investment limit under Section 80C of Income Tax.

In the recommendation sent by the Institute of Chartered Accountants of India (ICAI), it has been recommended to increase the annual deposit limit of PPF from Rs 1.5 lakh to Rs 3 lakh. Along with the employed, this is also a favorite savings scheme for businessmen. If this step is taken by the government, then it will prove to be the most beneficial announcement for non-salaried people, because such people do not even have the option of investing in EPF.

It is necessary to increase the deposit limit of PPF

In the suggestion sent by ICAI, it was said that it is necessary to increase the deposit limit of PPF. Because it is a safe and tax effective savings scheme. ICAI has also been asked to allow separate deductions on premiums for house insurance, travel insurance, personal accident insurance etc. to encourage tax payers to invest.

50% HRA benefit available in other metro cities as well

When it comes to House Rent Allowance (HRA), tax payers get the benefit of income tax deduction. This benefit is also available on the basis of metro and non-metro cities. Now experts have also suggested that apart from Delhi, Mumbai, Kolkata and Chennai, the benefit of dearness allowance of 50 percent of the basic salary should also be available in other metro cities.

What is PPF?

Public Provident Fund (PPF) is one of the most popular, long-term investment options in India. This is a savings scheme for investors to save for a long time after retirement. According to experts, opening a PPF account in the name of one’s life partner will also double the investor’s PPF investment limit, although the income tax exemption limit will still be Rs 1.5 lakh.

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Public Provident Fund (PPF) is a safe investment scheme. Due to the excellent returns and tax savings, the number of people investing in PPF is increasing. The government is paying interest at the rate of 7.1 percent on the amount deposited in the PPF account. PPF account can be opened in post office or any bank branch.

A minimum of Rs 500 and a maximum of Rs 1,50,000 can be deposited in PPF account per year. This is the scheme of EEE category. This means that the amount deposited every year, the interest earned on this amount every year and the entire amount received at the time of maturity are tax free.

The lock-in period of PPF is 15 years. If money is needed, some amount can be withdrawn from the PPF account even before 15 years. If you want to withdraw money from the account before 15 years or want to close it, then for partial withdrawal you have to follow certain conditions. After 15 years, the entire amount deposited in the account can be withdrawn.

What is the rule of partial withdrawal

According to a media report, PPF account holders can withdraw 50% of the amount from the PPF account in the 7th year. Please tell that the PPF account is completely locked in for the first 6 years. If a person has to start investing in the financial year 2020-2021, then he can withdraw money only after 2025-2026 in case of emergency. You do not have to pay any tax even if you withdraw money before time. If the account holder dies before the maturity of the PPF account, then this condition of 7 years is not applicable to the nominee of the account holder. Nominee can withdraw money anytime.

You can also close the account earlier

In some circumstances, your PPF account can be closed before the end of the 15-year period. According to the PPF Withdrawal Rules 2021, the PPF account can be closed prematurely if the account holder or dependents have a life-threatening illness or need money for higher education. If it is closed before the maturity period, 1% interest is deducted from the date of opening till the date of closure.

How to withdraw money Form C has to be submitted for premature withdrawal of money from PPF account. This form is available in post office and bank. In the form, you have to fill the account number and the amount you want to withdraw. You have to submit the form along with the passbook. The amount will be deposited directly into your savings account, or you can take the same through demand draft.

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Also, people have less knowledge about the tenure of this savings scheme. In such a situation, today we are going to tell many things regarding the tenure of PPF.

PPF Maturity Rule

PPF is such a scheme being run by the government, in which people can save, invest and also save tax. PPF is a long term investment with a tenure of 15 years but that does not mean that your money gets locked in for that long. The period of 15 years is from the day of opening of the account. Tenure of 15 years means that the maturity of the PPF account will be for 15 years from the day the PPF account is opened.

PPF Balance Check

However, if some fund is to be withdrawn from PPF before maturity, then that can also be done. Partial withdrawal is allowed from the PPF account after the sixth year. That’s why some investors use PPF as an emergency fund. PPF allows investors partial withdrawal in case of emergency. From the PPF account after the sixth year, an investor can withdraw up to 50% of the balance at the end of the fourth year or 50% of the account balance at the end of the financial year preceding the year of withdrawal.

PPF Amount On the other hand, if the account is extended with additional contribution, then the withdrawal limit can be 60% of the account balance at the beginning of the extended period. However, if the fund is to be withdrawn before maturity, it can be withdrawn only on emergency. PPF operates under a mandatory lock-in period of 15 years.

In such a situation, some funds can be withdrawn from the PPF account after the completion of the 5th financial year from the year in which the PPF account was opened. For example, if the PPF account was opened in February 2015, then withdrawal from PPF can be done from the financial year 2020-21. At the same time, partial withdrawal is allowed only once in every financial year.

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As soon as the Modi government came to power in the year 2014, the investment limit in PPF was increased, due to which more tax exemption was available. At the same time, a big cut has been made in its interest rates in a decade.

Since the year 2013, the interest rates on PPF are continuously decreasing. In the year 2014, the government increased the investment limit in PPF from Rs 1 lakh to Rs 1.5 lakh annually. However, since then the interest rate has come down from 8.8 per cent to 7.1 per cent. That is, within just a decade, the interest rates on this scheme have come down by 1.7 percent. If you look at the official figures, the interest on PPF was 8.8 per cent in the year 2013, which has now come down to 7.1 per cent.

Interest decreasing year by year

Talking about interest on PPF, from April 1, 2013 to March 31, 2014, the total interest was 8.7 per cent and the investment limit was Rs 1 lakh. After this, from April 1, 2014 to March 31, 2016, the investment limit was increased to Rs 1.5 lakh, while the interest rate remained the same at 8.7 percent. Between April 2016 and September 2016, the PPF interest rate was revised and it came down to 8.1 per cent.

Interest kept decreasing further

After this, between October 2016 and March 2017, the interest rate of PPF decreased again and it came down to 8 percent. This process did not stop and till June 2017 its rate fell to 7.9 percent. By September, the PPF interest rate had come down to 7.8 per cent. Then between January and September 2018, it declined further by 0.20 per cent. The interest came down to 7.6 per cent.

Big reduction in the Corona

period Its interest rate increased between October 2018 and June 2019 and reached 8 percent, but it declined again from July 2019 to March 2020 and the effective interest rate came down to 7.9 percent. Then came the time of the Corona period and the government reduced its interest rate to 7.1 percent in April 2020, which is still maintained. In this, the maximum limit of the investor remains 1.5 lakh only.

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According to Section 80C of Income Tax, a PPF account holder can get this tax exemption. However, a maximum exemption of Rs 1.50 lakh will be available annually on a financial year. PPF is among some of the lowest risk schemes offering better returns to the investors.

Government pays 7.1 percent interest on PPF

The government is giving a return of 7.1 per cent on PPF. The interest rate of PPF is subject to change every quarter as per the instructions of the government. That is, after every three months, the government decides the interest received on the savings scheme scheme. If we look at its past trend, then the interest rates on PPF are going to remain at 7.1 per cent or above.

This is how you can become a millionaire

At the age of 25, if you start investing Rs 5000 every month in PPF, then your annual investment will be Rs 60,000. You will earn an interest of Rs 7,27,284 in 15 years at 7.1% interest rate. Your total investment in 15 years will be Rs 9,00,000. Maturity of 15 years means when you will be 40 years old then you will get Rs 16,27,284.

This is how PPF can make a millionaire

However, if you maintain this investment of Rs 5,000 per month for 37 years, you will get a return of Rs 83,27,232 on a total investment of Rs 22,20,000. You will get Rs 1,05,47,232 on maturity. As mentioned earlier, the maximum maturity period of PPF is 15 years. If you want to extend it up to 37 years, you need to fill Form 16-H, Renewal Form at the end of 15th, 20th, 25th, 30th year. Your PPF account will be renewed after this.

Many benefits are available on PPF

The government decides the rate of interest on PPF. Up to Rs 1.5 lakh can be invested in this scheme. Investors investing in PPF get tax benefits in three ways. Apart from the benefit of tax deduction on the money invested in PPF, there is no tax on the interest and maturity amount.

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PPF Calculator: If you invest for the future through PPF account, then you must know about this news. The government has also made changes in PPF after Sukanya Samriddhi Yojana (SSY). Let us tell you about 5 big changes in PPF.

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In fact, the Employees’ Provident Fund Organization can increase the coverage of its pension plan. This new scheme is proposed to be based on individual contribution, which ensures that every employee gets a minimum pension of Rs 3,000 per month after the age of 60 years.

This proposed scheme may be named as Universal Pension Scheme, which aims to address the various challenges of the existing Employees’ Pension Scheme (EPS), 1995. There is no coverage for employees earning more than Rs 15,000 per month, but a simple pension amount.

There will be provision for retirement pension, widow pension, children’s pension and disability pension in the new scheme. However, the minimum qualifying period of service for this pension benefit will be increased from 10 to 15 years. If a member dies before the age of 60, then pension will be given to the family under the Universal Pension Scheme.

To get 3 thousand pension every month, this amount will have to be deposited for a
minimum pension of Rs 3,000 every month, a total of Rs 5.4 lakh will need to be deposited. A committee set up by the Central Board of Trustees (CBT), the highest decision-making body of EPFO, said EPFO ​​members can also voluntarily opt for higher contribution and deposit a larger amount for higher pension. At present, EPF contribution is mandatory for workers earning up to Rs 15,000 per month in establishments having more than 20 workers. Every employee gives 12% of his basic salary in the EPF scheme.

EPS is mandatory for all those who contribute to EPF. 8.33% of the employer’s contribution is deposited in the pension scheme, subject to a ceiling of Rs 1,250 per month based on the salary ceiling of Rs 15,000 per month.

