Listen up. We’re talking about PF employees across the country—the numbers are going up every year. All those private companies? They set up these PF accounts, and the whole thing is monitored by the Employees’ Provident Fund Organisation, the EPFO. The thing is, the Central Government hands out interest every single year. And they’re about to talk interest rates again. Soon.

This time, there’s heavy chatter. We’re hearing interest rates could go up to 9.25%. Seriously, 9.25%. There are all sorts of discussions behind closed doors about the numbers. But if that 9.25% is approved for PF employees? A substantial chunk of money could land in their accounts. It all depends on how much you’ve already saved, of course, the size of your EPF pot. Let’s look at the numbers—the messy part—to see how much you could actually be getting.

So, What’s the Interest Tally Going to Be?

The Central Government could very well approve a 9.25% rate for the financial years 2025 and 2026. Here’s the kicker: That rate is one full percentage point higher than last year’s. That’s a massive boost for employees, or nothing makes sense. Last time around, they only transferred 8.25% interest.

Now, let’s do the math. Just for example, if an employee has a solid ₹3 lakh sitting in their PF account? You could be looking at earning up to ₹28,000 in interest. That’s a significant hit.

The interest calculation is pretty straightforward: it’s based on your total EPF balance. More money in there? More interest, obviously. Less money? Less interest. Simple. Let’s be real, nobody has officially announced the final number yet. It’s still a rumor, but a strong one. The government is expected to open its coffers and make the announcement sometime during the general budget session. X happened (the rumor started). And then Y followed (we started running the numbers).

Who Benefits? And How to Check

A massive, massive number of PF employees are going to benefit from this interest announcement. According to one report, we’re talking about more than 75 million employees. That’s crazy. This money, this “significant gift,” as they call it, is transferred directly to your EPF accounts.

The process is ongoing, but you can check what you’ve earned right from your sofa. You don’t need to panic about checking the balance. If your mobile number is linked to your UAN, you can get the info easy, simple method.

You literally just need to give a missed call to 011-22901406. A few seconds later? The balance information hits your phone via SMS. No logging in, no passwords. It’s quick.

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DISCLAIMER: This content is for informational and educational purposes only and should not be considered professional financial advice. Always consult the official Employees’ Provident Fund Organisation (EPFO) website or the government’s official budget announcements for confirmed interest rates and rules. We are just giving you the field notes on the discussions currently taking place.

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Actually, PF account is opened for those who do jobs in which a fixed amount is deducted from the salary of the employee every month and deposited in your PF account and the company also deposits the same amount in the PF account of the employee.

The company also gives interest to the PF account holder on this money. At the same time, if you need money in between the job, then you can withdraw money from your PF account and you can get this money within 72 hours i.e. 3 days. So let’s know how you have to apply for PF. In the next slides you can know the way to withdraw money from PF account…

The post EPFO Claim Process: Withdraw Your PF Easily and Get Money in Just 72 Hours – Step-by-Step Guide first appeared on Rightsofemployees.com.

In such a situation, everyone assumes that the nominee will get the property of the deceased. But does this really happen? Does becoming a nominee make that person legally entitled to the property? Let’s know what the law says.

What and who is a nominee?

First of all, let us understand who is a nominee. When we open a bank account, invest in PF, LIC or mutual fund , we have to name a nominee. This means that if the account holder dies, the amount related to that account will be given to the nominee first. But this does not mean that the money or property belongs to the nominee. Actually, the nominee is only a trustee, that is, a responsible person to whom this amount is given temporarily, so that he can deliver it to the real beneficiaries.

Who is the real owner of the property?

Now the question arises- who is the real owner of the deceased’s property? The answer is- the person who is either named in the deceased’s will, or the heir decided on the basis of the succession law. For example, according to the Hindu Succession Act, 1956, after the death of the husband, his wife, son-daughter, parents etc. are his heirs. If no will is written, then the property is divided like this.

What does the law say? Know here

Indian law is quite clear on this subject. Under Section 39(7) of the Insurance Act, the insurance company is liable to pay the sum insured to the person who has been legally appointed as the nominee. But this does not mean that the sum becomes the property of the nominee himself. In fact, the nominee holds the sum as a trustee for the legal heirs of the deceased.

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This interest rate has been kept the same as the previous financial year. In February, the Employees’ Provident Fund Organization (EPFO) had announced to retain the interest rate on Employees’ Provident Fund deposits at 8.25 per cent for FY 2025.

This decision was taken by the Central Board of Trustees of EPFO ​​in a meeting in the national capital. The Finance Ministry has now approved the interest rate of 8.25 percent on employees’ PF for the financial year 2025. According to reliable sources, a notification has also been sent to the retirement fund body by the Labor Ministry this week.

The interest rate on EPF for 2024-25 will be credited to the accounts of EPFO ​​members. The EPFO ​​had earlier increased the interest rate on EPF for its 7 crore members from 8.15 per cent in 2022-23 to 8.25 per cent for 2023-24.

Meanwhile, the EPFO ​​added 14.58 lakh net members in March and recorded a growth of 1.15 per cent in net payroll additions as compared to March 2024. The PF organisation enrolled around 7.54 lakh new subscribers in March 2025, showing a growth of 2.03 per cent as compared to February and 0.98 per cent year-on-year as compared to March 2024.

According to the Ministry of Labour, the growth of new subscribers can be attributed to increasing employment opportunities, growing awareness about employee benefits and successful outreach programmes of EPFO. An important aspect of the data is the dominance of the 18-25 age group, as 4.45 lakh new subscribers were added in the 18-25 age group, which is 58.94 per cent of the total new subscribers added in March 2025.

Further, the net payroll addition for the 18-25 age group stood at around 6.68 lakh in March, registering a growth of 6.49 per cent over the previous year in March 2024.

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Let us tell you that when partial PF withdrawal is to be made from EPFO, the employees have to fill Form No. 31. Along with this, the employee has to fulfill some important conditions. This is being explained below.

Necessary condition for withdrawing PF

• To withdraw PF from EPFO, your UAN number must be active. Along with this, the mobile number you have linked should also be active. Only after this you can withdraw PF from EPFO.
• To withdraw PF, your Aadhar card must be seeded in the database of EPFO ​​account, because when you submit Form 31 for PF, UIDAI sends OTP for eKYC. When you complete e-KYC, only then your PF is processed further.
• Member’s bank account with IFSC code should be seeded in EPFO ​​database
• If a member’s service period is less than 5 years, he should enter the PAN number in the EPFO ​​database in PF final settlement claims
• Additionally, the joining date of the member should be available in the EPFO ​​database

When can you withdraw PF

• When customer has a housing loan / purchase of site / house / flat or construction / addition
• Factory lockout or closure
• When a member or family member is sick
• Marriage of self/son/daughter/brother/sister
• Post-matric education of children
• When there is a natural disaster
• Power outage at the establishment
• Purchase of equipment by the physically challenged

Additionally, one can also choose to invest in Partial Debt (when age is above 54 years) and Senior Pension Insurance Scheme (when age is above 55 years) one year before retirement.

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But many times it happens that there is a lot of difficulty in withdrawing PF money at the time of need. Today, through this news, we are going to tell you how you can withdraw PF money on time without any hassle.

Keep your KYC updated

According to EPFO, withdrawing PF money is very easy. Just fill the correct form and keep your KYC updated and you will get the money within 7 to 15 days. But sometimes this process is not so easy and you have to wait for months to withdraw the money. Just because of one small mistake of yours.

Why is there a delay?

According to Para 69 of EPF Scheme 1952, funds should be received on time if all documents are correct. But in reality many people have to wait for months. The reason behind this is that even a minor mistake in Aadhaar, PAN, bank account or employer’s records can stop the entire process. According to media reports, if there is a mistake in Aadhaar, bank details or exit date, then the claim process does not proceed. The biggest problem is that the employer has just updated the exit date on the EPFO ​​portal.

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Secretary of the Ministry of Labor and Employment, Sumita Dawra, has approved this proposal, which has been sent to the Central Board of Trustees (CBT) for final decision.

You can make a claim from home without any document

EPFO has provided Auto Settlement of Advance Claim facility to withdraw Provident Fund money as soon as possible in case of emergency. This is a kind of automated software system, under which you can claim to withdraw money without any document. If the KYC of your account with EPFO ​​has been updated, then the amount will be credited to your account within a few days of your online claim. Know what is the process to claim it from home?

How to withdraw PF amount from home through auto claim

To withdraw PF money from home, you can use the Auto Settlement of Advance Claim facility. Through this, you can easily get your money by following some steps. Let’s know its complete process.

Step 1- To withdraw money from PF account, first of all you have to visit the official website of EPFO ​​https://www.epfindia.gov.in.

Step 2- After this, log in by submitting your UAN number and password.

Step 3- Now after verifying your account you have to click on Proceed for Online Claim.

Step 4- On clicking this, you will have to select Advance Form 19 and fill in the required information in it.

Step 5- After this, verify your account number and submit the form. Once the process is completed, the requested amount will be automatically credited to your account within a few days.

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The Employees Provident Fund Organization (EPFO) takes full care of the facilities of PF customers. A special service related to this can be started, which will benefit crores of PF customers of the country. Now PF customers will be able to claim PF through Unified Payments Interface (UPI).

The new system of EPFO ​​will allow fund transfer to the linked UPI ID of PF customers. According to reports, EPFO ​​has already prepared a blueprint for UPI integration and is expected to implement this facility within the next 2 to 3 months.

According to reports, EPFO ​​is in discussion with the National Payments Corporation of India (NPCI) to integrate PF withdrawal with the UPI platform. With this, PF customers can get their PF amount instantly from digital payment apps like PhonePe, GooglePay, Paytm and Bhim App.

You will be able to withdraw your PF through ATM card

Apart from UPI transactions, EPFO ​​is also working on enabling PF withdrawal from ATMs.

Who gave the information

In an interview with news agency ANI, Labor Secretary Sumita Dawra has revealed information related to this. Sumita Dawra said that EPFO ​​subscribers will be able to withdraw their PF through ATM by 2025. Along with this, she said that the Ministry of Labor is in the process of upgrading the entire IT services. This will help employees across India registered with EPFO.

According to a report, this system will be implemented across India in May or June next year. It is being said that the central government can remove the limit of 12% on employee contribution to PF. Employees can be given the option to contribute according to their savings and employees will be allowed to deposit an amount above the limit at any time.

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With the new year, there will be many major changes related to personal finance and banking. Things that will change from January 1, 2025 include LPG prices, new facilities for UPI users and new facilities for EPFO ​​members. It is important for you to know about these changes that will take place from January 1, 2025, because not being aware of these changes can lead to missing important deadlines, due to which you may be deprived of the benefits of some schemes.

Let’s know what changes are going to happen in the banking sector to the personal finance segment and which changes will directly impact you…

LPG price changes:

The government changes the prices of LPG cylinders at the beginning of every month and in the last few days, there has been a fluctuation in the prices of 19 kg commercial LPG cylinders. The price of 14 kg subsidized cooking gas cylinders has been stable for a long time. It is expected that there will be a change in the prices of LPG cylinders at the beginning of the new year.

ATM facility for EPFO ​​members

Over 7 crore employees registered with EPFO ​​may get a special gift on New Year. It is possible that the central government may issue ATM cards to withdraw money from EPFO ​​like regular debit cards. According to a senior official of the Union Ministry of Labour and Employment, in a statement, the government is in the process of enhancing its IT systems to provide better services to the employees of the country.

UPI limit to be increased for feature phones

The Reserve Bank of India (RBI) has recently extended the UPI facility for feature phones that do not have internet connectivity. The UPI 123Pay facility enables feature phone users to make payments up to Rs 5,000 through UPI, but now this limit has been increased to Rs 10,000 and this change will be effective from January 1, 2025.

Changes in Fixed Deposits

RBI has changed the fixed deposit rules for non-banking financial companies and housing finance firms. The new FD rules will be applicable from January 2025.

Sensex, Bankex, Sensex 50 Monthly Contract Expiration Date

The expiration date of Sensex, Bankex and Sensex 50 index derivative contracts will be changed from January 1, 2025. According to the BSE announcement on November 28, the Sensex weekly contracts will expire every Tuesday from Friday from January 1, 2025.

UPI payments

can be made through wallets or other PPIs through UPI from January 1, 2025. Apart from this, Indians who want to apply for visas for countries like Thailand, America, Britain etc. should be aware of the new rules. Because a lot is going to change in this too from January 1, 2025.

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The post LPG, PF, UPI and… Big changes are going to be implemented from January 1, know in detail first appeared on Rightsofemployees.com.

The Labor Ministry is upgrading its IT systems to provide better service to the country’s large workforce. The Labor Secretary said, ‘We are settling the claims filed by the members immediately and simplifying the process to improve ease of living. Now a beneficiary making a claim can get his claim amount directly from the ATM. This will minimize human intervention and make the process easier.’

Big changes will be seen in the new year

The Labor Secretary said in a conversation with a news agency, ‘Systems are constantly being upgraded. Every 2 to 3 months you will see significant improvements. I believe that a big change will be seen from January 2025. When we will have IT 2.1 version in EPFO. ‘ He said that our goal is to bring the IT infrastructure of EPFO ​​to the same level as our banking system. EPFO ​​i.e. Employees Provident Fund Organization has about 7 crore active contributors. The Labor Secretary also praised the government’s efforts towards improving EPFO ​​services to increase the ease of living.