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The proposed increase of the salary limit to Rs 21,000 per month has been endorsed by a committee, the report said. The committee has said that the government may implement the increase from a later date after deliberation. In such a situation, if the increase is accepted by the Central Board of Trustees of EPFO, then lakhs of employees will get a big relief.

According to media report, once the proposal is implemented, an estimated 7.5 million additional workers will benefit from the scheme. At present, the central government pays about Rs 6,750 crore annually under the Employees’ Pension Scheme.

The report also said that any company with more than 20 employees must be registered with the EPFO ​​and the EPF scheme has been made mandatory for all employees earning less than Rs 15,000. Along with this, it has also been told that workers more than the limit of Rs 21,000 will be brought under the purview of retirement scheme and the benefit of other social security scheme will also be given.

Explain that under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, EPFO ​​provides social security benefits to the employees in the form of pension and insurance funds. As per the data, in January 2022, EPFO ​​added 1.52 million employees on a net basis, which is an increase of over 21 per cent as compared to 1.26 million in December 2021.

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The interest rates on such savings schemes are reviewed by the government every quarter of the financial year. During the review in the last June quarter, no change was made by the government. This was worrying crores of investors.

You can start with a small amount Here you can start with less money and deposit up to 1.5 lakh rupees in a year. Here your money is completely safe. The government has kept the interest rate on PPF at 7.10 percent recently. Its rules have been changed in the last few years.

Money will be deposited only once every month

It is necessary to invest in PPF account in multiples of Rs 50. This amount should be at least Rs 500 or more annually. But in PPF account you can deposit up to 1.5 lakhs in the whole financial year. Only on this you get the benefit of tax exemption. Apart from this, you can deposit money in PPF account only once in a month.

Interest rate was cut

You can also take a loan against the balance in the PPF account. Recently, this interest rate has been reduced from 2 percent to 1 percent. After paying the principal amount of the loan, you will have to pay the interest in more than two installments. Interest is calculated on the 1st of every month.

Account will remain active even after 15 years

Even after investing for 15 years, if you are not interested in investing, then you can continue your PPF account without investment. It is not necessary to deposit money in this account after the completion of 15 years. You can withdraw money only once in a financial year by opting to extend the PPF account post maturity.

This form has to be filled to open an account

To open a PPF account, Form-1 has to be submitted instead of Form A. For extension of PPF account after 15 years (with deposit) one year before maturity, application has to be made in Form-4 instead of Form H.

How to get loan against PPF?

Loan is also available against PPF account. Its rule is that you can get a loan only 25 percent of the balance in your account before two years from the date of application. Understand in simple language, you applied for the loan on 31st March 2022. Two years before this (March 31, 2020), if there was 1 lakh rupees in the PPF account, then 25 percent i.e. 25 thousand loan can be got.

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PPF is one of the best savings instruments in India with low risk and better interest rate. People working in the informal sector or unorganized sector as well as unemployed, self-employed people can invest in PPF.

can invest so much

Similarly, taxpayers can claim tax deduction of up to Rs 1,50,000 annually by investing in PPF. At least Rs 500 has to be invested in this in a year. At the same time, investment of more than Rs 1,50,000 cannot be done in it. The returns offered by PPF accounts are fixed and backed by Sovereign Guarantee. Currently the interest rate is 7.1 percent.

recover like this

However, one of the most common problems that PPF account holders often face is expiring accounts. There are many situations where customers have come to know that their PPF account has expired. However, it can be easily restarted through an application form.

Under these circumstances the account may expire.

If a PPF account holder fails to contribute the minimum amount in the financial year, which is from 1st April to 31st March, the account is closed. Along with this the account holder loses the option of withdrawal facility. Also, in such circumstances, the account holder cannot take a loan against his PPF money.

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Employees’ Provident Fund Organization ie EPFO ​​account holders (EPFO Subscribers) can get a big gift soon. According to the report of ET Now Swadesh, the minimum pension (EPFO Pension) can be increased three times. It has been said in the report that a meeting of the Central Board of Trustees of EPFO ​​is going to be held next month. The three-fold increase in the minimum pension is expected to be discussed in this meeting . The minimum pension can be increased from the present Rs 1,000 to Rs 3,000.

According to the report, a committee headed by the Labor Secretary will submit its report in this matter soon. This decision will benefit about 6.5 lakh pensioners and 5 crore subscribers of EPFO.

There may be an increase in the limit of investment in equity Apart from this, the discussion on increasing the CBT equity limit from 15 percent to 25 percent will also be discussed in the meeting. Let us tell you that the labor union is not in favor of increasing investment in equity. Behind this, he is citing the uncertainty in the stock market as the reason.

Let us tell you that a few days ago, the Finance Ministry had announced 8.1 percent interest rate for the financial year 2021-22, giving a shock to the Employees’ Provident Fund Organization subscribers. This is the lowest level in four decades. For the financial year 2020-21, the rate of interest on EPF was 8.5 percent. The impact of this decision of the government will be on 65 million subscribers i.e. 6.5 crore jobseekers. In order to keep it attractive amid the declining interest rate, the government is considering increasing the limit of investment in the stock market from the EPFO ​​fund.

Actually, debt funds are not getting the required returns, so efforts are being made to get the targeted return by increasing investment in equities. An important meeting of the Finance Investment and Audit Committee was held two weeks ago to consider this proposal. The proposal which will be presented by this committee will be presented before the EPFO ​​Central Body of Trustees.

A meeting of the Central Body of Trustees is proposed in the last week of June. After the discussion on the proposal in this meeting, it will be sent to the Labor and Finance Ministry for final approval.

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If you deposit money in this scheme, then investment is also happening and tax is also being saved. It can be availed by both Employed and Self Employed people. The government guarantees the security in this savings scheme and the returns are also guaranteed. At present, interest of 7.1 percent is available on PPF.

Equity mutual fund at number one-

Recently a Financial Freedom Survey came. Accordingly, equity mutual funds are the first choice for retirement. This is followed by the Employee Provident Fund and then the Public Provident Fund. PPF gives very good returns in the long term. If you are also planning for your retirement, then start depositing money in this scheme from today, then the retirement fund will be huge.

Maturity in 15 years-

The maturity of PPF is 15 years. Even after that, it can be extended in an interval of 5-5 years. Let’s say you are 35 years old. You have decided to invest in PPF for retirement. For the coming tomorrow, you deposit Rs 100 on a daily basis, which is a very simple amount. In such a situation, when you are 60 years old, you will get a total of 25 lakh rupees which will be completely tax free.

25 lakh will be available in 25 years-

If you want to extend this scheme for 25 years, then in the end you will get 25 lakh 8 thousand 284 rupees. During this, a total of Rs 912500 will be deposited from your side and a total of Rs 1595784 will be received as interest. The most important thing is that this amount will be completely tax free.

Tax benefits are available at every level-

Public Provident Fund comes under EEE category. By investing in it, you get the benefit of deduction under section 80C. The interest income on maturity and the maturity amount is completely tax free. Talking about other schemes, returns are definitely higher in mutual funds, but up to 20 percent long term capital gains tax is levied.

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Talking about the same Employees Provident Fund Organization, the interest received in the PPF account in the financial year 2022 has been calculated. Soon this has to be transferred to the account of the account holders. This time a total of Rs 72000 crore deposited by the government is expected to be sent to the servant’s account.

Significantly, last year people had to wait for 6 to 8 months for interest. The atmosphere had become a bit different due to his son, but this year the government will not delay in transferring him. According to the information, the interest money in the account will be transferred soon. Talking about the interest level of this year, it has reached a low of 24 years.

In this way interest can be calculated

If you have 1000000 rupees in your account then 81000 will be given as interest.
If you have ₹ 700000 in your PF account then you will get interest of ₹ 56700.
If ₹ 500000 is present in your PF account, then interest up to ₹ 40500 will be given.
If you have ₹ 100000 in your PF account then ₹ 8100 will be available.

In this way, it is very easy to check the balance PF money by giving a missed call. You will get the information after you give missed call on 01122901406 from your registered mobile number. After this, you will also be given the details of PF by the message of EPFO. After your UAN, PAN and Aadhar are linked that you will get the benefit of it.

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It has been decided to pay 8.1 percent interest to PF employees for the financial year 2020-21, which is the lowest in the last forty years. Earlier, 8.5 percent interest was given in the financial year 2019-20. The government has not yet officially announced the transfer of the installment amount, but in many media reports, till September 30, the claim is being made on a large scale.

PF account holders will get so many thousand rupees

EPFO, which deducts PF, will release a hefty amount for the account holders by 30 September. In such a situation, the question arises that how much money will come in the account of PF employees, for which you need to read the entire article carefully. If you have Rs 6 lakh lying in your account at 8.1 percent interest, then you will easily get Rs 48,000. Earlier in the financial year 2019-20 also 8.5 percent interest amount was released, which benefited about 6 crore employees.

just check your account balance

• First of all you have to go to epfindia.gov.in.
• Now you have to click on the option of Click Here to know your EPF Balance.
• Now you have to be redirected to the page of epfoservices.in/epfo/.
• Now you have to click on the option of Member Balance Information.
• Now enter your PF account number and registered mobile number here.
• Now select your state.
• After doing this, click on the link of the EPFO ​​website of your state.
  Now click on submit option.

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Some important information related to PPF account

The first condition for opening a PPF account is to be an Indian citizen. Also, it is a clear rule that no person can open multiple PPF accounts in the same name. In such a situation, if you want to open two PPF accounts in your name, then you will have to change your thoughts a bit.

Many times people ask that accounts can be opened in more than one bank with the same name, then why can’t PPF accounts be opened in the same name? So the answer to their questions is that there is a fundamental difference between a PPF account and a bank account. PPF account is opened for long-term investment purpose, whereas savings or current accounts are opened in the bank to keep your money safe.

There is no upper age limit for opening a PPF account. That’s why you can open your account in any age group. With this, single parent or parents can also open a PPF account in the name of their minor child. Also, those NRI citizens can continue their PPF account, which they have opened during their residence in the country as a normal citizen of India.

How much can be invested in PPF account?

bank market. According to Adil Shetty, CEO.com, “You can open your PPF account with Rs.100. However, it is necessary to deposit at least Rs 500 in the PPF account in a financial year. Whereas a maximum of Rs 1,50,000 can be deposited in the PPF account. You can also get benefits related to tax deduction from PPF account. But if you have deposited more than 1.5 lakh in your PPF account in a financial year, then you will not get any kind of interest on the amount deposited more than the maximum limit.

The same rule will be applicable to those PPF accounts which are opened by single parent or parents in the name of their minor child. The maximum investment limit for these accounts is also fixed at Rs 1.5 lakh. That is, parents should not invest more than 1.5 lakh in their child’s PPF account.

Documents required to open PPF account

While filling the required form for opening PPF account, you should have self attested photo copy of Aadhar card, Voter ID card, passport size photographs and PAN card. Whereas, for opening a PPF account in the name of a minor, passport size photographs of the child as well as his birth certificate and KYC information of the parents are required.

Rules for withdrawing money from PPF

The rules for withdrawing money from PPF account have been kept a bit strict by the government. So that the investor should be more careful while withdrawing money, although the investor has been given the right to withdraw money as per the requirements by the government. That is, the government has given the investor the right that the investor can withdraw money up to the limit fixed on the basis of different circumstances.

Important information for PPF account holders

There is no doubt in the fact that PPF gives returns with utmost safety, tax benefits and guarantee, but the account holder should always remember that investment in PPF account is made for the long term. However, the interest rate payable on the amount invested in PPF can be changed by the Central Government.

PPF is a safe investment option for long term and is suitable for those who want attractive tax benefits and returns like EPF which is available only to salaried individuals.

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Big decision can be taken after 5 days

In this episode, the interest rates on these schemes can be increased by the Finance Ministry in the month of September this year. It is being told that interest rates can increase from 0.50 to 0.75 percent.

It is to be known that even after the decision of increasing the repo rate twice earlier, RBI did not make any change in the interest rates in the month of June. Now after reviewing the interest rates in the third quarter of this financial year, the interest rates of savings schemes can be changed. It is expected that this decision can be taken on 30 September 2022.

FD interest rises after repo rate hike

After the increase in the repo rate by the Reserve Bank of India, banks have increased the interest on deposits. After which it is now being said that the interest on government savings schemes can also be increased. Currently, 7.1% annual interest rate is being given on PPF. At the same time, the interest rate available on NSC is 6.8 percent. On the other hand, if we talk about Sukanya Samriddhi Yojana, at present 7.6 percent interest rate is being given on it, which is likely to increase further.

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There is now less than a month left for the Union Budget 2022-23 to be presented and the finance ministers of the states, apart from the stakeholders, gave suggestions to Finance Minister Nirmala Sitharaman. The list is given.

Meanwhile, the Institute of Chartered Accountants of India (ICAI) has also sent its recommendations and recommended raising the maximum annual deposit limit of PPF to Rs 3 lakh. Let us tell you that this year the budget session is going to start from February 1 and Union Finance Minister Nirmala Sitharaman will present the annual budget in Parliament on this day.

ICAI Recommendation

According to reports, the Institute of Chartered Accountants (ICAI) has suggested to Finance Minister Nirmala Sitharaman to increase the maximum limit for investment in Public Provident Fund (PPF) from the current Rs 1.5 lakh to Rs 3 lakh.

PPF is the only safe and tax effective saving scheme-

In this recommendation of ICAI, it is necessary to increase the deposit limit of PPF, as it is the only safe and tax effective saving scheme. ICAI also said that it believes that the increase in the PPF deposit limit will boost household savings as a percentage of GDP and have an anti-inflationary effect.

Key Suggestions of ICAI

• Increase the annual limit of contribution in PPF from Rs 1.5 lakh to Rs 3 lakh.
• The maximum limit of deduction under section CCF can be increased from Rs 1.5 lakh to Rs 3 lakh.
• The quantum of deduction under section 80C is being increased from Rs 1.5 lakh to Rs 2.5 lakh to provide opportunities for savings to the public at large.
• Union Budget 2022-23 will be presented in Parliament by Finance Minister Nirmala Sitharaman on February 1, 2022.

What is PPF -(What is PPF)

Public Provident Fund or PPF is one of the most popular, long-term investment options in India. This is a savings plan for investors to save long term after retirement.

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Now you will get 38 percent dearness allowance

In June, the Labor Ministry released the data of AICPI i.e. All India Consumer Price Index Industrial Workers, only then it became clear that the dearness allowance is set to increase by at least 4 percent. Now the government has also announced this. With this, dearness allowance has increased from 34 percent to 38 percent.

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Talking about the same Employees Provident Fund Organization, the interest received in the PPF account in the financial year 2022 has been calculated. Soon this has to be transferred to the account of the account holders. This time a total of Rs 72000 crore deposited by the government is expected to be sent to the servant’s account.

Significantly, last year people had to wait for 6 to 8 months for interest. The atmosphere had become a bit different due to his son, but this year the government will not delay in transferring him. According to the information, the interest money in the account will be transferred soon. Talking about the interest level of this year, it has reached a low of 24 years.

In this way interest can be calculated

If you have 1000000 rupees in your account then 81000 will be given as interest.
If you have ₹ 700000 in your PF account then you will get interest of ₹ 56700.
If ₹ 500000 is present in your PF account, then interest up to ₹ 40500 will be given.
If you have ₹ 100000 in your PF account then ₹ 8100 will be available.

In this way, it is very easy to check the balance PF money by giving a missed call. You will get the information after you give missed call on 01122901406 from your registered mobile number. After this, you will also be given the details of PF by the message of EPFO. After your UAN, PAN and Aadhar are linked that you will get the benefit of it.

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Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

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information provided by the government

Actually, this question was asked to Rameshwar Teli in the House whether the government is considering increasing the interest rate on Employees’ Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there is not going to be any increase in the interest rate on the PF account.

Higher interest than small savings schemes

Minister of State for Labor and Employment Rameshwar Teli also said that the interest rate of EPF is higher as compared to other comparable schemes like General Provident Fund (7.10 per cent), Senior Citizen Savings Scheme (7.40 per cent) and Sukanya Samriddhi Account Scheme (7.60 per cent). . That is, according to Rameshwar Teli, the interest on PF from small savings schemes is still high, so the eligible government will not consider the increase in interest rates. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this

Rameshwar Teli has stated that the rate of interest on PF is dependent on the income received by the EPF from its investments and such income is distributed only as per the EPF Scheme, 1952. Rameshwar Teli also said that CBT and EPF have for 2021-22. , 8.10 percent interest rate was recommended, which has been approved by the government, that is, this time PF will get interest at the rate of 8.10.

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Employees’ Provident Fund Organization ie EPFO ​​account holders (EPFO Subscribers) can get a big gift soon. According to the report of ET Now Swadesh, the minimum pension (EPFO Pension) can be increased three times. It has been said in the report that a meeting of the Central Board of Trustees of EPFO ​​is going to be held next month. The three-fold increase in the minimum pension is expected to be discussed in this meeting . The minimum pension can be increased from the present Rs 1,000 to Rs 3,000.

According to the report, a committee headed by the Labor Secretary will submit its report in this matter soon. This decision will benefit about 6.5 lakh pensioners and 5 crore subscribers of EPFO.

There may be an increase in the limit of investment in equity Apart from this, the discussion on increasing the CBT equity limit from 15 percent to 25 percent will also be discussed in the meeting. Let us tell you that the labor union is not in favor of increasing investment in equity. Behind this, he is citing the uncertainty in the stock market as the reason.

Let us tell you that a few days ago, the Finance Ministry had announced 8.1 percent interest rate for the financial year 2021-22, giving a shock to the Employees’ Provident Fund Organization subscribers. This is the lowest level in four decades. For the financial year 2020-21, the rate of interest on EPF was 8.5 percent. The impact of this decision of the government will be on 65 million subscribers i.e. 6.5 crore jobseekers. In order to keep it attractive amid the declining interest rate, the government is considering increasing the limit of investment in the stock market from the EPFO ​​fund.

Actually, debt funds are not getting the required returns, so efforts are being made to get the targeted return by increasing investment in equities. An important meeting of the Finance Investment and Audit Committee was held two weeks ago to consider this proposal. The proposal which will be presented by this committee will be presented before the EPFO ​​Central Body of Trustees.

A meeting of the Central Body of Trustees is proposed in the last week of June. After the discussion on the proposal in this meeting, it will be sent to the Labor and Finance Ministry for final approval.

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This amount will be credited in the account

EPFO will soon release interest money at the rate of 8.1 percent in the account of central employees. In this sense, if you have Rs 10 lakh in your account, then Rs 81,000 will be transferred to your account as interest.

On the other hand, if you have Rs 5 lakh in your account, then Rs 40,500 will be transferred to your account as interest. On the other hand, if you have Rs 1 lakh in your account, then Rs 81,00 will be transferred to your account as interest.

How to check your PF account balance

First of all you have to visit epfindia.gov.in.

You have to go here and click on the option of ‘Click Here to Know your EPF Balance’.

After this you will be redirected to the page of epfoservices.in/epfo/ through a redirect link. After this you have to click on the option of ‘Member Balance Information’.

After this you have to select your state and click on the EPFO ​​office website link of your state.

After this you have to enter your ‘PF Account Number’, name and registered mobile number.

As soon as this process is completed, the balance of your PF account will be visible on your website.