Gig workers will get these benefits

Regarding the plans to provide social security benefits to gig workers, the Labor Secretary said that progress in this regard is in an advanced stage, but he refrained from giving any timeline. He said, ‘A lot of work has been done and we have outlined a plan, which will now be finalized. These benefits may include medical health coverage, PF and financial assistance in case of disability.’ A committee with representatives of various stakeholders has been formed to propose a framework for providing social security and welfare benefits to gig and platform workers. Gig and platform workers were first defined in the Social Security Code of 2020.

Unemployment has gone down

On the issue of unemployment, the Labor Secretary said that the unemployment rate has declined. He said, ‘The unemployment rate was 6 percent in 2017. Today it has come down to 3.2 percent. Apart from this, our workforce is increasing. The participation rate of the work force is increasing. The worker participation ratio shows how many people are actually employed.

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All the employed people in India have PF accounts. 12 percent of the salary is deposited in the PF account. The employer i.e. the company also contributes 12 percent to this PF account. PF account works like a savings scheme. You also get interest on the amount deposited in it. Along with this, when you need money for any work, you can also withdraw money from the PF account.

The PF accounts of employed people are managed by EPFO. While a part of the PF account is deposited as savings, a part of it is deposited for pension. Which is called EPS i.e. Employee Pension Scheme. Many times people have this question in their minds regarding PF accounts that whether money can be deposited separately in this account. If you also have this question in your mind then let us tell you that you can deposit money separately in a PF account.

However, for this you will have to talk to the HR of your company. If you get approval from there, then you can make a separate contribution to your account. But you will have to get the same amount deducted from your salary. But where a part of the employee’s salary is deposited in a normal PF account, the same amount is also deposited by the employer i.e. the company. However, if you want to deposit money in a separate PF account, then no contribution will be made by the company in it.

Apart from this, you will also have to take permission from the Regional Provident Fund Commissioner to deposit money separately in the PF account. According to the rules, you can contribute up to Rs 15,000 separately in the PF account.

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This is especially helpful for those who are planning to buy their dream house. Let us understand what conditions are necessary to be followed for withdrawing money from PF and how much money can be withdrawn.

Rules for withdrawing money from PF to buy a house

Under the rules of EPFO, PF account holders can make partial withdrawals to buy a house, build a house or repair it. But some conditions have been fixed for this.

To withdraw money from PF, it is necessary that you have completed at least 5 years as a member of EPFO.

• If you are buying a plot or a house, you can withdraw 24 times your monthly salary
• (including DA) or the total amount deposited in the account, whichever is less.
• This limit for building or buying a house can be up to 36 times the monthly salary.
• Up to 12 times the monthly salary can be withdrawn for house repairs.

Who can avail this facility?

If you are doing a government or private job and have been contributing to the EPF account for 5 consecutive years, then you can avail this facility. Keep in mind that this withdrawal is completely purpose based, like buying a house, constructing a house or repairing it.

How to apply for withdrawal of money from PF?

To withdraw money from EPF, you have to apply online. You can fill Form-31 through EPFO’s official website or UMANG app. At the time of application, you will have to provide proof of purchase or construction of property, such as agreement copy or documents related to the builder.

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After this, you get interest on the deposited amount on an annual basis, but do you know that PF account holders can easily withdraw the amount deposited in their account if needed? If you are buying a new house, then you can withdraw PF money, but what will you have to do for this?

What is the necessary condition for this?

EPFO members can withdraw money in advance from PF fund to buy property. However, those EPF members who have completed 5 years of their membership will get this benefit. Along with this, there should be at least one thousand rupees including interest in the account. Money can be withdrawn from the account under this advance.

If you are buying a new house or land, you can get 24 months’ salary including DA or total amount deposited in EPF account including interest and actual value of the plant, whichever is less.

If you meet these conditions, then…

Let us tell you that if you have been working for 5 years and have been contributing to the EPFO ​​account for five consecutive years, then you can make partial withdrawal from EPFO ​​with some conditions. If you want to withdraw money from PF to buy a plot or house, then you can withdraw up to 24 times the monthly salary and up to 36 times the monthly salary for both buying and building a house.

If you want to repair your house, then you can withdraw an amount equal to 12 times your monthly salary. Apart from this, you can also withdraw the contribution and interest amount of both you and your employer.

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The company contributes as much to your PF as you put in PF, on which the government also pays interest. The Employees’ Provident Fund Organization (EPFO) accounts for the PF of employees. According to the latest report, the number of members contributing to EPFO ​​​​in the financial year 2023-24 has increased by 7.6 percent, which has increased to 7.37 crores. In the financial year 2022-23, the number of EPFO ​​​​shareholders was 6.85 crores. At the same time, the number of contributing institutions has increased by 6.6 percent to 7.66 lakhs.

What is the meaning of these figures

According to these figures released by the Ministry of Labor, the number of people contributing to EPFO ​​has increased by 7.6 percent in the financial year 2023-24. These figures show that the number of employment and businesses in the formal sector is increasing in India, which provides a better standard of living to the employees.

Settlement of EPFO ​​claims

Recovery of EPFO ​​dues also saw a growth of 55.4 per cent, rising to Rs 5,268 crore from Rs 3,390 crore last year. The number of claims settled has also increased by 7.8 per cent from 4.12 crore to 4.45 crore compared to last year.

Draft Compassionate Appointment Policy, 2024 also discussed

The Executive Committee also discussed the draft of the new Compassionate Appointment Policy, 2024, which aims to provide relief to the dependents and children of many EPFO ​​​​employees who unfortunately died during service, many of whom died during the Kovid epidemic. Apart from this, the Executive Committee discussed IT, administrative, financial and other related aspects for better governance in EPFO. The government is working on bringing a new centralized pension payment system for EPS pension payments.

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The subscribers are now eligible to withdraw up to Rs 1 lakh at a time, a raise from the earlier limit of Rs 50,000.

The government has made a big change in the rules of EPF. The government has increased the limit of withdrawing cash from EPF at one time so that people can easily withdraw money. Now you can withdraw more money from your PF account during an emergency (EPF Bank Account Update). Now you can withdraw up to one lakh rupees instead of Rs 50,000. Labor Minister Mansukh Mandaviya gave this information on Tuesday.

He said that this change will be a relief for those who need to withdraw money from their PF account for marriage, treatment or other necessary expenses.

You will be able to easily withdraw more money from your PF

Many times people need money suddenly, like for an illness or for building a house. That is why the Employees Provident Fund Organization (EPFO) has taken this decision. Now you will easily get money from EPFO ​​when you need more money. Earlier you could withdraw only up to Rs 50,000. But now you can withdraw up to one lakh rupees. Now you will not have to wait long to withdraw more money from your PF (PF Account Balance withdrawal) in case of an emergency.

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Facility to withdraw money from PF within the first six months of job

Apart from this, the government has made another important change. Now you can withdraw money from your PF even within the first six months of joining the job. Earlier this rule was not there. These changes can be very beneficial for you.

Some companies may run private retirement plans

The government has made another important change. Now some companies which are not part of the EPF can join this state-run retirement fund manager. Some companies can run their own private retirement plans as they are exempted because these funds were set up before the EPF was set up in 1954.

The Labour Minister said, “There are 17 companies which have a total of 100,000 employees and a corpus of Rs 1,000 crore. If they want to join EPF instead of their own fund, they will be allowed to do so. Government PF savings give better and stable returns.”

EPF (PF Balance Check) i.e. Employee Provident Fund secures the future of millions of employees. It provides retirement pension to crores of employees working in the organized sector. For many employees, it is the main source of lifetime savings. For this financial year 2024, the interest rate of EPF (EPF Interest Rate 2024) has been fixed at 8.25%.

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The Employees’ Provident Fund Organization (EPFO) has reduced the penal charge on employers who default or delay in depositing their employees’ Provident Fund, pension and insurance contributions. Earlier, this charge on employers was the highest at 25 per cent per annum. But now it has been reduced to 1 per cent of the outstanding amount per month or 12 per cent annually. This is a big relief for employers from the EPFO.

In a notification issued by the Labour Ministry on Saturday, it was said that the penalty will be recovered from the employer at the rate of 1 per cent of the outstanding contribution per month or 12 per cent per annum in three schemes – Employees’ Pension Scheme (EPS), Employees’ Provident Fund (EPF) Scheme and Employees’ Deposit Linked Insurance Scheme (EDLI) under the EPFO.

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How much was the penalty till now?

Talking about the penalty, till now the penalty was 5% per annum for a default of up to two months, 10% for more than two and less than four months. Apart from this, there was a penalty of 15% for more than 4 months and less than 6 months. On the other hand, a penalty of up to 25% per annum was imposed for a default of 6 months or more. Now the new penalty rule will be applicable from the date of notification.

What will be the impact on the employer?

According to this new rule, now the employer will have to pay less penalty. Also, in case of default of 2 months or 4 months, the penalty amount will have to be paid at the rate of 1% every month. This means that the penalty amount for the employer has been reduced by more than double.

Let us tell you that according to the rules, currently it is mandatory for the employer to file the return of the previous month with EPFO ​​on or before the 15th of every month. If this is not done, then any kind of delay after this will be considered as default and penalty will be applicable.

The post EPFO changed the rules regarding pension, PF and insurance scheme. Details here first appeared on Rightsofemployees.com.

Apart from this, EPFO ​​member can withdraw the entire amount from his PF account after retirement. Meanwhile, EPFO ​​member can also apply for partial withdrawal from his PF account in various situations.

These situations are as follows:

own or child’s marriage

Medical needs

To buy a house

To repay a home loan

To renovate a house

Note that for most of these partial withdrawals, the member must have been an EPF member for a minimum of five or seven years. If you change jobs, your EPF passbook balance will be automatically transferred to the new employer.

Withdraw money from your PF account online like this

First of all, you need to ensure that you have four details – Universal Account Number (UAN), member’s bank account number, ID proof and a canceled cheque.

• Now you have to go to the UAN portal and enter your UAN number and password.
• Now you will get an OTP on your mobile number linked to Aadhaar. Enter this OTP and captcha.
• Now your profile page will open. On the top right side of the web page you will find the option “Online Services”. Now click on ‘Claim’ from the scroll down options.
• Now you have to verify the member details by entering the bank account number linked to EPFO.
• You will then receive a Certificate of Undertaking stating that the claimed amount will be credited to this bank account by EPFO. Now you have to click on ‘Yes’ to the terms and conditions.
• Now you can proceed for online claim. As soon as you click on this option, a section will open in which you will have to enter more details.
• Here you have to provide your address and also upload some documents like scanned check and Form 15G.
• In this way, claim will be submitted to withdraw the balance of EPF account.

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New Delhi. Employees’ Provident Fund Organization (EPFO) was established to improve the retirement of private sector employees. To raise retirement fund for employees, every month the company and the employee deposit equal amount in PF (Provident Fund). The government also pays annual interest on this. At present the interest rate in PF is 8.15 percent.

As we told, this amount deposited in EPF is a retirement fund but it can be withdrawn if needed. The government has made some rules to withdraw funds for every need. If you are also planning to withdraw from PF, then today we will tell you how much money can be withdrawn from which item.

When and how much money can be withdrawn from PF?

• Employees can withdraw full or partial withdrawal of funds from PF fund simultaneously. Some rules have been made for this.
• Rules for withdrawing full money from PF
• When the employee retires, the entire amount can be withdrawn at once.
• If the employee is unemployed for a month or more, he can withdraw 75 percent of the PF amount. He can withdraw the remaining 25 percent amount in the next two months in case of unemployment.

Rules for partial fund withdrawal

Employees can use partial funds to meet their emergency needs. The government has made some rules regarding how much amount can be withdrawn for different needs.

For treatment: If you want to withdraw PF funds for medical emergency, then you can withdraw six times the basic salary or the total amount deposited and interest amount in the employee’s share in PF, whichever is less. Are. From this item, the employee can withdraw the amount for the treatment of himself, children, spouse and parents.

For marriage: If you are withdrawing money from PF for marriage, then it is necessary to have 7 years of service for this. The employee can withdraw money for the marriage of himself, his son or daughter, brother or sister. Talking about the amount, the employee can withdraw only 50 percent of his share of the total deposit.

For education: The account holder can withdraw only 50 percent of the employee’s share in PF for his or her children’s education. Along with this, it is mandatory for him to have 7 years of service.

For buying land and buying or building a house: If you are withdrawing PF money for building a house, then it is necessary to have five years of service for this. To buy land, an employee can withdraw up to 24 times his basic and dearness allowance from PF. At the same time, to buy a house, employees can withdraw 36 times the amount of basic and dearness allowance.

Along with this, there are some other conditions, in which the house or land should be in the name of the employee or in the joint name of the husband and wife. Money can be withdrawn only once during the entire service to purchase land or house. After the money is withdrawn, the construction of the house should start within 6 months and the construction should be completed within 12 months.

For home loan repayment: Money can also be withdrawn from PF fund to repay home loan. For this it is necessary to have ten years of service. For this, employees can withdraw 36 times their basic and dearness allowance. Along with this, the total amount deposited in PF can also be withdrawn. Or the employee can withdraw an amount equal to the total outstanding principal and interest of the home loan.