You can also check PF account balance through missed call

If your UAN number is activated, then you can also check your account balance by logging in with UAN number. Apart from this, you can also check the balance of your PF account by sending EPFOHO UAN from your registered mobile number to 7738299899 under EPFO’s SMS service.

You can also check your PF account balance by giving missed call 011-229014016 from your registered mobile number.

You can also check balance through SMS like this

You can also check your PF account balance by SMS from your registered number. You can check your account balance through SMS by sending EPFO ​​UAN LAN to number 7738299899

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For example, if there is a marriage of a son or daughter in the house, then you can easily withdraw money from PF but not more than 3 times. We all know that while in job, Advance PF can be withdrawn . But do we know when and how many times we can withdraw. Provident Fund ( PF ) is our future deposits, which by law should be kept in reserve for retirement only.

But what to do when a difficult situation comes on the forehead. For the same time, the rule of advance withdrawal or advance withdrawal of PF has been made. Employees Provident Fund Organization ( EPFO ) helps you in this. All you have to do is to tell the reason for withdrawing money. Only then does the withdrawal process begin. If the job is lost and there is no money in hand, then this can also be a reason for PF withdrawal.

Apart from this, you can withdraw money in advance for marriage, higher education, building a house to live in, purchase of land to build a house, etc. Now it comes to how much money you can withdraw and how many times you can withdraw money.

If you open your PF account on the website of EPFO, then both the company’s money and your deposited money are visible there. That is, the company and your share appear together in the passbook.

EPFO rules

The rules of EPFO ​​clearly state that the reason you choose for withdrawal decides how much money you will get. If for the reason you have chosen unemployment and did not get salary for two consecutive months, then whatever money you have deposited in PF, you can withdraw it. The second reason is natural disaster.

In this, you will get 75% plus interest of the total amount deposited in PF. OR 3 months salary plus DA. Whichever is less of these two, you will get. Exactly the same rule is for advance withdrawal of PF at the time of Kovid-19. PF advance can be withdrawn only once in the name of Covid-19. The question is that you can apply to withdraw money from PF account many times before retirement and how many times you can get money.

EPFO rules say that money can be withdrawn from PF account many times before retirement, but reason has to be given for that. For example, if there is a marriage of a son or daughter in the house, then you can easily withdraw money from PF but not more than 3 times.

When can you withdraw money

If you want, you can withdraw money 3 times for the education of son or daughter after 10th. If you are buying or building a house or land for it, then you can withdraw money just once.

Any number of times you can withdraw money from EPF account for medical emergency before retirement. There is no prohibition in withdrawing money, but you should also take care of its tax rules. If you withdraw PF money before 5 consecutive years of service, then TDS will be deducted at the rate of 10%. This rate is the same as when giving PAN while withdrawing money.

If PAN number is not given then TDS will be deducted at the rate of 30%. If you withdraw PF money after 5 years of continuous service, then no tax will be levied on it. If an employee transfers his EPF money to the National Pension Scheme or NSC, then he will not have to pay any kind of tax.

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Interest money is expected to arrive in the account of PF employees by July 30, due to which a lot of enthusiasm is being seen among the people. The government has announced to give 8.1 percent interest money for the financial year 2020-21, which is believed to be the lowest in forty years.

Earlier, 8.5 percent interest was announced. EPFO, the PF deducting body, has not yet officially announced the interest, but this claim is being made in all the media reports.

• so much money will come in the account

The Central Government has decided to send 8.1 percent interest to the account of PF employees. This will benefit more than 6 crore employees. Accordingly, if Rs 10 lakh is lying in your account, then interest of Rs 81,000 will be available.

• Check amount like this

You can know how much money is in PF account from your mobile sitting at home. You have to send EPFO ​​UAN LAN to 7738299899 from the mobile number registered with EPFO. If you need information in English, you should type ENG instead of LAN. Thus HIN is written in Hindi and TIM in Tamil.

• Check money with this app

Download UMANG App from Play Store on your Smartphone.

Log in to the app by registering your phone number.

Go to the Services directory in the top left corner menu.

Here click on EPFO ​​option. After going to View Passbook, check your UN number and balance through OTP. With this you can easily access your PF account.

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A big update has come regarding Employees’ Provident Fund (EPF). It was being said that the government may soon change the interest rate on EPF. Last month itself, the central government had approved 8.1 percent interest rate on Employees’ Provident Fund (EPFO) deposits for 2021-22. Now the Minister of State for Labor and Employment, Rameswar Teli in Parliament has cleared the government’s stand regarding the change in interest rate. He has given information to the Rajya Sabha in a written reply to a question.

Rameshwar Teli was asked whether the government would reconsider increasing the rate of interest on the amount deposited in EPF. Responding to this, he made it clear that there is no proposal to reconsider the interest rate. Also, Rameshwar Teli told that the interest rate of EPF is higher than the interest rate available on many government schemes. He told that the interest rate of EPF (8.10 percent) is higher than the interest available on Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent).

Based on the recommendation of the CBT, the Center in June this year had approved an interest rate of 8.1 per cent on PF deposits for 2021-22. The Minister of State said that the interest rate is dependent on the income received from the investment of EPF. It is distributed only as per the EPF Scheme, 1952.

lowest interest in four decades

Right now the rate of interest on PF is at the lowest level in several decades. EPFO has fixed the rate of interest of PF at 8.1 percent for 2021-22. This is the lowest rate of interest on PF since 1977-78. Earlier in 2020-21, PF was getting interest at the rate of 8.5 percent. There was no change in the PF interest rate in the fiscal year 2020-21 (FY21). Just a year before this, in 2019-20, this interest rate was reduced from 8.65 percent to 8.5 percent.

Where would the PF money be invested?

EPFO invests the amount deposited in the PF account holder’s account at many places. A part of the earnings from this investment is given to the account holders in the form of interest. At present, EPFO ​​invests 85 per cent in debt options. These also include government securities and bonds. The remaining 15 per cent is invested in ETFs. The interest of PF is decided on the basis of earning from debt and equity.

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The government has announced to give 8.1 percent interest for the financial year 2020-21, which is the lowest in the last forty years. Earlier also it was announced to give 8.5% interest. The EPFO, which keeps the accounts of PF, has not yet officially announced the date of sending the interest money, but in some reports it is being claimed till August 30.

Know how many thousand rupees will come in the account

According to the Modi government of the Center, EPFO ​​is now going to transfer 8.1 percent interest in the account of PF employees. As per the announcement, 8.1 percent interest will be given on the amount. Accordingly, if 8 lakh rupees are lying in your account, then about 64 thousand rupees will be given as interest. There is a lot of enthusiasm among the employees regarding this. The government annually puts PF money in the account of PF employees.

Just check

• To check your PF account balance, first you have to visit epfindia.gov.in.
• After this you have to click on the option ‘Click Here to Know your EPF Balance’.
• After this you have to visit the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘Member Balance Information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the EPFO ​​office website link of your state.
• After that you have to click on the option of ‘Submit’.

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According to the report, a committee headed by the Labor Secretary will submit its report in this matter soon. This decision will benefit about 6.5 lakh pensioners and 5 crore subscribers of EPFO.

There may be an increase in the limit of investment in equity

Apart from this, the discussion on increasing the CBT equity limit from 15 percent to 25 percent will also be discussed in the meeting. Let us tell you that the labor union is not in favor of increasing investment in equity. Behind this, he is citing the uncertainty in the stock market as the reason.

Let us tell you that a few days ago, the Finance Ministry had announced 8.1 percent interest rate for the financial year 2021-22, giving a shock to the Employees’ Provident Fund Organization subscribers. This is the lowest level in four decades. For the financial year 2020-21, the rate of interest on EPF was 8.5 percent. The impact of this decision of the government will be on 65 million subscribers i.e. 6.5 crore jobseekers. In order to keep it attractive amid the declining interest rate, the government is considering increasing the limit of investment in the stock market from the EPFO ​​fund.

Actually, debt funds are not getting the required returns, so efforts are being made to get the targeted return by increasing investment in equities. An important meeting of the Finance Investment and Audit Committee was held two weeks ago to consider this proposal. The proposal which will be presented by this committee will be presented before the EPFO ​​Central Body of Trustees.

A meeting of the Central Body of Trustees is proposed in the last week of June. After the discussion on the proposal in this meeting, it will be sent to the Labor and Finance Ministry for final approval.

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In case of any financial emergency, it cannot be confiscated to pay off the debt. It has legal protection under section 10 of the EPF and MP Act 1952. Therefore it cannot be attached. Attachment of property means that you will not be able to use or sell it. However, it is not only EPF which has got such protection. Deposits under many other schemes also cannot be attached. Let us know about them in detail.

EPFO Employees Provident Fund and Employees Pension Scheme are covered under the above section. Employers and employees contribute 12-12 per cent of basic salary and DA in EPF. It is considered an important component of social security, hence it has been given legal protection. It is worth noting that the facility of EPF is available only to the people working in the organized sector. Your employer also cannot compensate any loss done by you from the PF account.

The amount deposited in the PPF account has legal protection under Section 14A of the PPF Government Savings Bank Act 1873.Every Indian citizen can invest in this. You can invest in PPF from Rs 500 to Rs 1.5 lakh per year. The interest rate on PPF is 8% per annum.

The amount of NPS National Pension Scheme (NPS) has legal protection under Section 6A of the Pension Fund Regulatory Authority of India. It is seen as an important saving scheme for old age.

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A big update has come regarding Employees’ Provident Fund (EPF). It was being said that the government may soon change the interest rate on EPF. Last month itself, the central government had approved 8.1 percent interest rate on Employees’ Provident Fund (EPFO) deposits for 2021-22. Now the Minister of State for Labor and Employment, Rameswar Teli in Parliament has cleared the government’s stand regarding the change in interest rate. He has given information to the Rajya Sabha in a written answer to a question. 

no proposal for change

Rameshwar Teli was asked whether the government would reconsider increasing the rate of interest on the amount deposited in EPF. Responding to this, he made it clear that there is no proposal to reconsider the interest rate. Also, Rameshwar Teli told that the interest rate of EPF is higher than the interest rate available on many government schemes. He told that the interest rate of EPF (8.10 percent) is higher than the interest available on Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent).