If you are withdrawing money for home loan repayment, then this home loan should be in the name of the employee or both the husband and wife. The total amount in the employee’s account should be more than Rs 20 thousand. Along with this, the employee will have to submit home loan related documents to EPFO.

Home Renovation: Employees can also withdraw PF money for house renovation. For this, he can withdraw 12 times his basic and dearness allowance. Along with this, you can withdraw the total cost or the employee’s share and interest deposited in PF. This property should be in the name of the employee or in the name of both husband and wife. To get the money for this item, it is necessary that the house has been built for five years.

Partial withdrawal before retirement: If the employee has completed 58 years of age, then he can withdraw 90 percent of the total amount deposited in PF one year before retirement.

DDA Housing Scheme: Opportunity to buy a house at 15 percent less than the market price, apply today

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How to change nominee in PF account

step1
For this, first of all you have to go to the official website of EPFO.
After this you have to go to the service call and click on the employees option in this section.
After this you have to go to the Manage section and enter your UAN number. After this you have to login by entering your password and then click on e-enrolment under management.

Step 2
After this you have to click on Yes option to update your family declaration. Select the option to add family details and you can add one more nominee here.

Step 3
After this, click on the nomination details and click on the Save EPF Nomination option, after this select the e-sign option and then fill the OTP received on the mobile number linked to the Aadhar card and submit. Your nominee will be changed.

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The Central Government has now changed the rules for some members. They will no longer get the benefits of PF, Gratuity and Pension. This amendment has been made in Rule 13. The government has said that these members will no longer be considered eligible for pension and PF (Provident Fund) as they cannot avail two services at the same time.

Now these people will not get the benefits of PF, Gratuity and Pension-

According to the instructions issued by the Central Government, the benefits of gratuity, pension and PF will not be given to the members of Income Tax Appellate Tribunal (ITAT) and Goods and Services Tax (GST) Tribunal. Additionally, tribunal membership will be placed in the full-time employed category, which means they will have to resign from one of the services.

Know the reason why you will not get benefit-

Earlier, serving judges of the High Court or the Supreme Court were sometimes appointed as chairpersons or members while still in their existing service. Hence they were entitled to pension and other benefits, but now if a serving judge of any court is appointed as the Chairman or Member of the Tribunal, he will have to either resign or resign voluntarily from his substantive service before joining the Tribunal. Will have to take retirement. These people cannot take advantage of both at the same time.

Lawyers were excluded from profits

The revised tribunal rules say the change comes at a time when the Center is in the process of setting up a GST Appellate Tribunal for expeditious disposal of pending tax cases and litigation. Earlier, the government had excluded lawyers from becoming judicial members.

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Regarding changes in the rules of Labor Code, the government has taken many decisions on new rules regarding working hours, annual leave, pension, PF, take home salary, retirement etc. between the Labor Ministry, Labor Union and representatives of the industry and some Still left. In this, there was a demand to increase the Earned Leave of the employees from 240 to 300. This time it is expected that there may be some talk regarding this in the budget.

Earned leaves will increase

People associated with labor unions want the limit of earned leave to be increased from 240 to 300 days. New laws related to labor reforms were passed by the Parliament in September 2020. Now the Central Government is trying to implement these as soon as possible. Although the government wants to implement these as soon as possible but has not been able to do so. Now this time it is expected that the government can announce something in this regard in the budget.

These changes will happen

According to the rules of Labor Code, basic salary should be 50% or more of the total salary. This will change the salary structure of most employees. If basic salary increases, the amount deducted in PF and gratuity will increase. This will reduce the salary in hand. However, PF may increase.

Budget will be presented on 1 February

Union Finance Minister Nirmala Sitharaman will present the budget (Union Budget 2024) for the sixth time on 1 February 2024. Nirmala Sitharaman is going to present the last budget of the second term of the Modi government because after that Lok Sabha elections are going to be held across the country. In such a situation, the government can make a special announcement to capitalize on its vote bank, especially the employed people.

The government can make an announcement regarding bringing labor laws in the budget. The government has been planning to implement the labor law across the country for a long time, but due to lack of consensus among the states, there is a delay in implementing the law. However, Finance Minister Nirmala Sitharaman has said that no major announcements will be made in the budget but the government can make some special announcements for its vote bank.

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According to the website of Employees’ Provident Fund Organization (EPFO), it is mandatory to file nomination by members as per Para 33, 34 and 61 of the EPF Scheme, 1952. Nomination is also required while submitting online death claim (Form 10-D, 20 and 5-IF). During the service time of the EPF member, the member can file and update e-nomination any number of times.

Note that employer approval is not required to change nomination details, members can use Aadhaar based e-sign to file nomination. Nomination cannot be changed after the death of the EPF member.

According to the information shared by EPFO on its official Its settlement can be done online without any hassle. Along with this, account holders get the convenience of availing the benefits of schemes like Employee Pension Scheme (EPS), Employee Deposit Linked Insurance Scheme (EDLI) and PF withdrawal. Benefits of all these schemes can be availed online after completion of nomination.

Choose the process of filing an e-nomination for speedy claim settlement.#epfo #epfowithyou #HumHaiNa #SocialSecurity #nomination #claims #पीएफ #ईपीएफ pic.twitter.com/mxQiQRPuJo

— EPFO (@socialepfo) December 28, 2023

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Every person needs money. Many times we have to take the help of loan for this. If you work in the formal sector, your PF is deposited every month. Many facilities are provided to PF members by EPFO, of which advance at the time of need is also one of them. However, some rules have been fixed for this, according to which you can withdraw advance from PF account. In this article we will know when and how much money you can withdraw from PF.

Rules for withdrawing money from PF 

From PF, you can withdraw money for buying land for the house, renovating the house, home loan, marriage of a family member or yourself, children’s education, loss of job, treatment of yourself or a family member. Let us know its rules.

• If any member of the family or yourself is admitted in the hospital for more than a month or has to undergo any serious illness or surgery. Then you can withdraw money equal to six months’ salary from your PF account. 
• Even if there is a marriage of a family member or oneself, money can be withdrawn from PF. However, the condition for this is that you must have completed 7 years in the job. You can withdraw money from PF only up to 50 percent of your contribution. 
• The facility to withdraw money from PF is given even after leaving the job. If for some reason your company is closed for more than 15 days or you have not gone to work for more than two months, then you can withdraw your entire share deposited in PF. 
• You can also withdraw advance from PF to buy a house. This advance can be maximum equal to your 36 months salary. The condition for this is that 5 years of service should be completed. 
• You can also withdraw money from PF to buy land for building a house and for repairing the house. This facility is available after five years of starting the job. You can withdraw money equal to 24 months’ salary to buy land to build a house and 12 months’ salary to refurbish the house. 
• To repay the home loan, you can withdraw money equal to 36 months’ salary. However, for this you must have completed 10 years in the job. 
• Advance can be withdrawn from PF to complete one’s own and children’s education. For this you should have completed 7 years of service. In this, you cannot withdraw more than 50 percent of your contribution. 

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Yes, the Finance Ministry has given its decision on the interest rate of General Provident Fund (General PF) for the October-December quarter of the financial year 2024. The interest rate of GPF has been kept unchanged at 7.1 percent by the Finance Ministry. That means, this quarter too, interest will be paid on GPF at the old rate of 7.1 percent. This interest rate will be effective from 1 October 2023 to 31 December 2023.

Only government employees can invest

Let us tell you that GPF is a social security scheme available for central employees. Government employees can become its members by contributing a fixed portion of their salary. Only government employees can invest in GPF account. There is no contribution of any kind in this from the government. The government gives only interest on this. However, this investment should not be less than 6% of the employee’s salary.

Exemption to taxpayers under Section 80C,

the maximum contribution in this can be up to 100% of the employee’s salary. The maturity of the investment made in this occurs at the time of retirement. Employees can also take loan against GPF.

In this tax saving scheme, taxpayers get exemption under Section 80C. On the other hand, the government has not changed the interest rate of PPF for the October to December quarter. This also remains at the old level of 7.1 percent.

Recently, the government had changed the interest rate of 5 year RD scheme in small saving schemes for the October quarter. The Finance Ministry had increased its interest rate from 6.5 percent to 6.7 percent. There was no change in the interest rates available on other small savings schemes including PPF.

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Actually, if seen, PF is a kind of investment, which is very useful for us in future. PF accounts of employed people are opened by Employees Provident Fund Organization ie EPFO ​​and then a certain amount is deducted from the employee’s salary every month and deposited in these accounts and EPFO ​​also pays annual interest on this money. At the same time, you can also withdraw this money in the middle of the job or after leaving the job.

But the problem with many people is that their already linked bank account with PF account gets closed. In such a situation, they are not able to withdraw PF money. If you have this problem too, then you do not have to worry because we are going to tell you how to link your new bank account with your PF account.You can learn about this in the next slides…

• If for some reason you also want to link a new bank account with your PF account, you can
• For this you have to visit the official website of EPFO ​​unifiedportal-mem.epfindia.gov.in/memberinterface/
• After visiting the website, you have to enter the UAN number, password and captcha code given on the screen, which will login your account

• After login, you will see many options here, out of which you have to click on the managed option.
• Inside this you have to choose the option of KYC 
• Then here you have to click on the bank option you see.

• After this you have to fill all the details of your bank account here.
• Like- bank account number, bank name and IFSC code etc.
• Keep in mind that check the filled information once, so that nothing goes wrong.

• Now you have to click on the submit button
• Then after submission, the process of linking your bank account is approved by the HR department of your company and once approved, your bank account is linked to the PF account.

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Now more interest will be available on PF

The Board of Employees Provident Fund Organization had fixed the interest rate of 8.15 percent on EPF Account in March for the financial year 2022-23 and sent this proposal to the Ministry of Finance for approval. Now it has been approved and members will get 0.05 percent more interest than before on PF account. Significantly, for the financial year 2021-22, EPFO ​​had fixed the interest rate for EPF Account at 8.10 percent.

This is the lowest interest rate in almost 40 years. In 1977-78, the EPFO ​​had fixed an interest rate of 8 per cent. But since then it has been continuously at 8.25 per cent or more. In the financial year 2018-19, 8.65 percent, 8.55 percent in 2017-18, 8.65 percent in 2016-17 and 8.8 percent interest was available in the financial year 2015-16.

This is how PF is deducted from salary If

you look at the EPFO ​​Act, 12 percent of the base pay and DA of any employee is deposited in the PF account. On this, the concerned company also deposits the same amount i.e. 12% in the PF account of the employee. However, out of the contribution made by the company, 3.67 per cent goes to the EPF account, while the remaining 8.33 per cent goes to the Pension Scheme.

How much will the account holders benefit?

Now let’s talk about the maths of PF, then tell that if you have a total deposit of Rs 10 lakh in your PF account till March 31, 2023, then till now you used to get Rs 81,000 as interest at the rate of 8.10 per cent. On the other hand, now that the government has increased the PF interest rate to 8.15 percent, then according to this, the amount of interest on Rs 10 lakh deposited in the account will increase to Rs 81,500. That is, you will get a direct profit of Rs 500 on a deposit of Rs 10 lakh.

Now suppose an amount of Rs 5 lakh is deposited in the account of an employee, then according to the new interest rate, he will get an interest of Rs 40,750. Which used to be Rs 40,500 earlier, ie a profit of Rs 250. On the other hand, an employee with a deposit of Rs 3 lakh will get an interest of Rs 24,450.

Significantly, in a notification issued by the Employees’ Provident Fund Organization (EPFO), it has been said that the Ministry of Labor and Employment, Government of India, has given approval under Para 60 (1) of the Employees’ Provident Fund Scheme, 1952, to deposit interest in the account of each member of the EPF scheme for the year 2022-23.

Check balance easily sitting at home

You can check the current balance of your PF account in easy ways sitting at home. Many options have been given for this. You can find out through the Umang app, website or by sending an SMS from your mobile phone. You can check your balance by following these easy steps.

• Go to the official website of EPFO ​​(www.epfindia.gov.in).
• After this click on the E-PassBook option.
• On the new page, enter UAN, password and captcha code and click on login.
• After logging in, select the Member ID option to view the passbook.
• Now you will get the passbook in PDF format, which can be downloaded.
• You can also view the passbook directly by visiting https://passbook.epfindia.gov.in/.
• Now the complete information will be open in front of you.

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Along with this, the company also deposits the same amount in the PF account of its employees. At the same time, the government also pays annual interest on this money. In such a situation, the PF account holder can withdraw this money in the middle of the job or after the end of the service.

Just for this your bank account should be updated on the PF portal, but many times people’s already linked bank account gets closed due to some reasons or for other reasons they want to change their bank account. In such a situation, if you also want to change the bank account linked to your PF account, then you can do so in a very easy way. So let’s know how you can get a new bank account updated in your PF account…

• If you also want to add a new bank account to your PF account for any reason, then you can do so
• For this you have to visit the official website of EPFO ​​unifiedportal-mem.epfindia.gov.in/memberinterface

• After this, you have to login here by entering your UAN number, password and captcha code given on the screen.
• Now you will get the option of KYC on the portal, on which you have to click
• Then here you will get the option to update your bank account
• you also have to click on

• Now you have to fill the information of your new bank account here i.e. fill the information of the bank account you want to update
• After this, check the filled information properly, so that there is no mistake.