Based on the recommendation of the CBT, the Center in June this year had approved an interest rate of 8.1 per cent on PF deposits for 2021-22. The Minister of State said that the interest rate is dependent on the income received from the investment of EPF. It is distributed only as per the EPF Scheme, 1952.

lowest interest in four decades

Right now the interest rate on PF is at the lowest level in several decades. EPFO has fixed the rate of interest of PF at 8.1 percent for 2021-22. This is the lowest rate of interest on PF since 1977-78. Earlier in 2020-21, PF was getting interest at the rate of 8.5 percent. There was no change in the PF interest rate in the fiscal year 2020-21 (FY21). Just a year before this, in 2019-20, this interest rate was reduced from 8.65 percent to 8.5 percent. 

Where would the PF money be invested?

EPFO invests the amount deposited in the PF account holder’s account at many places. A part of the earnings from this investment is given to the account holders in the form of interest. At present, EPFO ​​invests 85 per cent in debt options. These also include government securities and bonds. The remaining 15 per cent is invested in ETFs. The interest of PF is decided on the basis of earning from debt and equity.

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A source told news agency PTI- Bhasha that a proposal for the formation of a central pension distribution system will be proposed in the meeting of the Central Board of Trustees (CBT), the apex decision-making body of the EPFO, to be held on July 29 and 30.

Further quoting the source, the report said that after the installation of this system, the distribution of pension will be done on the basis of the database of 138 regional offices, so that 73 lakh pensioners will be given pension simultaneously.

It was also informed that all the Regional Offices deal with the needs of the pensioners of their area differently. This allows pensioners to be paid pension on different days.

In the 229th meeting of the CBT held on November 20, 2021, the Trustees approved the proposal of C-DAC to develop a centralized IT based system. The Labor Ministry had said in a statement after the meeting that thereafter the details of regional offices would be shifted to the central database in a phased manner. This will facilitate the operation and delivery of services.

At present, 138 regional offices of EPFO ​​transfer pension to the accounts of the beneficiaries of their area. In such a situation, pensioners get pension on different days and times. 

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If PF is deducted from the salary of any member of your family due to your salary, then this news is of your use. Now a huge amount is going to be transferred in the accounts of such employees. Employees’ Provident Fund Organization (EPFO) is soon going to transfer interest money in the account of employees, which will benefit more than 6 crore people in a big way. 

If there is 5 lakh in the account, you will get Rs 40,000 interest

According to the announcement of the government, 8.1 percent interest has been announced for the financial year 2021-22, which is the lowest in the history of 40 years. If 5 lakh rupees are lying in your PF account, then you will easily get interest of about 40 thousand rupees.

Official announcement has not been made

The EPFO, which has cut PF, has not yet made an official announcement to put money in the account, but in some media reports this thing is being done on a large scale. It is being claimed in media reports that this amount can be transferred soon.

Check pf money like this

If you are a PF employee then do not go to the office to see the money in the account. You can easily check all your money sitting at home. Now you have to send EPFO ​​UAN LAN to 7738299899 from mobile number registered with EPFO. LAN stands for your language. If you want information in English, then you have to write ENG instead of LAN. In this way HIN is written for Hindi and TAM is written for Tamil. To get information in Hindi, you have to message by writing EPFOHO UAN HIN.

You can also check money from this app

• Download UMANG App from Play Store on your Smartphone.
• Register your phone number and log in to the app.
• Go to the menu in the top left corner and navigate to ‘Service Directory’.
• Search here and click on EPFO ​​option.
• After going to View Passbook here , check the balance through your UAN number and OTP.

The post Good News PF Account holders ! EPFO to transfer big amount in EPFO members account first appeared on Rightsofemployees.com.

Employees’ Provident Fund Organization ie EPFO ​​account holders (EPFO Subscribers) can get a big gift soon. According to the report of ET Now Swadesh, the minimum pension (EPFO Pension) can be increased three times. It has been said in the report that a meeting of the Central Board of Trustees of EPFO ​​is going to be held next month. The three-fold increase in the minimum pension is expected to be discussed in this meeting . The minimum pension can be increased from the present Rs 1,000 to Rs 3,000.

According to the report, a committee headed by the Labor Secretary will submit its report in this matter soon. This decision will benefit about 6.5 lakh pensioners and 5 crore subscribers of EPFO.

There may be an increase in the limit of investment in equity Apart from this, the discussion on increasing the CBT equity limit from 15 percent to 25 percent will also be discussed in the meeting. Let us tell you that the labor union is not in favor of increasing investment in equity. Behind this, he is citing the uncertainty in the stock market as the reason.

Let us tell you that a few days ago, the Finance Ministry had announced 8.1 percent interest rate for the financial year 2021-22, giving a shock to the Employees’ Provident Fund Organization subscribers. This is the lowest level in four decades. For the financial year 2020-21, the rate of interest on EPF was 8.5 percent. The impact of this decision of the government will be on 65 million subscribers i.e. 6.5 crore jobseekers. In order to keep it attractive amid the declining interest rate, the government is considering increasing the limit of investment in the stock market from the EPFO ​​fund.

Actually, debt funds are not getting the required returns, so efforts are being made to get the targeted return by increasing investment in equities. An important meeting of the Finance Investment and Audit Committee was held two weeks ago to consider this proposal. The proposal which will be presented by this committee will be presented before the EPFO ​​Central Body of Trustees.

A meeting of the Central Body of Trustees is proposed in the last week of June. After the discussion on the proposal in this meeting, it will be sent to the Labor and Finance Ministry for final approval.

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PF account holders can get great happiness. The EPF Board has recently reduced the EPF rate from 8.5 per cent to 8.1 per cent for the 2021-22 financial year, which is being heavily criticized. EPF is now planning to give higher returns to its investors. Actually, the EPFO ​​board can take a decision on increasing the investment limit in the stock market.

Board can decide

It is worth noting that on July 29 and 30, 2022, the meeting of the EPFO ​​​​board is going to be held in which the proposal to increase the existing limit of investment in the stock market and related products from 15 percent to 20 percent can be approved. If the EPF board takes this decision, then investors will get more returns than investing in the stock market.

Government can announce

In a written reply to a question in the Lok Sabha, Minister of State for Labor and Employment Rameshwar Teli said, “The FIAC, a sub-committee of the CBT, has recommended raising the equity and equity related investment limit from 5-15 per cent to 5-20 per cent.” However, let us tell you that trade unions have been opposing the increase in the investment limits of EPFO ​​in the stock market. The government believes that there is no government guarantee on this investment, due to which investors may have to suffer losses.

Up to 20 percent investment in equity possible

Significantly, the Finance Investment and Audit Committee of EPFO ​​has approved the proposal to increase the limit of investment in the stock market to 20 percent. At present, the EPFO ​​invests only 5 to 15 per cent of its funds through Exchange Traded Funds (ETFs). Actually, this time EPFO ​​has got a return of 16.27 percent in 2021-22 from investment in equity, which was 14.67 percent in 2020-21. EPFO has invested in Nuclear Power Bonds for 15 years, on which an interest of 6.89 percent will be paid annually. At present, interest from 7.27 percent to 7.57 percent is being available on Central Government and State Government bonds. Obviously, EPFO ​​is getting low returns on investment in government bonds to corporate bonds.

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These accounts are managed by the Employees’ Provident Fund Organization (EPFO). You can withdraw money from your PF account in difficult times. Although this government scheme has been made for the betterment of the employees, but in the last few years, PF members are suffering. Let’s know how.

Interest rate on reduced PF (EPF Interest Rate)
Actually, interest is given by the government on the amount deposited on the PF account. The employees are waiting for this interest amount. But this interest rate has come down in the last few years. Some time ago the Employees’ Provident Fund Organization reduced the interest rate for the financial year 2021-22 from 8.5 percent to 8.10 percent. This rate is the lowest in the last 40 years. In such a situation, now PF members are getting less benefit than before.

In the last 10 years 
, the interest has reduced so much, if we talk about the last one decade, then the interest has reduced a lot. In the year 2010-11, the government used to put the amount of interest at the rate of 9.50 percent in the account of PF members, but in the very next year, i.e. 2011-12, the interest rate was reduced to 8.25 percent. However, it increased after that. In the year 2012-13, the employees used to get 8.50 per cent interest. It was 8.75 per cent in 2013-14 and 2014-15 and 8.80 per cent in 2015-16. After this, the amount of interest reduced for two consecutive years and became 8.55 percent.

At one time, 12 percent interest was
available in 1952, where the interest rate on PF was only 3 percent, it reached above 6 percent in 1972 and after that it continued to increase every year. It went above 10 per cent for the first time in 1985-86. But the year 1989 to 1999 was the best time for PF members because during this time 12 percent interest was available on PF. But then it started declining.

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This is an investment falling in the EEE category, that is, there is no tax on investment, interest and maturity amount. You get great interest on investment in PPF as well as tax exemption on investments up to Rs 1.5 lakh per annum. This is the reason why people are worried about investing in PPF. But you can also get more profit from this investment. If you keep some important things in mind before investing in PPF, then you will be in profit. 

Investment limit in PPF will be doubled 

Investors in PPF not only get assured returns, but also get income tax exemption under Section 80C of Income Tax on investments up to Rs 1.5 lakh. Many times it also happens that even after the limit of PPF investment is over, the investor is left with money and he is looking for investment options. According to tax experts, if the investor is married, then he can open a PPF account in the name of his wife or husband and invest Rs 1.5 lakh separately in it.

Also Read: EPFO Pension: Big news for 73 lakh pensioners, EPFO ​​is going to do this work

These benefits are available on investment in PPF 

According to experts, if you open a PPF account in the name of your life partner, then the limit of PPF investment will also double, although even then the income tax exemption limit will still be Rs 1.5 lakh. Even if you get 1.5 lakh income tax exemption, but it has many other benefits. PPF investment limit doubles to Rs 3 lakh. Being in the EEE category, the investor gets tax exemption on the interest and maturity amount of PPF.

These provisions have no effect 

Income from any sum or gift given by you to your wife will be added to your income under section 64 of Income Tax. However, in case of PPF which is completely tax free on account of EEE, the provisions of clubbing have no effect.  

Also Read: Good news for EPFO account holders money will come in the account before 31st july 2022, know more details

Great trick for married people

In this, when your partner’s PPF account matures in future, then the income from your initial investment in your partner’s PPF account will be added to your income year after year. Therefore, this option also gives married people a chance to double their contribution in the PPF account. This is a better option especially for those people who want to take less risk and do not want to make market linked investments like NPS, Mutual Funds, where the risk appetite is high. Let us tell you that the interest rate of PPF has been fixed at 7.1% for the July-September quarter.

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Today we will tell you how your small contribution in PF can make you a millionaire. For your information, let us tell you that there is no tax on the contribution made in EPF up to Rs 1.50 lakh every year. Apart from this, after contributing for more than 5 years, the maturity amount also becomes out of the tax net.

How to become a crorepati from PF
If we assume that you started work at the age of 21 and your basic monthly income and DA is Rs 25,000 then you can retire with Rs 1 crore in PF account. As per the existing EPFO ​​rules, every employer has to put 12% of basic salary and DA in PF. The same amount is also deducted every month from the salary of the employee, from which the prepared fund is withdrawn at the time of retirement. Out of the employer’s 12 per cent, 8.33 per cent goes towards pension funds and only 3.67 per cent is invested in EPFO.

The government has fixed an annual interest rate of 8.1 percent on PF for 2022-23. If you keep getting the same interest rate and you do not withdraw your money till retirement, then at the time of retirement Rs 1 crore will be accumulated in your account.

How much will the fund increase when the salary increases,
if you invest in the PF fund from the age of 21 to 60 years and you get 8.1 percent annual interest on it, then after 39 years you will have a corpus of Rs 1.35 crore. If your salary increases by 5 percent every year, then it will be Rs 2.54 crore. With an annual growth of 10 per cent, this will increase to Rs 6 crore. Remember that all this calculation has been done on the basis of prevailing interest rate. It keeps on changing from time to time. Apart from this, you will not have to make any partial withdrawals in the middle to reach this goal.

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 The interest rate on PPF has been kept at 7.10 percent for the last days by the government. But in the last few years, the government has changed its rules. Let’s know about these changes.

Money will be deposited only once in a month,
it is necessary to invest in PPF account in multiples of Rs 50. This amount should be at least Rs 500 or more annually. But in the PPF account, you can deposit up to 1.5 lakh in the entire financial year. Only on this you get the benefit of tax exemption. Apart from this, money can be deposited in PPF account only once in a month.

You can also take a loan against the balance in the PPF account with a huge reduction in the interest rate . In the last days, this interest rate has been reduced from 2 percent to 1 percent. After paying the principal amount of the loan, you will have to pay the interest in more than two installments. Interest is calculated on the first of every month.

Now the account will remain active even after 15 years, even after
investing for 15 years, if you are not interested in investment then you can continue your PPF account without investment. After the completion of 15 years, it is not necessary to deposit money in this account. You can withdraw money only once in a financial year by opting to extend the PPF account after maturity.

To open an account, this form
has to be submitted, instead of Form A (Form-A), for opening a PPF account, Form-1 (Form-1) has to be submitted. For extension of PPF account after 15 years (with deposits) one year before maturity, one has to apply in Form-4 instead of Form H.

Loan against
PPF Loan is also available on PPF account. Its rule is that two years before the date of application, you can get a loan only 25 percent of the balance in your account. Understand this in easy language, you applied for the loan on 31st March 2022. Two years before this (March 31, 2020), if there was 1 lakh rupees in the PPF account, then you can get 25 percent of it i.e. 25 thousand loan.

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The Employees’ Provident Fund Organization (EPFO) gives the right to employers to create Universal Account Number (UAN) of their employees. But users can also create their own UAN personally. You can check your EPF account if you have your 12 digit UAN number. With this, you can check the amount of your EPF account in addition to the passbook related to your account.

How to create a UAN number online

There are few steps to generate UAN number online. You should have your Aadhaar number ready before starting them. Also, you should also have your mobile phone with you so that you can see the OTP received on the mobile very soon.

1. First of all, you have to go to the Member e-Sewa tab of the EPFO ​​portal .
2. Here in Important Links, you click on Active UAN.
3. After that click on Aadhaar option and enter your Aadhaar number.
4. Now enter your name, date of birth, mobile number and CAPTCHA code.
5. After filling all this information, click on the button of Get Authorization Pin.
6. Now a new screen opens here and you will be shown all the same details which you had filled a while back. Make sure that all the information is correct.
7. Now click on the Agree check box.
8. Now an OTP will be sent to your mobile number. Fill it in the space provided.
9. Now click on Validate OTP and Activate UAN.After completion of all this process you are given UAN number and password which will be sent on your registered mobile number only. You can check whether the information sent to you is correct or not by login to the EPFO ​​portal.

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Let us tell you that this time interest will be available at the rate of 8.1 percent. According to the information received so far, the Employees’ Provident Fund Organization has calculated the interest received in the PF account in the financial year 2022. Soon it will be transferred to the account of the account holders. This time a total of Rs 72,000 crore deposited in the account of the government will be sent to the account of the employed.

When will the money be transferred?

It is worth noting that last year people had to wait for 6 to 8 months for interest. But, last year due to Covid, the atmosphere was different. This year the government will not delay. According to media reports, interest money can be transferred to the account till July 15. This year’s interest is at the lowest level in 40 years.

1. Know Balance from Missed Call

To check your PF money, you have to give a missed call on 011-22901406 from your registered mobile number. After this, you will get the details of PF through the message of EPFO. Here also it is necessary to have your UAN, PAN and Aadhaar linked.

2. Check Balance Online

1. To check balance online, you have to log on to the EPFO ​​website, click on e-passbook at epfindia.gov.in.
2. Now on clicking on your e-passbook, a new page will come to passbook.epfindia.gov.in.
3. Now here you fill your username (UAN number), password and captcha
4. After filling all the details, you will come to a new page and here you will have to select the member ID.
5. Here you will get your EPF balance on the e-passbook.

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This taxation scheme came into effect from 1st April this year. Employees in India are required to have an EPF account. As per the circular, TDS will be deducted on payment of interest in the EPF account. TDS will be deducted at a later date on final settlement pending for final settlement or transfer.

For those who have not integrated their PAN into their EPF accounts, contributions above Rs 2.5 lakh will be taxed at 20% from their annual income. Those who have linked their EPF accounts with their PAN will be taxed at the rate of 10%.

Other information about the new guidelines

• As per the circular, the EPFO ​​will maintain a non-taxable account and a taxable account for all such members who contribute more than 2.5 lakhs.
• If the TDS calculated is less than 5,000, no TDS will be deducted from the interest deposited in such EPF accounts.
• For ex-pat and non-resident employees having EPF accounts active in India, tax will be levied at the rate of 30% as per the requirements of the Double Taxation Avoidance Agreement between India and the country concerned.
• TDS will also be applicable to all EPFO ​​members, especially members of exempted establishments or exempted trusts.
• In case of death of EPFO ​​member, TDS rate will remain unchanged.

The interest earned on the funds in EPF accounts is credited on an annual basis. However, the accounts are maintained on a monthly basis. Consequently, if no transfer or final settlement is made in the entire financial year, TDS will be deducted on payment of interest. EPFO now has 24.77 crore accounts of its members.

New rules are applicable on TDS for the residents of the same. TDS 4% Cess is applicable for Non Resident Indian. Apart from this, interest surcharge has been fixed at 10 percent for Indian non-resident above 50 to 1 crore, while there is a 15 percent surcharge on interest above one crore to 2 crore, while if its number is more than 10 crore, then the right on interest. 37% has been fixed. However, there will be no head charge on interest above ₹ 50 lakh.

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A high level committee has agreed to this proposal sent to the Finance Ministry. If this proposal is implemented, then 75 lakh additional workers will come under the purview of this scheme. Actually, EPFO ​​had sent a proposal to the Finance Ministry about four years ago, in which it was talked about increasing the limit.

Now in this regard, a high-level committee has proposed to the Modi government at the Center to increase the salary limit under the Employees’ Provident Fund Organization to Rs 21,000 per month from the existing Rs 15,000. EPFO ​​members are in favor of increasing the pensionable salary.

The committee says that the central government can implement the increase in salary from the back date after considering all the proposals. The last revision on the limit of pensionable salary was done in 2014, in which the government increased the PF salary limit from Rs 6500 to Rs 15000. After its implementation, an estimated 75 lakh additional workers will be brought under the scheme.

In ESIC also, the salary limit of Rs 21 thousand can be done. Not only this, the salary increase can also be adjusted like the last revision in 2014. Explain that the central government gives Rs 6,750 crore every year in EPF. Under this scheme, the government contributes 1.16 percent of the total salary of EPFO ​​members, to take advantage of this, for a company with 20 or more employees, register in EPFO.

It is mandatory to have With the increase of the salary limit of Rs 15000 to Rs 21,000, not only will lakhs of employees come under the retirement scheme, but the salary limit will be equal to that of Employees’ State Insurance Corporation (ESIC). At the same time, they will get the benefit of various facilities of EPFO.