• Then when all the information is correct, click on submit
• After this your new bank account information is approved by the HR of your company
• Then as soon as HR approves, your new bank account gets linked to the PF account.

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Every establishment having 20 or more employees is covered under it and certain organizations which employ less than 20 persons are also covered subject to certain constraints and exemptions. People also get many benefits of PF account.

PF scheme

The employee and the employer contribute 12% of the basic salary and dearness allowance of each employee to the EPF. After the employer retires, he gets a lump sum amount which includes both his and the employer’s contribution apart from the interest on both. Currently the interest rate on EPF deposits is 8.15% per annum. At the same time, people should also be aware of the benefits of PF, lest some wrong steps are taken regarding PF without knowing the benefits, which may be regretted later.

PF

Employees’ Provident Fund Organization (EPFO) is a non-constitutional body that encourages employees to save money for retirement. This organization is governed through the Ministry of Labor and Employment, Government of India. The schemes offered through the organization cover Indian workers and international workers (from countries with whom EPFO ​​has signed bilateral agreements).

Benefits of the scheme

EPF scheme helps in saving money in the long run. There is no need to make lumpsum investment in this scheme. It is deducted on a monthly basis from the salary of the employee and this helps in saving a huge amount in the long run. It can help an employee financially during emergencies. It helps in saving money at the time of retirement and helps a person to maintain a good lifestyle.

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Now a new update has come on this. Labor Minister Bhupendra Yadav told CNBC Awaaz that the proposal to increase the interest rates on EPF for the year 2022-23 has been sent to the Finance Ministry. He further told that we are waiting for the green signal from the Ministry of Finance as soon as the approval is done.

If you do a job, then some part of your salary would also go to the Employees Provident Fund Organization (EPFO). 12% of your basic salary and DA goes to EPF and the same amount is also deposited by your company.

The Labor Minister says that 30 crore unorganized sector people have been registered on the e-Labour portal. This has become possible because of Jan Dhan Aadhaar and mobile revolution. In the last 9 years, there was an increase in employment of around 1.25 crore. Ensuring social security for the working class is a priority. Along with giving security to women at the working place, many facilities and benefits were given.

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If your son-daughter or brother-sister is married and you need money in emergency, then you can withdraw money from PF account. However, there are some rules for this, which need to be fulfilled.

How much money can be withdrawn from PF?

Any person can withdraw advance money from PF account for his marriage as well as for the marriage of son-daughter or brother-sister. As per EPFO ​​rules, you can withdraw 50 percent of the total amount deposited in your fund including interest. However, the most important condition for this is that it has been at least 7 years since your PF account was opened.

How many times can I withdraw money?

Advance money cannot be withdrawn more than 3 times for marriage and studies. Explain that 12% of the basic salary (basic salary) of the employee goes to the PF account. Apart from this, 8.33% of the deduction made by the employer in the employee’s salary goes to EPS (Employee Pension Scheme), while 3.67% goes to EPF. Your PF is deposited every month, but interest is earned on an annual basis.

8.15 percent interest will be available in 2022-23:

In the financial year 2022-23, the PF account holder will get interest at the rate of 8.15 percent. Interest will be transferred at the rate of 8.15 percent on the amount deposited in the account of any PF account holders. If one has Rs 1 lakh deposited in one’s PF account, then at the rate of 8.15%, you will get Rs 8,150 as annual interest. On the other hand, if Rs 10 lakh is deposited in the PF account, then Rs 81500 will be transferred to your account as interest.

Can withdraw money online in just 72 hours?

If you want, you can also apply for money online from EPFO’s website. With this, you will not even need to go to the EPFO ​​office. Money can be withdrawn online in just 72 hours. However, to withdraw money online, it is very important to have PF account linked with Aadhaar card. Apart from this, your UAN number should also be activated only then you can withdraw money.

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For 2021-22, the government had approved 8.1 per cent, the lowest interest rate in four decades on Employees’ Provident Fund deposits. However, now it has been increased by 0.05 percent.

EPFO increased interest on EPF

Employees’ Provident Fund Organization (EPFO) has increased the interest rate by 0.05 percent to 8.15 percent for the financial year 2022-23. It was earlier 8.10 percent. This is the first increase after FY19. In March 2022, the government had fixed the EPF rate at 8.1 per cent for over 6 crore active subscribers, the lowest since 1977-78.

CBT took the decision

The decision to hike interest rates on EPF was taken by the Central Board of Trustees (CBT) of EPFO ​​in its meeting. After the support of the government, the interest rate on EPF for 2022-23 will be deposited in the accounts of more than five crore subscribers of EPFO. EPFO will give this interest rate only after its permission from the finance ministry of the government.

EPF money is received on retirement

EPF is a compulsory savings scheme under the Employees’ Provident Fund Act, 1952. It is run by the Employees Provident Fund Organization (EPFO). It covers every single office, company where 20 or more people work. The employee has to pay a fixed contribution towards the provident fund and gets the money at the time of retirement. During September 2017 to November 2021, about 4.9 crore new employees are associated with EPF.

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But do you know who and how will get the benefit of this decision of the government. Let us tell you. The decision taken by the Central Board of Trustees (CBT) will now be sent to the Finance Ministry. After this, a notification will be issued by the Ministry of Finance.

After the notification comes from the Ministry of Finance, it will be effective and then you will get the increased interest of your PF in your account. It is a matter of when the money will be received. Now let’s talk about which employees will be able to get the benefit of this.

They will get the benefit of increased interest

All 7 crore members of EPFO ​​will be able to get the increased interest. Voluntary Provident Fund i.e. VPF depositors will also be able to get the benefit of this decision.

Apart from this, the benefit of this decision of the government will also be given to such employees whose EPF accounts have been opened by the trust.

Last year, EPF kept the interest rates at 8.10 per cent, which has now been increased to 8.15 per cent. That means now you will get Rs 8150 instead of Rs 8100 interest.
This is how a retirement fund of 5 crores is prepared from EPF

If your monthly salary is Rs 50,000 and you are 30 years old. You get 12% contribution from EPF side. Apart from this, suppose that every year your salary is increasing at the rate of 10 percent. You get 8.10 percent interest from EPF on this amount (which is till now), so in this sense you will get a fund of Rs 5,04,07,319 at the time of retirement. According to this calculation, you can create a fund of 5 crores with a monthly salary of 50 thousand.

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According to the news agency PTI , after a two-day meeting of the Central Board of Trustees (CBT) of EPFO, it was decided to increase the interest rates of PF by 0.05 percent. Its interest rate was 8.10 percent in the last financial year, which has now increased to 8.15 percent. Earlier, the lowest PF interest rate was 8 percent in 1977-78.

There are not many screws left

that after the seal of the trustees of EPFO, the new interest rate will be applicable on the PF account. For this, it is also necessary to take the approval of the government. The Finance Ministry will also review the interest rate fixed for 2022-23 and only after it is approved, the way to send the interest money to the account will be clear. It is noteworthy that even the interest money for the financial year 2021-22 has not yet been received by the PF account holders.

Earlier the intention was to keep 8 percent, then…

speculations were being made that this time the interest rate on PF account is to be reduced once again to 8 percent. But the trustees felt that considering the inflation, more interest should be given to the account holders. On the first day of the meeting, the issue of higher pension was also discussed between the Union Labor Minister Bhupendra Yadav and the trustees. It was informed that EPFO ​​is completing the process of providing higher pension to eligible subscribers.

Decreasing interest since 2018-19

The interest rate on PF is continuously decreasing since the financial year 2018-19. In the last financial year, the government had saved Rs 450 crore by reducing the interest rate to 8.10 per cent. In such a situation, it seemed that this year also the interest rate would remain the same or it would be reduced to 8 percent. In 2018-19, the interest on PF was 8.65 per cent, which was reduced to 8.50 per cent in 2019-20. The interest rate was the same in 2020-21 as well, whereas in 2021-22 it was reduced to 8.10 per cent.

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Less TDS will be deducted on withdrawing money from PF

A major decision has also been taken in the budget regarding the Employees’ Provident Fund (EPF). Finance Minister Nirmala Sitharaman has changed the tax rules regarding withdrawal from PF. Now 20 percent TDS will be charged instead of 30 for withdrawing money from PF account in less than five years. This will also benefit those account holders whose PAN has not been updated yet.

What is the new rule?

As per the rules, if an account holder withdraws money within five years, he has to pay TDS. At the same time, no TDS is levied after five years. If PAN card is not linked, 30% TDS is deducted. This rate has also been reduced to 10 percent. The new rule will be applicable from 1 April 2023.

PF interest rate may increase

In the upcoming meeting of EPFO, decisions can be taken to further increase the currently available interest rates and attract investors for a long time. The increase in the new interest rates will be done keeping in mind that people invest in this fund for a long period and many other options available in the market for similar long periods are giving higher returns. According to estimates, soon up to 9 percent return can be received on investment in EPFO. In 2016 this return was 8.5% and now it is 8.1%.

Deadline to apply for higher pension extended

The Labor Ministry said in a statement on Monday, “Now on the demand of the union of workers / employers, the Central Board of Trustees has decided to extend the last date for receiving applications from such workers to May 3, 2023.”

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This is how the interest on PF reduced

Currently, EPFO ​​has more than six and a half crore subscribers. At the same time, the rate of interest available on PF is at the lowest level in many decades. EPFO had fixed the rate of interest of PF at 8.1 per cent for 2021-22, which is the lowest rate of interest on PF after 1977-78. Earlier in 2020-21, interest was being received on PF at the rate of 8.5 per cent. There was no change in the rate of interest of PF in the fiscal year 2020-21. Just a year before this, in 2019-20, this interest rate was reduced from 8.65 per cent to 8.5 per cent.

Crores of people will be harmed

Now it is being told that the meeting of EPFO ​​is going to be held on March 25-26, in which a decision can be taken regarding the interest. According to the news published in an English newspaper, the interest on PF can be further reduced to 8 percent. According to the news, Lok Sabha elections are going to be held next year. Before that, assembly elections will also be held in many important states. For this reason, there is no scope to reduce the interest on PF much, but it is possible to reduce it as compared to last year. If this happens, then crores of people working in the private sector are going to suffer a direct loss.

EPFO invests in these places

Let us tell you that Employees Provident Fund Organization ie EPFO ​​invests the amount deposited in the account of PF account holders in many places. A part of the earnings from this investment is returned to the account holders in the form of interest. At present, EPFO ​​invests 85 per cent in debt options, which include government securities and bonds. The remaining 15 per cent is invested in ETFs. PF interest is decided on the basis of earnings from debt and equity.

How to check PF balance (How to check PF Balance):

• Go to the website of EPFO.
• Select ‘For Employees’ from the dropdown of ‘Our Services’.
• Click on Member Passbook.
• Login with the help of UAN number and password.
• Choose the PF account and you will see the balance as soon as you open it.
• To check balance through SMS, send the message ‘EPFOHO UAN ENG’ to 7738299899.
• PF balance can also be checked from Umang app.

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The Employees Provident Fund organization keeps on depositing funds for the retirement of the employees. This fund is deposited in the EPF or PF account from the salary of the employees and on behalf of the companies. The government also pays annual interest on this deposit. Now online facility has been given to check this amount, withdraw or do any other kind of work.

If a company does not deposit the PF money of the employees or if you have any kind of problem under this account, then you can file a complaint about it.

This complaint can be made on the EPFO ​​portal itself under the EPF i-Grievance Management System (EPFiGMS). Let us know how you can file a complaint under your account. The EPFiGMS portal also allows EPF subscribers to view the status of open complaints and requests. The complaint can be filed only by PF member, EPS pensioner, employer and people connected with EPF.

To register a complaint, you have to go to epfigms.gov.in. Here click on ‘Register Grievance’ and now click on Status. After this enter UAN and password and go to gate details. Now enter OTP and complete the verification.

Now enter name, gender, contact information, pin code, state and other personal information. Now click on Grievance Details in PF account number. Now choose the complaint type. Now upload the documents by clicking on Choose File. Now your complete information will be visible in Grievance Details. After registering the complaint, you will be sent a mail from EPFO.

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According to media reports, the government can transfer interest money (PF Interest) on PF by the end of January i.e. before the budget. However, no official announcement has been made by the government in this regard.

It is expected in media reports that by the end of January, the government can give interest at the rate of 8.1 percent on EPF deposits. Right now the interest on EPF is almost equal to the interest on bank FD. If you are also waiting for interest on PF account then you can easily check PF balance.

Balance can be checked through SMS

If your UAN is registered with EPFO ​​then you can get information about your latest contribution and PF balance through SMS. For this, you have to send EPFOHO UAN ENG to 7738299899. The last three characters are for the language. If you want information in Hindi, you can send it by writing EPFOHO UAN HIN. This SMS has to be sent from the registered mobile number of UAN.

You can also know the balance of PF through missed call.

You can give a missed call on 011-22901406 from your registered mobile number. After this, a message will be received from EPFO, in which the details of your PF account will be found. This call has to be sent from the registered mobile number of UAN.

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If the news coming in the media is to be believed then the government can transfer the interest money on PF by the end of January. If you are also waiting for this interest, then you just have to do this work quickly. So, that you can also know your current balance. When the interest of PF is transferred to your account, then you can know how much interest you have got at the rate of 8.1 percent.

The government will pay this much interest at the end of January

The government will pay interest at the rate of 8.1 percent on Employees’ Provident Fund (EPF) deposits till the end of January. Right now the interest on EPF is almost equal to the interest on bank FD. You can know your today’s PF balance by these four methods. When the interest is transferred, you will know how much interest you have received.

know pf balance through missed call

EPFO has how you can know the balance through a missed call. You can check your balance by giving a missed call from your registered mobile number on the UAN portal. Give a missed call on 011-22901406 from your registered mobile number. After this, PF information will be available through EPFO ​​message. For this, it is necessary to link your bank account number, PAN and Aadhaar with UAN.

You can check balance through SMS

Send EPFO ​​UAN LAN (Language) to 7738299899 from the 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. Similarly, write HIN for Hindi and TAM for Tamil. To get information in Hindi, you have to message by writing EPFOHO UAN HIN. After sending the message, you will get the balance message from EPFO.

through passbook

To check your balance online one has to visit the EPF Passbook portal. Login to this portal using your UAN and password. In this, click on Download/View Passbook and then the passbook will open in front of you in which you can see the PF balance.

Balance can be known through Umang app

If you have a smartphone, you can also check your EPF balance through the app. For this, open the Umang app and click on EPFO. In this click on Employee Centric Services and then go to View Passbook. Here OTP will come on your phone, enter it after that you can see your PF balance.

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The government has retained the interest rate of 7.1 percent for the fourth quarter of the current financial year on the General Provident Fund or General Provident Fund (GPF) and other similar funds for government employees. Prior to this i.e. in the quarter ending December 31, the interest rate on GPF was 7.1 percent. The Finance Ministry said in a notification on Tuesday, “This rate is valid from January 1, 2023 to March 31, 2023.” This rate has come into effect from January 1, 2023.

What is GPF or General Provident Fund?

GPF is a social security scheme, which is run for central government employees. Under this scheme, the employees are allowed to put some percentage of their salary in this scheme and their contribution keeps on accumulating in this fund. When he retires, his entire amount is paid to him.

The government revises the interest rates of GPF every quarter. This rate of 7.1% is also applicable to other provident funds run by other governments, such as Contributory Provident Fund, All India Services Provident Fund, Armed Forces Personnel Provident Fund, State Railway Provident Fund, etc.

There is no change in the interest rates of PPF, but small savings schemes will get more returns

Just in last week’s update, the government had also revised the interest rates of Public Provident Fund, but there was no change in its rates as well. Its rates also remain at 7.1%. However, interest rates on small savings deposit schemes including post office FD, NSC and Senior Citizen Savings Scheme were hiked by up to 1.1 per cent. This new rate has come into effect from January 1.

Mainly the interest of such post office schemes has been increased, on which income tax benefits are not available. There has been no change in the interest rates of the girl child savings scheme ‘Sukanya Samridhi’.

According to the notification of the Ministry of Finance, the interest rate on NAC, Senior Citizen Savings Scheme and Kisan Vikas Patra (KVP) has been increased by up to 1.1 percent. The income from these plans is taxable. National Savings Certificate (NSC) is getting interest at the rate of seven percent from January 1.

Similarly, the Senior Citizens Savings Scheme is getting eight percent interest as against the existing 7.6 percent. Interest rates on Post Office Fixed Deposit Scheme have increased by 1.1 percent for a period of one to five years. In the monthly income scheme also, instead of 6.7 percent, now 7.1 percent interest is being received.

The post Big news on PF of government employees, interest rate on GPF will not increase in January-March, return will be given from old rate only first appeared on Rightsofemployees.com.

According to the information given by the Finance Ministry, this rate is valid from January 1, 2023 to March 31, 2023.This rate is effective from January 1, 2023.

What is GPF: Government employees are eligible in the General Provident Fund ie GPF. Under this, employees are allowed to contribute a certain percentage of their salary to GPF. Whereas, the total amount accumulated during the employment period will be paid to the employees at the time of their retirement. The contribution made to GPF is also exempt under section 80C of income tax.

Explain that the government revises the interest rate on GPF every quarter. This interest rate is also applicable to All India Services Provident Fund, Armed Forces Personnel Provident Fund, State Railway Provident Fund and other government-run provident funds.

When to decide on allowance: The central government can take a decision on dearness allowance or dearness relief of its employees in March. This decision will be effective from 1 January 2023.It is estimated that the government may increase the interest rate by up to 4 per cent for the first half.

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Along with this, by the end of this year, how much money has been deposited in your PF account, it should also be known. At the same time, employed people also get the option of saving through PF account.

PF account

where as now balance can be checked in PF account online also. Provident Fund ie PF account holders no longer need to go anywhere to check their balance in the account. Employees can check their balance online with the help of just a few clicks. Along with this, you can also see how much interest has been deposited in your account.

Through PF balance

EPFO ​​online service, working class people can easily check their PF balance sitting at home. At the same time, to check PF balance online, the balance can be checked by visiting EPFO’s website. It also has a process. Let us know how you can check the amount deposited in PF account online.

Check PF balance from EPFO ​​portal like this

• Go to the official website of EPFO ​​and click on the service tab.
• Now click on the ‘For Employee’ section.
• After this click on ‘Member Passbook’.
• Now login by entering UAN and password.
• Now complete information will come in front of you and balance can be checked.

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EPF account plays a very important role for employed people. With this, savings are made for employed people, which can be useful in their retirement. PF account whereas EPFO ​​account holders can update the exit date online after changing jobs. EPFO has now launched a facility on the official website, which allows users to update ‘Exit Date’ online after changing jobs.

This facility was not available to the employees earlier. Earlier only the employers could update the Exit Dates online but now the employees can also do this work.

Update Exit Date like this

• Visit the official website of EPFO.
• Log in to your account using your Universal Account Number (UAN) and password.
• Click on Manage.
• Click on Mark Exit.
• Select Employment will give a dropdown menu from where you can select your PF account number.
• Enter Date of Exit and fill the reason.
• Click on Request OTP. OTP will be sent to the mobile number linked to your Aadhaar card.
• Enter OTP.
• Select the checkbox.
• Click on Update and OK.
• You will get a message confirming- Date of exit has been successfully updated.
• Now navigate to View section and see Service History under it.
• Now you can see the date of joining and exiting both your EPS and EPF accounts.
• Note that you can enter Exit Date only after 2 months of leaving your place of employment.

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There has been a demand for a long time to increase the minimum monthly pension received by the salaried class under EPS. Now the new update regarding this is that the ‘EPS-95 Rashtriya Sangharsh Samiti’ has given 15 days’ notice to the Labor Ministry to increase the minimum monthly pension from Rs 1,000 to Rs 7,500.

In the notice given by the warning

committee of the countrywide movement, it has been said that if the demand is not fulfilled, a countrywide movement will be done. Employees Pension Scheme-1995 i.e. EPS-95 is operated by the retirement fund body Employees Provident Fund Organization (EPFO). Under this, more than six crore shareholders and 75 lakh pensioners are beneficiaries.

Medical facilities of pensioners are also limited

In a letter written to Union Labor Minister Bhupendra Yadav, the Sangharsh Samiti has said that the pension amount of EPS-95 pensioners is very less. Apart from this, medical facilities are also limited. Due to this the death rate of pensioners is increasing. It was also said in the letter that if the increase in this pension amount is not announced within 15 days, then a nationwide agitation will be done. Under this, warnings have been given to stop rail and road transport and take steps like mass fast unto death.

The committee has demanded an increase in the minimum pension from Rs 1,000 to Rs 7,500 with dearness allowance announced at regular intervals. Along with this, the committee has also demanded payment of pension on actual salary as per the decisions of the Supreme Court on October 4, 2016 and November 4, 2022.

The post EPFO Pension Increased: Good news for 6 crore subscribers of PF! Now pension will be increased to so many thousands! first appeared on Rightsofemployees.com.

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 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 by the end of this month. This year’s interest is at the lowest level in 40 years.

The calculation of interest is quite simple

If you have Rs 10 lakh in your PF account then you will get Rs 81,000 as interest.
If you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest.
If you have Rs 5 lakh in your PF account, then Rs 40,500 will come as interest.
If you have one lakh rupees in your account, then 8,100 rupees will come.

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 do online balance check, 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.

3. Balance can also be checked on UMANG App

1. For this, you open your UMANG App (Unified Mobile Application for New-age Governance) and click on EPFO.
2. Now on the other page, click on Employee-centric services.
3. Here you click on ‘View Passbook’. With this, you fill your UAN number and Password (OTP) number.
4. OTP will come on your registered mobile number. After this you can check your PF balance.

The post EPFO Account Holder Good News: 81,000 rupees will come in the account of EPFO ​​subscribers, here’s the date and how to check first appeared on Rightsofemployees.com.

Explain that with merging, you can make it easier to track your expenses and income tax return. If you start a new job in another company and give your old UAN number to them, then your old PF account cannot be linked to the new account, but the amount deposited in the previous PF account will not be transferred to the new account. In such a situation, to add the old fund to the new account, the PF account will have to be merged.

How to merge pf account

• First of all, you have to go to the member service portal https://unifiedportal mem.epfindia.gov.in.
• Select ‘One Member One EPF Account (Transfer Request)’ under the ‘Online Services’ tab.
• Your personal details will appear on the screen. It will also show the details of the EPF account maintained with your current employer, in which the transfer-in from the previous account will be done.
• To transfer the old/previous PF account, you need to get it verified by the previous employer or your current employer.
• Enter previous PF account number or previous UAN number. Click on ‘Get Details’. Now the details related to your previous EPF account will appear on the screen.
• After this click on ‘Get OTP’.
• A one time password will be sent to your registered mobile number.
• Enter OTP and click on submit.

Your request for merge of EPF account will be submitted successfully. Your current employer will then need to approve the submitted merger request. Once your employer approves it, EPFO ​​officials will process and merge your previous EPF account. To find out about the status of the merge, you can check by visiting the portal.

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Being a member of EPFO ​​means that your PF is deducted every month. An alert has been issued by the Employees’ Provident Fund Organization (EPFO) for the employees whose PF is deducted. This alert has been issued in the last few days after many frauds in the name of EPFO ​​came to the fore.

EPFO does not ask for personal information

Such alerts have been issued by EPFO ​​in the past as well, but in the last few days the cases of fraud have increased rapidly. It was told by tweeting on behalf of EPFO ​​that EPFO ​​never asks for personal information like PAN, Aadhaar, UAN, bank account and OPT from its members through phone, social media, WhatsApp etc.

Do not answer calls or WhatsApp calls

EPFO ​​warned that EPFO ​​never asks to deposit any kind of money through social media, WhatsApp etc. for information related to any service or for anything else. In such a situation, all the members are advised not to answer any such call or WhatsApp call.

Employer’s share is deposited in two parts

12 percent of the basic salary and dearness allowance of EPFO ​​members is deposited in the EPFO ​​account. Similarly, 12 percent of the basic salary has to be paid by the employer. There are two parts in this 12 percent. Out of 12 percent, the first part of 8.33 percent goes to Employee Pension Account (EPS) and the remaining 3.67 percent amount goes to EPF account. There is a provision for the employee to get this amount on retirement. But you can remove it if needed even during the job.

The post EPFO Alert: EPFO’s warning for crores of jobbers, those who ignore them will be hit hard first appeared on Rightsofemployees.com.

For this, you have to visit the EPFO ​​website and select One Employee-One EPF account in the service tab. You can easily merge your PF account with the help of online sitting at home. If you also want to merge your PF account with the help of online, then let us know all the details about it.

Why is it important to merge two PF accounts?

When you open a new PF account with the old UAN number at the time of joining the new company, then your funds deposited in the old companies are not added to the new PF account. You will have to merge them so that the old funds are also added to your new PF account.

How to know UAN?

• If you do not know your UAN number, you can find it online. For this you have to go to ‘ https://unifiedportal-mem.epfindia.gov.in/memberinterface/ ‘.
• Here click on the Employee Linked section on the right side and then click on ‘Know your UAN’ number.
• After this you have to fill the registered mobile number and captcha code.
• After this click on Request OTP.
• Now a page will open in front of you.
• On this you will have to fill your PF account number and captcha.
• Aadhaar or PAN number will have to be entered along with the date of birth.
• After this click on ‘show my UAN number’, you will get your UAN.

In how many days does the PF account get closed?
Employees’ Provident Fund Organization (EPFO) maintains your account for 36 months. If there is no transaction in your PF account for 36 months, then your account will automatically be closed. EPFO puts such accounts in these operative categories. This means that your account is no longer operational.

Know your UAN
You should know your UAN i.e. Universal Account Number. With this, you can take advantage of all kinds of online facilities related to your Provident Fund. Learn the easy way to know UAN.

What is the method of linking two or more EPF accounts?

• First of all go to EPFO’s member service portal https://unifiedportal-mem.epfindia.gov.in.
• Select ‘One Member – One EPF Account (Transfer Request)’ under the ‘Online Services’ tab.
• Your personal details will be reflected on the screen. In this, the new account created by your current employer will also be listed.
• You will have to attest the old or new employer to link the old account with the new account. It would be better to get it done from the new employer only. Enter your old member ID, old PF account number and old UAN and then click on ‘Get Details’. your old epf
• Click on ‘Get OTP’. OTP will come on your registered mobile number, enter it and submit.
• Your request will be submitted. Your current employer has to approve it. After which EPFO ​​will merge your old account with the new account. You will have to check your merger status later.