Taking a look at the current rates of contribution, in case of an existing EPS member (as on 01-09-2014) whose pension contribution was earlier paid in EPS salary limit of Rs.6500, with effect from 01-09-2014 Rs.15000 Contributors above the salary limit, he/she will now have to give fresh consent and deposit the amount of 1.16 per cent in the pension fund (A/C No. 10) through the employer on the salary exceeding Rs.15000/-.

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Great news is coming for 7 crore subscribers of Employees’ Provident Fund Organization ie EPFO. The government is soon going to transfer the interest for the financial year 2022 to the account of EPFO ​​account holders.

Let us tell you that this time interest will be available at the rate of 8.1 percent. According to the information received so far, the Employees’ Provident Fund Organization has calculated the interest received in the PF account in the financial year 2022. Soon it will be transferred to the account of the account holders. This time a total of Rs 72,000 crore deposited in the account of the government will be sent to the account of the employed.

When will the money be transferred?

It is worth noting that last year people had to wait for 6 to 8 months for interest. But, last year due to Kovid, the atmosphere was different. This year the government will not delay. According to media reports, interest money can be transferred to the account till July 15. This year’s interest is at the lowest level in 40 years.

1. Know Balance from Missed Call

To check your PF money, you have to give a missed call on 011-22901406 from your registered mobile number. After this, you will get the details of PF through the message of EPFO. Here also it is necessary to have your UAN, PAN and Aadhaar linked.

2. Check Balance Online

1. To check balance online, you have to log on to the EPFO ​​website, click on e-passbook at epfindia.gov.in.
2. Now on clicking on your e-passbook, a new page will come to passbook.epfindia.gov.in.
3. Now here you fill your username (UAN number), password and captcha
4. After filling all the details, you will come to a new page and here you will have to select the member ID.
5. Here you will get your EPF balance on e-passbook.

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Benefits of e-nomination
– EPFO ​​said that the member family can claim settlement online on the death of the member after filing e-nomination.

– Online payment of PF, pension and insurance up to Rs 7 lakh to eligible nominees will be done with paperless and quick claim settlement.

In order to avail Provident Fund (PF), Pension (EPS), and Insurance (EDLI) benefits, a nomination must be made in one’s EPF account.

How to register e-nomination

– Members can visit the official EPFO ​​UAN portal epfindia.gov.in

Click on Services and select ‘For Employees’ and subsequently click on ‘Member UAN/Online Service’.

– Log in using UAN and Password

Now, under the ‘Manage’ tab, select the ‘e-Nomination’ option

– Under the ‘Provide Details’ tab that appears on the screen, click ‘Save’

– Now click on ‘Yes’ to update the family declaration

Now click on ‘Add Family Details’ to add the details of the family member in the e-nomination form. More than one nominee can also be added

Click on ‘Nomination Details’ to declare the total amount of shares.

Next, click on ‘Save EPF Nomination’. Click on ‘e-Sign’ to generate OTP and submit the OTP received on Aadhaar linked mobile number and process is now complete.

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In earlier times, withdrawing money from EPF was a difficult task, but now you can withdraw EPF money sitting at home. For this you have to download UMANG app. Through this you can easily withdraw PF money. The government launched the UMANG app in 2017. Let us tell you how you can withdraw your money from UMANG app.

Make a claim for money like this through Umang App

• First of all login to UMANG App
• Select EPFO ​​and click on ‘Employee Centric Services’.
• After this you click on ‘Raise Claim’ option.
• Enter UAN details.
• Click on ‘Get OTP’
• After this an OTP will come on the registered mobile number.
• After filling the OTP, click on ‘Login’.
• After this, now enter the last four digits of the bank account.
• Select the Member ID and click on ‘Proceed for claim’.
• After that enter ‘Address.
• After entering the address, click on ‘Next’. After that upload the photo of the check.
• After this the money will be transferred to your account within the stipulated time frame.

Through this app you can easily check PF details, apart from this you can also download passbook.

How to download 
UMANG App can be downloaded from Google Play Store (Android users) and iOS App Store (iPhone users). Apart from this, you can also download this app by giving a missed call to 9718397183, in fact, on missed call, you get a link, from which you can easily download it.

What is UMANG App
The Government of India launched this app in 2017. This app was created by the Ministry of Electronics and Information Technology. You can download the app from both iOS and Android. This app provides a wide range of services. Through this app you can avail facilities like Employees Provident Fund (EPF), PAN, Aadhaar, DigiLocker, Gas Booking, Mobile and Electricity Bill Payment etc. Most of the employees working in government and non-government sectors have a PF account. While doing the job, some part of the salary of the employees is credited in their PF account.

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EPFO Alert: If PF is deducted from the salary of any member of your family due to your salary, then this news is of your use. Now a huge amount is going to be transferred in the accounts of such employees. Employees’ Provident Fund Organization ie EPFO ​​is now going to transfer interest money in the account of employees soon, which will benefit more than 6 crore people in a big way.

Also Read: PF Withdrawal: How to claim PF in medical emergency for fast process

If there is 5 lakh in the account, you will get Rs 40,000 interest According to the announcement of the government, 8.1 percent interest has been announced for the financial year 2021-22, which is the lowest in the history of 40 years. If 5 lakh rupees are lying in your PF account, then you will easily get interest of about 40 thousand rupees.

Official announcement has not been made

The EPFO, which has cut PF, has not yet made an official announcement to put money in the account, but in some media reports this thing is being done on a large scale. It is being claimed in media reports that this amount can be transferred soon.

Check pf money like this

If you are a PF employee then do not go to the office to see the money in the account. You can easily check all your money sitting at home. Now you have to send EPFO ​​UAN LAN to 7738299899 from mobile number registered with EPFO. LAN stands for your language. If you want information in English, then you have to write ENG instead of LAN. In this way HIN is written for Hindi and TAM is written for Tamil. To get information in Hindi, you have to message by writing EPFOHO UAN HIN.

• You can also see money from this app
• Download UMANG App from Play Store on your Smartphone.
• Register your phone number and log in to the app.
• Go to the menu in the top left corner and navigate to ‘Service Directory’.
• Search here and click on EPFO ​​option.

After going to View Passbook here , check the balance through your UAN number and OTP.

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After the introduction of the facility of online withdrawal from PF account by EPFO, people have got a lot of convenience. There are times when you suddenly need money. In such a time, PF only comes in your work.

The money will come in an hour.

Recently, the central government had taken an important decision due to the rapid increase in the cases of corona in the country. After this decision, PF account holders will not have to wait for three days to withdraw money. Yes, now the PF amount will be transferred to your account within an hour of online application. Under this, an amount up to one lakh rupees can be withdrawn.

Money will be used for treatment,

this facility is being given by the government under medical emergency. In the facility started by the government, if a corona patient does not have money for treatment, then he can withdraw the amount deposited in PF for treatment.

Withdraw money this way

• First of all go to the home page of www.epfindia.gov.in website.
  Now click on Online Advance Claim given at the top right corner. Click
  on https://unifiedportalmem.epfindia.gov.in/memberinterface
• Here you will see the claim form on the online service, here you will see Form-31,19,10C and 10D.
• Verify by entering the last 4 digits of your bank account.
• After this click on Proceed for Online Claim.
• Select PF Advance from the drop down (Form 31)
• Now choose the reason for which you want the money.
• Enter the amount and upload the scanned copy of the cheque.
• Then enter your address
• Click on Get Aadhaar OTP and enter the OTP received on the Aadhaar linked mobile.
• Your claim has been filed. Within a few hours, your claimed money will be credited to the bank account.

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According to the latest data released on Thursday, the new registration in April was only 20,164, while in the provisional figures released in July, the number was one lakh. On an average, there are around seven lakh new registrations in EPFO ​​every month. According to the data, the total number of new subscribers increased to 78.58 lakhs during FY 2019-20 from 61.12 lakhs in the previous financial year.

Also Read: India Inc’s C-suite movements shot up in Covid-hit first quarter of FY 2021: Study

EPFO has been releasing new shareholder data since April 2018. In this, figures are being taken from September 2017. EPFO states that 1.63 crore new shareholders joined EPFO ​​during September 2017 to June 2020. The total number of shareholders of EPFO ​​is more than 60 million.

The EPFO ​​has stated that payroll data is provisional and the work of updating employee records has been ongoing and is done in a later month.

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new Delhi. Everyone saves to secure their future. Saving is essential, especially to avoid problems after retirement, but the dream of becoming a millionaire often remains unfulfilled for employed people. But through Public Provident Fund, PPF, your wish can be fulfilled. By investing in it, you can get up to 1 crore rupees at the time of retirement. So how to invest in this scheme and what is the whole process.

What is PPF Scheme
This is a popular long-term popular scheme. Saving and investing through this is very easy. The scheme offers an interest of up to 7.1 percent. Being supported by the Government of India, it is a very safe investment-wise scheme. The good thing in it is that its returns are completely tax free. Therefore, the maturity amount and interest on it is all tax free.

Also Read: How to Check Your Permanent Labor Certification (PERM) Status

Special features related to the scheme
PPF maturity period is 15 years. However it can be extended further over a period of 5–5 years.
For this extension, Form-H has to be submitted. For example, if the PPF account holder wants to invest for 25 years, the investor will have to submit Form-H twice after 15 and 20 years of opening the PPF account. You can avail income tax exemption on investment of up to Rs 1.5 lakh in any financial year in PPF account.

In this
way, you can make one crore rupees, although there is no limit to the investment in PPF account. Despite this, suppose someone has invested in it for 15 years. So the investor invests 1.5 lakh rupees (Rs 12,500 per month) every financial year. In this case, the maturity amount will be Rs 40,68,210. To raise one crore rupees, you can further expand the account by taking advantage of the expansion facility in PPF. In such a situation, if an investor keeps investing Rs 1.5 lakh every year for 25 years, the maturity amount will be Rs 1,02,40,260 if the rate of interest remains constant at 7.1% for the entire period.