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Finance Minister: There is big news for EPFO ​​subscribers. A parliamentary committee will seek an explanation from the Finance Ministry for turning down the Labor Ministry’s proposal to increase the pension of Employees’ Provident Fund Organization (EPFO) subscribers from the current Rs 1,000 per month.

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Pensioners will have to submit their life certificate before its validity expires. Under the Employees’ Pension Scheme (EPS ) 1995, pensioners taking pension from the Employees’ Provident Fund Organization ( EPFO ) do not have to submit life certificates till November 30 . For example, if pensioners have submitted life certificate on 1 December 2022, it will remain valid till 30 November 2023 next year.

EPFO gave information on official tweet

In the tweet made by EPFO, it is written that EPS-95 pensioners can now submit life certificate anytime. It will be valid for 1 year from the date of deposit. Life Certificate validates the proof of life of a retired employee. They are valid for 12 months from the date of submission.

This has to be updated from time to time to ensure that the pensioners continue to get their pension. EPC pensioners were earlier required to submit digital life certificate in November. Earlier, in the month of November, a huge crowd of pensioners used to collect certificates at the centres. Now EPS-95 pensioners have benefited a lot from this.

You can submit life certificate here

– Common Service Center ( CSC)

– IPPB /Indian Post Office

– Umang App

Pension paying bank

Nearest EPFO ​​Office

These documents will be required

– Aadhaar Number

-PPO number

– Bank account information

Aadhaar linked mobile number

You can submit life certificate online

According to the Scheme Booklet released by the Central Pension Accounting Office (CPIO), if the pensioner is not physically able to appear before the PDS, he/she should get a Jeevan Pramaan or Jeevan Pramaan in the prescribed format signed by any ‘Designated Authority’. To generate a digital life certificate on the Jeevan Pramaan app, a live photo of the pensioner has to be uploaded from the smartphone.

Government gave relief

In November 2020, the Department of Pension & Pensioners’ Welfare was launched by the Ministry of Electronics and Information Technology (Meity) in collaboration with the India Post Payments Bank ( IPPB ) of the Department of Posts . This was to facilitate doorstep service for submission of digital life certificate through postman. Pensioners can avail this service by downloading ‘Postinfo App’.

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Crores of people across the country work in the organized sector. A part of the salary of these people is deducted as PF and deposited in the account of Employees Provident Fund Organisation. The amount deposited in the EPFO ​​account is a great support for every salaried person, which he can use in bad times or after retirement. After completing the age of 60 years, the account holders get permission to withdraw all the money from the PF account. The government guarantees the money deposited in this account. In such a situation, it is a completely risk free investment.

To provide insurance facility to its employees, EPFO ​​also gives a benefit of Rs 7 lakh to the account holders under the Idli scheme. Now the question must be arising in your mind that what is the idli scheme. The full form of Idli is Employee Deposit Linked Scheme. Under this scheme, every account holder gets insurance of Rs 7 lakh. Now we tell you who get the benefit of this insurance and how it can be claimed.

Know what is EDLI scheme and who gets the benefits

Under the Employee Deposit Linked Insurance Scheme (EDLI Scheme), every PF account holder gets accident insurance of Rs 7 lakh. If a PF account holder dies unfortunately, then in such a situation his family can get an insurance claim of up to Rs 7 lakh. Under this scheme, a claim of 35 times the monthly salary of the employee or up to a maximum of Rs 7 lakh can be received. The legal heir or nominee gets the right to take advantage of this scheme. EPFO often advises its account holders to update the nominee so that there is no problem in getting money in case of an emergency. The purpose of this scheme is that it can provide financial assistance to the family members of any PF account holder in case of accidental death.

Why is it necessary to have a nominee?

EPFO ​​always advises to update the nominee so that in case of sudden death of an account holder, in such a situation, there is no problem in claiming the money lying in the PF and the EDLI scheme. Nominee can easily take advantage of EPF, EPS and EDLI schemes. In the absence of a nominee, the legal heir will first have to get the Succession Certificate made. Only after this he can claim this money. All this work takes a lot of time and trouble. In this case, always keep the nominee updated in the account.

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The Employees’ Provident Fund Organization (EPFO) has put a cap of Rs 15000 on the basic salary of lakhs of employees working in the private sector and on the basis of this pension is calculated.

But, after the decision of the Supreme Court, this cap will be removed and the pension will be calculated at Rs 20000 instead of Rs 15000. If this happens, then the monthly pension of the employees can be increased by at least Rs 8500.

EPFO has put a cap on 15000, even if the salary of an employee is more than Rs 15000, then the PF on salary will be calculated at Rs 15000 only. That is, if the basic salary of an employee is Rs 50000 and he wants to calculate his pension on 50000 only, then he cannot do so. The reason for this is that there is a cap on Rs 15,000 from EPFO.

Pension will increase on abolishing the salary limit

, however, hearing is going on in the Supreme Court regarding this matter. If the Supreme Court does away with the salary limit, then PF can be calculated on the highest bracket as well. That is, if the basic salary is more than Rs 15000, the PF money will be deducted at the highest level. With the decision of the Supreme Court, employees will get many times more pension.

What is the matter

Employees’ Pension Revision Scheme was notified by the Central Government on 1st September 2014. At that time the private sector employees opposed it. On this EPFO ​​filed an SLP in the Supreme Court. The Supreme Court decided to hold a hearing. On 1 April 2019, while hearing EPFO’s SLP, it said that the employees who are contributing on the basis of their actual salary, they are depositing with their company in the form of joint option.

They are unable to take advantage of the benefits of the pension scheme without justification. There is no justification for fixing the pension salary at Rs 15,000. The matter is being heard continuously since August 17 and the matter is still pending.

How much will the pension increase?

If the salary (basic pay + dearness allowance) of an employee is 20 thousand rupees. According to the pension formula, the pension will be Rs 8,571 instead of 7500. EPS calculation formula = Monthly Pension = (Pensionable Salary x EPS Contribution) can be checked. That is, there can be a direct increase of 300% in the pension.

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There is big news for Central Government Employees. The government has made a big change in the rules related to retirement funds. According to the information received from the government, there has been a big change in the rules of General Provident Fund. If there is a government employee in your house too, then there is important news for all of them.

Let us tell you that the ceiling on PF has now been fixed by the government for investment in GPF. A ceiling has been put on the investment of Provident Fund. After this decision taken by the government, government employees can deposit only up to Rs 5 lakh in GPF.

What is GPF?

According to the information received from the government, this limit has been fixed for one financial year. GPF is a kind of voluntary scheme. Government sector employees invest in this scheme. In this, the benefit of 7.1 percent interest (GPF interest rate) is available on investment.

Let us tell you that government employees can deposit a part of their salary in the General Provident Fund and this money is returned to the account holders at the time of retirement. Interest is earned on the money deposited in GPF.

How much interest do you get?

Government employees can contribute up to 15 per cent of their salary. The advance fee of this account is the most special. Employees can withdraw the fixed amount from their account as and when required. No tax is levied on this amount and the government has fixed the interest amount at 7.1 percent.

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The Provident Fund scheme run by EPFO ​​is one of the biggest investment tools to build retirement corpus. Salaried employees have to deposit PF money from their salary, and in this along with the contribution of the employee, your money keeps on investing in this government scheme.

Technically this is your retirement fund, which you can completely withdraw after one age. However, with some conditions, you have the exemption that you can withdraw money from your PF account even earlier, but you should know whether you will have to pay tax on EPF withdrawal or not.

Let us know some such conditions where you have to pay tax on withdrawing money from EPF-

1. Withdraw money before 5 years

If you withdraw money from the PF account before the completion of five years of contribution, then you have to pay TDS on it. For this, you must be in service for 5 consecutive years. In this, both the new and old employers have a count regarding your tenure. If you transfer your EPF balance from the old employer to the new employer after completion of five years or more, then TDS is not deducted on your fund.

2. The job has been temporary in these five years

If you have been working on contract somewhere within five years, then your PF will not be credited, your employer does not have to contribute to your PF. But let’s say that after some time you become permanent in the job and your PF starts deducting. You leave this job after completing 5 years. And now if you have to transfer your EPF balance elsewhere, then it will be taxed because, out of the five years you have completed, you have spent some part of it in a temporary position.

3. Your fund is not recognized

A Provident Fund that has not received approval from the Commissioner of Income Tax is considered invalid for tax exemption. It may have been approved by the Provident Fund or any other institution, but you need approval from the Income Tax Commissioner to get the exemption on withdrawal after 5 years. If you are a member of URPF, then your withdrawal is taxed whether you have completed five years or not. 

Understand taxability from the chart

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Several media reports have claimed that the full provident fund interest will be credited to their accounts soon after Diwali. EPFO subscribers who have not yet received the PF interest rate, they are likely to get it just after Diwali.

In June this year, the Center had approved a four-decade low interest rate of 8.1 per cent on Employees’ Provident Fund (EPF) deposits for 2021-22. Significantly, the 8.1 percent EPF interest rate is the lowest since 1977-78.

PF customers can check their PF balance sitting at home using four different methods. PF balance can be checked by SMS, online, missed call and using UMANG app.

Know how to check EPF account balance online

• Log on to epfindia.gov.in
• Enter your UAN number, password and captcha code
• Click on E-Passbook
• When you have entered all the details, you will be redirected to a new page
• now open member id
• Now you can see the total EPF balance in your account

How to check EPF balance through UMANG App?

• open umang app
• Click on EPFO.
• Click on Employee Centric Services
• Click on View Passbook Option
• Feed your UAN number and password
• You will receive OTP on your registered mobile number
• Now you can check your EPF balance

How to check EPF balance through SMS

Apart from mobile number, members registered on the UAN portal can also get their PF details by sending an SMS from their registered mobile numbers. For this, you have to SMS ‘EPFOHO UAN’ to 7738299899.

HOW TO CHECK EPF BALANCE THROUGH MISSED CALL

EPFO ​​customers registered on UAN portal can get PF details available with Employees’ Provident Fund Organization by giving a missed call on 011-22901406 from their mobile number registered with UAN.

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Under which recently the Minister of State for Labor and Employment, Rameshwar Teli has said in the House not to make any change in the interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2021-2022. Since then, it is being expected that a big decision can be taken.

Center made a big announcement

Actually, let us tell you that during the proceedings, Rameshwar Teli was asked in the House whether the government can consider increasing the rate of interest on the 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 will be no change in the interest rate on the PF account.

Higher interest than small savings schemes

Responding to this whole matter, Minister of State for Labor and Employment, Rameshwar Teli said that the interest rate of EPF is similar to other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent).

More than has already been placed. That is, according to Rameshwar Teli, the interest on PF from small savings schemes itself is high, so no consideration will be given to the interest rate hike. Let us inform here that the interest rate on EPF is being given at the rate of 8.10 percent, which will remain the same.

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Also, you can use this money if needed. But the entire amount of PF can be withdrawn only on two conditions. The first condition is that you are retired. Retirement age is considered by EPFO ​​to be more than 55 years. The second condition is that even if you are unemployed for two months, you can withdraw PF funds.

Apart from these, the entire amount of PF cannot be withdrawn under any circumstances. After one month of unemployment, you can withdraw only 75 percent of the amount. The outstanding amount is transferred to your new EPF account when you get new employment. The amount can be withdrawn only up to a limit for the need of home loan and marriage in the family, etc., there are some conditions. Know here those conditions and method of withdrawal.

These are the conditions for home loan

The employee must be in continuous service for 5 years to withdraw money for construction or purchase of a house.

If the employee needs to be in service for at least 3 years for home loan. In such a situation, he can withdraw up to 90 percent of the amount. For needs like marriage, the employee needs to be in service for 7 years. In such a situation, he can withdraw up to 50 percent of his deposit. There is no prerequisite for medical treatment.

How to withdraw money

STEP 1: The EPFO ​​member has to log on to the e-sewa portal unifiedportal-mem.epfindia.gov.in. 

STEP 2: After this click on Manage and select KYC and check your KYC.

STEP 3: After this, going to the ‘Online Services’ tab, click on ‘Claim (Form-31, 19, 10C & 10D)’.

STEP 4: Now a new page will open in front of you. On this page, the member has to enter the bank account number linked to the UAN. After that click on ‘Verify’.

STEP 5: The ‘Certificate of Undertaking’ needs to be approved before proceeding for Bank Account Verification.

STEP 6: Now click on ‘Proceed For Online Claim’.

STEP 7: Now the member has to choose the reason for withdrawal from the PF account from the given list. Here you will see only those options that you are eligible for.

STEP 8: Now the member has to enter his full address. Also, the member has to upload the scanned copy of the check or bank passbook on the portal.

STEP 9: Now selecting the terms and conditions, click on ‘Get Aadhaar OTP’.

STEP 10: Now an OTP will come on the mobile number linked with Aadhaar. Enter it and click on claim. After some time your PF amount will be transferred to your account.