How to open an account
PPF account can be opened in any post office or bank. It can be opened by any Guardian in your name and on behalf of the minor. However, it does not open a joint account. The minimum amount for opening a PPF account is Rs 100. While the maximum investment limit has been fixed at Rs 150,000 per year. These funds can be deposited in a maximum of 12 installments every year or lump sum. Generally after opening a PPF account the loan can be availed from Third Financial. Whereas from the seventh financial year, withdrawals are allowed from each year.

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People get upset when there is any problem in transfer or withdrawal of PF amount. In this period of Corona crisis, PF office should also be avoided. In such a situation, you can file your complaint through EPFO’s ‘EPF I-Grievance Management System’.

Also Read: ITR Processing Pending? Now you can e-Verify Income Tax Return data for last 5 years up to this date

Through this platform, EPF Subscriber can register any complaint related to their PF account. This portal can be used by EPF account holders with EPS pensioners and employees. If you are a PF subscriber, keep your Universal Account Number (UAN) ready to register any kind of complaint. If you are a pensioner, you will need a PPO number.

Let’s know how to file a complaint

1. First of all log on to the EPFO ​​portal www.epfigms.gov.in.
2. After this, click on ‘Register Grievance’ to register a complaint.
3. Now on the new page, choose whether you are an EPF member or a pensioner. If you do not have a UAN or PPO number, you can choose the option of ‘Others’. Apart from this, there is also a separate option for the employer.
4. If you have a UAN, select the PF member option and enter the captcha code with the UAN. After that click on the option ‘Get Details’.
5. Now click on Get OTP. Now OTP will be received on your registered mobile number and email id. 
6. After this enter OTP and click on submit button. 
7. After successful verification of OTP you will be asked to enter personal information. 
8. Now click on the PF number for which you have to file a complaint.
9. After this, a pop-up will appear in front of you, where you have to choose what your complaint is related to. For example- PF office, employer, employee or anything else.
10. Now choose the category of your complaint. Provide information about it and upload the documents as proof. 
11. After this, submit your complaint. 
12. After this, you will receive the complaint number on the registered email ID and mobile number.

The post If you are unable to withdraw money from PF Account, then adopt this method, it will be easy to work first appeared on Rightsofemployees.com.

The Employees’ Provident Fund Organisation (EPFO) has been taking various measures to help its subscribers in the time of Covid19, especially those who want to make PF withdrawals. For instance, early on during the pandemic, EPFO had helped its customers by offering a settlement of Covid19 advance claims and giving it a high priority. Additionally, EPFO had said that subscribers could also make multiple claims if they have already made any other claims.

Also Read: Unable to withdraw or transfer PF money? Here is how to lodge your grievances

According to the retirement fund body, subscribers are allowed to withdraw money from their EPF corpus. However, in order to ensure the timely credit of the fund withdrawn, one must make sure to have the correct bank account details in the records of the organization. Incorrect bank details can lead to delays or even failure of credit transactions.

Hence, if you think you have incorrect details with the organization, you could rectify it through the EPFO’s unified portal. It can be done using the Universal Account Number (UAN). The 12-digit unique code linked with all PF accounts can be used to update bank details, along with the transfer of funds, make withdrawals, and check PF balance.

Update the bank account details of your EPF account online;

• Go to the EPFO’s member portal and login through your username and password.
• Next, from the top menu go to the ‘Manage’ option.
• Click on the ‘KYC’ option from the drop-down menu.
• While selecting the document type, select ‘bank’.
• Next, add your correct bank account details – bank account number and IFSC as per your bank records, and click on ‘Save’ to proceed.






• Once your details are saved, you will be able to see it under the ‘KYC pending for approval’ option.
• Next, you will have to submit the document proof to your employer.
• After your employer verifies your documents, the status will be shown in the EPFO portal under ‘Digitally Approved KYC’. You will also receive an SMS on your registered mobile number, after approval.

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Many employees face difficulties in transferring their Employees’ Provident Fund (EPF) account from the previous organisation to the new organisation after switching their jobs or while withdrawing money after leaving an organisation.

The difficulties may arise due to differences in name, father’s name, date of birth, PAN/Aadhaar details etc mentioned in the EPF account in comparison to what is mentioned in the ID documents.

Sometimes, problems may arise due to non deposit of contributions in the accounts by the employer or mismatch in joining and leaving dates in EPF accounts and the corresponding dates of joining and leaving the service by the employee.

Also Read: Want to work with Amazon? Here’s how to apply for a job at Amazon India

In case of such problems, employees get frustrated due to non cooperation from employers and difficulties in reaching out to the Employees’ Provident Fund Organisation (EPFO), especially during the Covid-19 pandemic.

EPFO has launched EPF i Grievance Management System (EPFiGMS), which is a customised portal of EPFO, with an aim to redress grievances for the services provided by EPFO.

Moreover, grievances can be lodged at any place and will land in the concerned office to which the grievances pertain.

So, grievances can be sent to the Head Office at New Delhi or to the field offices (now 135) across the country.

Several advanced features have been incorporated in the revamped EPFiGMS 2.0.

Following are some of the important features:

• • The EPFiGMS provides options to PF members, EPS Pensioners, Employers and others to lodge their grievances.
  • The UAN-based online grievances / complaints may be launched through OTP verification.
  • Integration of UAN with the master database of EPFO helps in identification of EPF office for redress of grievance.
  • It facilitates lodging of grievances for multiple PF numbers available in UAN.
  • It facilitates validation/integration of PPO number of EPS pensioners with centralised data base of EPFO.
  • The complaints may view the current status of the grievances lodged and may send reminders for pending grievances or provide feedback on redress of grievance.
  • It facilitates identification of grievance prone areas through comprehensive categorisation of grievances
  • More than one supporting document may be uploaded by the complaints.
  • Once a grievance is registered, the EPFiGMS system generates a unique registration number and auto generates acknowledgement, which are sent to the complaint through SMS & email.
  • The revamped EPFiGMS makes lodging grievances through the bilingual interface easy and redressals faster.

The post Unable to withdraw or transfer PF money? Here is how to lodge your grievances first appeared on Rightsofemployees.com.

Here is how to register a PF related complain online:

1) Visit EPFO’s website epfigms.gov.in. Click on “Register Grievance” on the top menu bar.

2) A new page will open. Please select the appropriate status from the drop-down menu.

3) Enter details like PF number, name of the office to which the grievance pertains, name of your company and address of your company.

4) Now enter your personal details like name, address, mobile number and email id.

5) In the third section, select the category of complain from the drop-down menu and describe your grievance within 5000 characters.

6) You can also attach PDF documents relating to your grievance. Enter the captcha shown on the screen and submit your grievance.

7) On successful submission of your complaint, a registration number will be generated. Record the registration number for future reference.

The post Delay In PF Claim: How To File A Complaint With EPFO first appeared on Rightsofemployees.com.

Where to access PF statement from
At the end of the financial year, the employer shares the PF statement with the employees after receiving them from the Employees’ Provident Fund Organisation (EPFO). Even employees of un-exempted organisations can view it by accessing www.epfindia.com or by clicking here. For employees of exempted organisations, the PF statement is made available by the employer generally though the company’s Intranet. The provident fund for the former is managed by a private trust while the latter is managed by the EPFO itself.

Here are few important things that are shown in a PF statement:

Basic details: The PF statement carries the name and address of the establishment along with the establishment ID. You will also find details such as the name of the employee, date of birth, date of joining the organisation, and so on.

PF Account number: The first thing to check on your PF statement is your PF number. For an un-exempted organisation, the PF number is an alphanumeric representing the state, regional office, establishment, and the PF member code. The PF account number is represented differently for exempted organisation and is completely numeric.

Here’s a sample PF number (un-exempted organisation) and what it shows:
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Sample PF number: MH BAN 0057885 000 0000691

* MH represents the state, i.e., Maharashtra

* BAN represents the regional office, i.e., Bandra

* The next 7 numbers, i.e., 0057885 represents the establishment ID

* The next 3 numbers are establishment extension ID. It can be 000 if no extension is provided.

* The last 7 numbers, i.e., 0000691 represents the member (employee) ID.

UAN number: Unlike the PF account number that is generated every time the employee joins a new organisation, universal account number (UAN) is a unique 12 digit number and is mandatory for all employees to have it. All PF numbers, i.e., member IDs will get linked to the UAN. On switching jobs, furnish the UAN to your new employer which helps in managing the PF account better.

Opening balance: The statement will show the opening balance under both the employee – employer columns. The opening balance represents the total of contributions (employee and employer columns) plus the interest earned in the previous financial year.

Monthly contributions: The PF statement/passbook will show the break-up of employee’s and the employer’s month-wise contribution in rupees. The portion that goes towards EPS (Employees’ Pension Scheme) is also shown separately. Even though both employee and employer contribute 12 percent equally, the contributions are not same. Click
here to know why.

Voluntary Provident Fund: An employee is allowed to contribute more than the mandatory 12 percent towards PF, which is shown under the ‘Voluntary Provident Fund’ column. The employee’s voluntary contributions are shown separately. Remember, the employer is not supposed to match VPF contribution and thus may show no figure.

Interest: The interest earned on the employee’s and the employer’s contributions are credited to the PF account once a year. The interest earned is calculated on the monthly running balances in the account. The PF statement will carry the interest rate on which the calculations are based upon as declared by the government.

Withdrawals: Any withdrawals that you have made during the year will also be shown and accounted for accordingly. Click here to know, under which circumstances one can ask for an advance from the EPFO.

Closing balance: The closing balance will represent the total of employee contributions plus interest earned and the total of employer contributions plus interest earned. Such balances will become the opening balance for the next financial year.

epf withdrwal rules

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