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After the DA is 34 to 38 percent, there is a possibility of increasing the allowances of central employees soon. Central employees can get the benefit of increase in four allowances simultaneously. After getting 38 percent dearness allowance, according to the Seventh Pay Commission, the travel allowance and city allowance of the central employees will also increase. 

Along with this, Provident Fund and Gratuity will also increase automatically. Actually, the monthly PF and gratuity of central employees is calculated from the basic salary and DA. In such a situation, due to increase in DA, PF and Gratuity are also sure to increase.

Not only this, due to increase in DA, the House Rent Allowance (HRA) of central employees will also increase. It is being told that this increase can be up to 3 percent. Let us tell you that on 28 September 2022, the Central Government increased the Dearness Allowance (DA) of central employees by 4 percent. 

Due to this, the DA of central employees has increased from 34 to 38 percent. Central employees and pensioners are now getting DA and DR at the rate of 38 percent. 50 lakh employees and 65 lakh pensioners have directly benefited from this announcement of the central government. Meanwhile, the central employees’ organizations have once again increased the pressure on the government for the arrears of 18 months. 

These people say that the ruling of the Supreme Court is that salary and allowance are the rights of the employees and it cannot be stopped. In such a situation, there is a pressure to pay the arrears of DA arrears from January 2020 to June 2021. In such a situation, good news can also be heard about the DA arrears of central employees.

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Not only can you take a loan from the amount of these PF, but additional bonus is also given to you. It is being told that this Diwali also some employees will be given bonus. Those who have completed departmental formality.

According to the information, the account holders whose basic salary is up to 5 thousand rupees. They will get an additional bonus of up to Rs 30,000 on retirement. At the same time, those whose basic salary is more than 10 thousand, they will be given additional bonus up to 50 thousand rupees.

Here are the Terms and Conditions

According to the rules issued by the Provident Fund Organization, if an employee faces any physical problem before completing 20 years of service, such employees are given additional bonus on retirement. Additional bonus is given to such employees on retirement.

It is said that the employees who are going to retire on this Diwali. According to the terms and conditions issued to them, they are entitled to bonus. is being told. That there are thousands of such employees, who are going to get the bonus amount before Diwali. However, no official announcement has been made about it yet.

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The Central Government is preparing to implement the New Labor Code in the country. The government is preparing to implement new rules to change the working life of the employed people. However, when will the new labor code be implemented in the country? Nothing is clear on this yet. But it is certain that it will be implemented. After the implementation of the new code, there will be a change in the salary of the salaried people from Weekly Off.

Companies may have to change their working strategy. Prime Minister Narendra Modi recently said that flexible work places and flexible working hours are the needs of the future.

The central government wants all the states to implement the new labor code simultaneously. This concept is being brought to balance between people’s personal life and work. The four new codes are related to the new Labor Code Wage, Social Security, Industrial Relations and Occupational Safety.

Discussion on 3 days leave-

The most talked about change after the implementation of the new labor code is the three-day weekly off. There is a provision of work for three and four days in the new labor code. However, the working hours will increase. After the implementation of the new labor code, you will have to work 12 hours in the office. In total, you will have to work 48 hours in a week. After this you will get three days weekly off.

Apart from this, there will also be a big change regarding the holidays. Earlier, it was necessary to work at least 240 days in a year to take long-term leave in any institution. But under the new labor code, you were required to work for 180 days. But under the new labor code, you will be able to take long leave after working for 180 days (6 months).

In hand salary will come down-

After the implementation of the new wage code, take home salary i.e. in hand salary will be less in your account than before. The government has made a provision in the new rule that the basic salary of any employee should be 50 percent or more of his total salary (CTC). If your basic salary is higher, then PF contribution will increase. With this provision of the government, employees will get a hefty amount at the time of retirement. Along with this, the Gratuity money will also get more. This will make their future financially strong.

Equal wages for men and women

Union Labor Minister Bhupendra Yadav recently said that we have rationalized the old laws and considered occupational safety and wage standards to ensure fair wages for both men and women. He said that 29 different Acts have been converted into four new labor codes.

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For the first time in forty years, the lowest interest is being paid, due to which there is a lot of frustration among the employees. The EPFO ​​has not officially announced to send interest money to the account of employees, but in all media reports, the claim is being made till October 15.

For information, let us tell you that last year people had to wait 6 to 8 months for interest. Last year the atmosphere was different due to Kovid, this year the government will not delay. In media reports, interest money can be transferred to the account by the end of this month. This year’s interest is at the lowest level in 40 years.

Accordingly, interest money will be received

If you have Rs 10 lakh in your PF account, you will get Rs 81,000 as interest.
If you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest.
If you have Rs 5 lakh in your PF account, then you will get Rs 40,500 as interest.
If you have one lakh rupees in your account, then 8,100 rupees will come

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 it is also necessary to have your UAN, PAN and Aadhaar linked. In this way you will get the information about the balance soon.

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You can withdraw double money from PF

In view of the increasing number of corona infections, the government has given this facility that now employees can withdraw double money from their PF account. Actually, earlier EPFO ​​had allowed employees to withdraw non-refundable advance. But now this facility is available to withdraw advance money up to double or twice. That is, now an employee troubled by Corona can withdraw this fund twice, whereas earlier this facility was available only once.

Actually, this special facility is being given by the government under medical emergency so that no employee is financially troubled, so this facility has been given. Let’s know its process

Know here step-by-step process

Step 1: For this, go to the member e-service portal https://unifiedportal-mem.epfindia.gov.in/memberinterface/ .
Step 2: Login to your account by entering your UAN, Password and Captcha code.
Step 3: Now go to Online Services and select your claim there (Form-31, 19, 10C and 10D).
Step 4: Now a new webpage will appear on your screen in which you enter all your details like name, date of birth and last four digits of your Aadhaar number.
Step 5: Now here you enter your bank account number and click on ‘verify’.
Step: 6 A pop-up will appear on your screen, asking you to provide ‘Certificate of Undertaking’.
Step 7: From the drop down menu, you have to select ‘PF Advance (Form 31)’.
Step 8: You have to select the ‘Pandemic outbreak (COVID-19)’ withdrawal form from the drop down menu.
Step 9: Enter the required amount and upload the scanned copy of the check and enter your address.
Step 10: Now a one-time password (OTP) will be sent to your mobile number registered with Aadhaar, enter it.

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Under which recently the Minister of State for Labor and Employment, Rameshwar Teli has said in the House not to make any change in the interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2021-2022. Since then, it is being expected that a big decision can be taken.

Center made a big announcement

Actually, let us tell you that during the proceedings, Rameshwar Teli was asked in the House whether the government can consider increasing the rate of interest on the 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 will be no change in the interest rate on the PF account.

Higher interest than small savings schemes

Responding to this whole matter, Minister of State for Labor and Employment, Rameshwar Teli said that the interest rate of EPF is similar to other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent).

More than has already been placed. That is, according to Rameshwar Teli, the interest on PF from small savings schemes itself is high, so no consideration will be given to the interest rate hike. Let us inform here that the interest rate on EPF is being given at the rate of 8.10 percent, which will remain the same.

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The government informed

Actually, this question was asked to Rameshwar Teli in the House whether the government is reconsidering to increase the rate of interest 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 no 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 than other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent). That is, according to Rameshwar Teli, the interest received on PF from small savings schemes is still high, in such a situation, the eligible government will not consider the interest rate hike. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this

Rameshwar Teli has said that the interest rate 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 the 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 the interest on PF will be available at the rate of 8.10.

The post EPFO Interest Rates Hike: Big information about increasing interest rate on PF, check update first appeared on Rightsofemployees.com.

Information given by the government

Actually, this question was asked to Rameshwar Teli in the House whether the government is reconsidering to increase the rate of interest 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 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 than other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent). That is, according to Rameshwar Teli, the interest received on PF from small savings schemes is still high, in such a situation, the eligible government will not consider the interest rate hike. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this

Rameshwar Teli has said that the interest rate 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 the 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 the interest on PF will be available at the rate of 8.10.

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Apart from securing the future, PF also gives you the benefit of free insurance of Rs 7 lakh. This insurance is available under the Employee Deposit Linked Scheme. If a PF account holder dies in an accident, then his family gets an assistance of Rs 7 lakh by EPFO.

Contribution goes to EDLI scheme every month-

The EDLI scheme of Employees’ Provident Fund Organization helps in giving social security to the people. This scheme works with the combination of EPF and EPS. Many PF account holders are not aware of this scheme. In such a situation, he is deprived of this benefit.

EDLI scheme was started by EPFO ​​in the year 1976. Under this scheme, in case of accidental death of the account holder, the nominee gets the salary of the last 12 months or the sum assured maximum of Rs 7 lakh. Explain that 8.33% of the total money deposited in the PF account is deposited in EPS, 3.67% in EPF and 0.5% in EDLI scheme. In such a situation, most people take advantage of EPF and EPS scheme, but very few people know about EDLI scheme.

The nominee gets the benefit-

EPFO keeps informing all its account holders from time to time to add or update the name of the nominee in their account. The biggest advantage of being a nominee in the account is that if an account holder dies, then his family does not face any problem in taking advantage of EPF, EPS and EDLI schemes.

\If the account holder dies due to any reason, then he gets all the money deposited in the account and the insurance money easily to the PF nominee. On the other hand, if the name of the nominee is not added in any account, then in such a situation you can claim the money only after showing the sign and succession certificate of all the legal heirs of the account holder.

Important things related to EDLI scheme-

Under the EDLI scheme, any account holder can get an insurance claim of a minimum of 2.5 lakhs and a maximum of Rs 7 lakhs.

To get a claim of up to Rs 2.5 lakh, the account holder should have worked for at least 12 consecutive months.

If an account holder has left the job, then his family will not get this insurance claim.

The company contributes 0.5% of the EDLI scheme.

To claim insurance, the nominee can make a claim at the EPFO ​​office or online on its official website.

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This time the interest is being paid by the government at the rate of 8.1%. However, this interest rate is the lowest in the last 40 years. Despite this, the employees have been waiting for the payment of PF for a long time. Meanwhile, EPFO ​​has given big information. If the account holders want their entire interest amount in the account, then they have to take special care of some things. Otherwise, they may have to face loss in the amount of interest.

In fact, lakhs of employees working in the private sector change their jobs every few months. After joining a new job, employees open new PF accounts in the new company from their old UAN. In such a situation, the money of the new company comes in the account and the amount stops coming in the old PF account. In such a situation, the employees may have to bear the loss of interest amount due to not getting the account done.

In such a situation, EPFO ​​has advised the employees to link all the accounts together. In doing so, interest can be paid on the amount collected in all the accounts. If the amount is more, the interest will also be higher.

PF account can be merged as soon as the UAN number is activated by the employees.

• To merge PF account, visit the official website of EPFO.
• Click on Services to login.
• Click on Apply 1 EPF Account
• a form will open
• Enter registered mobile number
• Enter the OTP number and the old PF account will be displayed as soon as you enter the OTP
• accept submit
• After sending the information, the account will be merged in a few days.

The post Good news for PF account holders, up to Rs. 40,000 will be paid, the amount in the account will increase in September! first appeared on Rightsofemployees.com.

t the same time, the 12 percent amount that the company deposits, most of it is deposited in your pension account. But this pension is not available to any account holder. There are certain criteria which you have to fulfill for this. Through this news, you have been told about the rules of PF pension.   

Who is entitled for pension

1. The first condition for getting pension is that you should be a member of EPFO.

2. Apart from this, it is mandatory for you to work in any company or institution for at least 10 years. It is not necessary that you do this for the whole 10 years in the same company. That is, in total you have to work for 10 years.

3. There are two options for getting pension. The first option is that you have completed 58 years of age, the second option is that you can get pension even after completing 50 years of age. But let us tell you that for this you have to fill Form 10D and if you take pension after 50 years, then the pension is also less. 

4. After the death of the employee, the family members get the pension. But the pension amount changes.

5. If you want, you can also postpone the pension for two years till the age of 60 years, after which you will get pension at the rate of 4 percent per annum.

Who deposits money in pension account? 

In the PF account, 12 percent of the basic salary and DA of the employee is deposited. The contribution of the employer is also the same. But, a part of the contribution of the employer is deposited in the EPS ie Pension Fund. Let us tell you that 8.33% contribution is deposited for pension. However, the maximum limit for PF to be merged by the company is Rs 15,000. In such a situation, only a maximum of Rs 1250 can be deposited in the pension fund every month.

Pension is available up to Rs 7500

According to the rules, if the basic salary and DA of an employee is Rs 15,000 or more, then Rs 1250 will be deposited in the pension fund. If the basic salary and DA is 10 thousand rupees, then the contribution will be only 833 rupees. If understood in simple language, 8.33 percent of your basic salary and DA will go to the pension account. In such a situation, after retirement, the employee can get a pension of Rs 7,500 as per the rules. 

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This time the interest is being paid by the government at the rate of 8.1%. However, this interest rate is the lowest in the last 40 years. Despite this, the employees have been waiting for the payment of PF for a long time. Meanwhile, EPFO ​​has given big information. If the account holders want their entire interest amount in the account, then they have to take special care of some things. Otherwise, they may have to face loss in the amount of interest.

In fact, lakhs of employees working in the private sector change their jobs every few months. After joining a new job, employees open new PF accounts in the new company from their old UAN. In such a situation, the money of the new company comes in the account and the amount stops coming in the old PF account. In such a situation, the employees may have to bear the loss of interest amount due to not getting the account done.

In such a situation, EPFO ​​has advised the employees to link all the accounts together. In doing so, interest can be paid on the amount collected in all the accounts. If the amount is more, the interest will also be higher.

PF account can be merged as soon as the UAN number is activated by the employees.

• To merge PF account, visit the official website of EPFO.
• Click on Services to login.
• Click on Apply 1 EPF Account
• a form will open
• Enter registered mobile number
• Enter the OTP number and the old PF account will be displayed as soon as you enter the OTP
• accept submit
• After sending the information, the account will be merged in a few days.

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This is the lowest interest rate in the last 40 years. Earlier in 1977-78, EPFO ​​had given 8 per cent interest and thereafter it was 8.25 per cent or more.

12 per cent deduction on the salary of an employee is made for the EPF account. If we talk about the employer, 8.33 percent of the deduction made by him goes to EPS (Employees Pension Scheme), while the remaining 3.67 percent goes to EPF.

If your basic salary is 25 thousand rupees, then the total contribution of both the company and the employee in the EPF every month will be around Rs 3918. At the same time, you will get Rs 2082 every month in the EPS account.

Lowest interest rate in 40 years

EPFO has announced an interest of 8.1 percent for the financial year 2022. Finance Minister Nirmala Sitharaman had defended the cut in the interest rate on PF, saying that the EPFO ​​has a central board which decides what rate is to be given to them.

He hasn’t changed it for a while. But now they have reduced it from 8.4 per cent to 8.1 per cent. In the financial year 2019-2020, 8.5% interest was given. Interest was also received at the rate of 8.5% in 2020-2021, while 8.65% in the financial year 2018-19, 8.55% in 2017-18, 8.65% in 2016-17 and 8.8% in the financial year 2015-16. was.

check balance online

You do not need to go anywhere to know your PF account balance. You can check your balance sitting at home. For this, you can know your balance by visiting the official website of EPFO, epfindia.gov.in.

After visiting this site, click on e-passbook. After clicking on it, you will have to fill your UAN number, password and captcha. By doing this, you will see the information related to the PF account. Here you will see the member ID. If you select it, then you will start seeing your PF balance on the E-Passbook.

missed call and sms

You have to make a missed call on 011-22901406 from the number linked to your PF account. Immediately after making a missed call, you will receive a message on your register number, in which PF balance information will be given. You can check PF account balance through SMS.

For this your UAN number should be registered with EPFO. First of all send EPFOHO UAN and SMS to 7738299899 from the registered mobile number. You will have to select the option for the balance information in the language in which it is available. For example, for Hindi, you will have to message by writing EPFOHO UAN HIN.

Check balance through app

For this, first you have to download the UMANG app. After that register your phone number and login to the app.

Go to ‘Service Directory’ by going to the menu given in the top left corner. Here search for EPFO ​​option and click on it. After going to View Passbook here, check the balance through your UAN number and OTP.

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This has dealt a severe blow to the employees. After the matter came to light, the EPFO ​​immediately suspended the accused officer Mahindra Bamne and appointed a higher officer for a detailed investigation of the whole matter. In this fraud, Bamne has defrauded many domestic employees of his friendly airline.

Not only this, the people involved in this case have also destroyed many documents and have done this scam with the help of fake papers. EPFO took a big step Sources related to EPFO ​​informed that although this big scam i.e. PF loot had started in 2019 itself, but it accelerated during the lockdown. When the matter came to light, EPFO ​​contacted Jet Airways pilots and asked them their Indian PAN card and The bank is asking for cheques, so that they can return the PF money. Not only this, foreign pilots are being asked to send money to this mail id suchitbhagwat@jetairways.com .

Know the whole matter

Prabhakar Banasure, member of EPFO’s Central Board of Trustees, said, “The accused opened bogus accounts to grab the PF money of the employees and then fraudulently settled claims in the defunct companies, including Jet Airways. We estimate that this violation of rules and tax evasion has caused a loss of about Rs 1000 crore to the EPFO. The culprits will get severe punishment for this. The matter reached the Labor Minister.

EPFO’s meeting

EPFO has shown strictness to investigate the entire matter. When the matter came to light, a meeting was held with the IAS officers of EPFO ​​and the Labor Minister on 29-30 July. Trustee member Sukumar Damle says that the issue of Jet Airways also came up in the meeting and people talked about it. The Labor Minister was informed about this matter related to Kandivali branch. In this, the matter of missing money from the PF of foreign employees has also come to the fore.

The post EPFO Scam: Big scam of EPFO ​​officers, 1000 crores withdrawn from PF by making fake claims first appeared on Rightsofemployees.com.

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.

The post PF Interest Rate Increased: Government will increase the interest rate on PF ! check details Quickly first appeared on Rightsofemployees.com.

EPFO has given this information in a notice. E-nomination has been made necessary so that the facility available to the account holder in any adverse situation can be given to his nominee. The benefit of social security related facility in PF can be given to the nominee.

E-nomination facility of EPFO ​​is applicable for all account holders. The entire work of e-nomination is to be digital, so there is no need to go to any office. The most important thing is that EPFO ​​has also told the complete method of doing e-nomination. Let us know how to file e-nomination.

How to file e-nomination

1. First of all you have to go to the official website of epfindia.gov.in
2. Here go to the Services tab and click on The employees option
3. Now click on the Member UAN / Online Service option
4. After this, go to the e-Sewa portal and enter all your information.
5. Here you will see the Manager tab where you have to select on the YES option and update the family declaration
6. Fill in all your family information
7. Now click on Nomination Details and fill the share amount
8. After this EPF nomination details have to be saved
9. Click on E-Sign option and generate OTP
10. Enter OTP number to complete the registration process

After completing all these processes, the e-nomination of the customer is completed. If a subscriber does not make e-nomination, then his nominee may face many difficulties in getting benefits related to social security. To avoid this, e-nomination has been made necessary. The benefit of e-nomination is available to the nominee when the account holder dies. 

In such a situation, if the e-nomination is registered, Rs 7 lakh is given to the nominee. The customer must enter the name of the nominee, for this the entire process has been made online. Customers can file e-nomination from their mobile or computer sitting at home. EPFO subscribers can easily do e-nomination by following the above mentioned steps.

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Apart from this, revision in HRA of central employees will also be done on time. Its benefit will be more than 47.68 lakh central employees and more than 68.52 lakh pensioners. There will be a jump in salary from 20 thousand to 2.50 lakh.

Dearness allowance will increase by 4%?

The Modi government at the Center can announce an increase in 4% dearness allowance and dearness relief for the second half in August.

After the release of the June data of the AICPI index, it is believed that the DA of the employees will increase by 4 to 5%. If it is implemented from July 1, then the arrears of July-August will also be available.

If the basic salary of a central employee is Rs 20,000 per month, then at the current rate of 34 per cent, he is getting DA of Rs 6,800 per month, then at 38 per cent, the amount will increase by Rs 800 per month to 7,600. That is, you will get a profit of Rs 9,600 annually, according to this, the annual DA of an employee with basic salary of Rs 20,000 will be Rs 91,200.

If we look at the maximum basic salary of Rs 56,900, then the total increase in annual dearness allowance will be Rs 27312. That means Rs 2276 will increase every month against the existing DA. His total annual DA will reach Rs 2 lakh 59 thousand 464.

Fitment factor also expected to increase

According to the recent reports, along with DA, HRA, central employees have been waiting for an increase in the fitment factor for a long time. Now that the increase in DA has been announced, then their hope has got wings.

It is expected that soon the government can also take a big decision on the fitment factor of central employees. The fitment factor plays an important role in the salary received by the employees. Due to this factor, the salary of central employees increases by more than two and a half times.

Possible increase in house rent allowance?

Currently, HRA rates are 27%, 18% and 9% depending on the category of the city, it is possible to increase it up to 3%. It is believed that soon the HRA of X category employees can be increased by 3 percent, Y category HRA by 2 percent and for Z category 1 percent HRA can be increased. Thereafter, it will increase from 27% to 30%, although this will be in case the DA rises from 34 per cent to 50 per cent.

According to the 7th Pay Matrix, the maximum basic salary of employees is Rs 56,900, then if HRA is 27 percent, there will be a profit of 20,484 in the salary. For example, house rent allowance is Rs 56900 x 27/100 = Rs 15363 per month, then 30% HRA If it is Rs 56,900 x 30/100 = Rs 17,070 per month, that means the total difference will be Rs 1707 per month.

The annual HRA will increase by Rs 20,484. These rates vary according to the area and city, currently the minimum HRA for all three categories is Rs 5400, 3600 and 1800. According to the same 7th Pay Matrix, the minimum salary of employees is Rs 18000 and maximum basic salary is Rs 56,900.
rising demand to increase

It is worth noting that there has been a long-standing demand of central employees to increase their fitment factor from 2.57 per cent to 3.68 per cent. After this, there will be a tremendous increase in the minimum salary of the employees.

Let us tell you that the last time the fitment factor was increased in the year 2016. The 7th Pay Commission was also implemented in the same year. At that time the minimum salary of the employees had gone straight from Rs 6000 to Rs 18,000.

Now the government can increase the salary of central employees again this year. The fitment factor decides the basic salary for all central government employees. This time, if there is a possible increase in the fitment factor, then the minimum basic pay will increase from Rs 18,000 to Rs 26,000.

The post Employees Latest Update: Good news for employees, 4 other allowances will increase along with dearness allowance first appeared on Rightsofemployees.com.

If you are a post office customer then there is important news for you. The Comptroller and Auditor General (CAG) has issued a shocking report. According to this CAG report, the employees of the post office i.e. post offices have misused public funds of Rs 95.62 crore between November 2002 and September 2021. This is great news for those investing in the post office savings scheme. Actually, the post office savings scheme has been considered very safe, in such a situation such an incident can shock the customers.

Post office safe plan

It is worth noting that people who do not have the ability to take risk, they also invest in the post office, because the post office is considered a safe investment. Let us tell you that the post office is the oldest and largest banking system in the country. The system caters to the investment needs of urban and rural customers through schemes like Savings Bank, Recurring Deposit, Time Deposit, National Savings Certificate, Kisan Vikas Patra, PF, Monthly Income Account Scheme, Sukanya Samriddhi Yojana and Senior Citizens Savings Scheme. Not only this, the Department of Posts (DoP) provides these services on an agency basis to the Ministry of Finance.

What does this report say?

According to the news published in India, the audit report of the CAG on Finance and Communications tabled in Parliament on Monday said, ‘Fake withdrawals of Rs 62.05 crore were made by postal workers in five circles from fake accounts. These were shown as active with fake balances and then closed. Cash deposits of Rs 9.16 crore by customers in eight circles were recorded in passbooks but not deposited in their post office accounts. Later the postal workers withdrew the money.

In four circles, fraudulent withdrawals of Rs 4.08 crore were made from savings accounts of customers with fake sign/thumb impressions done by postal workers. There were other cases of unauthorized use of user IDs and passwords by postal workers or outsiders. Due to this fraud of Rs 3 crore took place in four circles. Not only this, postal workers in connivance of outsiders in two circles.

CAG gave information

After this embezzlement of post office employees, the CAG said that out of fraud / rigging of Rs 95.62 crore, the postal department recovered Rs 14.39 crore (including penalty / interest of Rs 40.85 lakh) from the concerned persons. That is, Rs 81.64 crore is to be recovered. Soon it will also be recovered.

The post Post Office: Big news for the customers of the post office, the employees disappeared 95.62 crores, now the government will recover first appeared on Rightsofemployees.com.

Nowadays, the number of employees working for a long time in the same company is less. People change jobs very quickly. On joining a new company, a new PF account starts without changing the UAN. But the PF account of the previous company is not automatically added to the new account. In such a situation, if the employees do not merge the PF of their previous company, then they lose interest.

According to the news going on in the media, the government is going to put the PF interest in the account of the subscribers by 30 September. In such a situation, if you have also changed jobs and have not merged the PF of the previous company, then do this work soon. The PF of the previous company has to be added by visiting the EPFO ​​website. If you do not do this then you will get interest on the reduced balance.

How to merge PF account

• To merge two existing EPFO ​​accounts, visit the official website of EPFO.
• Go to Services tab and click on One employee – One EPF account.
• On clicking, a form will open for merging EPF account.
• Enter the registered mobile number here.
• After that enter UAN and current member ID.
• After filling all these details, an OTP will be generated for authentication. Which will come on your registered mobile number.
• Enter OTP. Now the old PF account will be visible. Enter the old PF account once and accept the declaration.
• Now click on submit. By doing this your request will be accepted.
• After verification, your PF account will be merged in a few days.

UAN must be activated
To merge two PF accounts, your UAN must be activated. You can activate UAN online. For this you have to visit the official website of EPFO ​​https://unifiedportal-mem.epfindia.gov.in/memberinterface/. Here you have to click on Activate UAN Tap. After this you have to enter UAN, date of birth, mobile number. On doing this the authorization pin will be generated. After entering the PIN, your UAN will be activated.

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The post PF Account Update: 81,000 rupees will be credited in the account of PF employees on this day, know here immediately first appeared on Rightsofemployees.com.

EPFO, which cuts PF, has not officially announced the date of transfer of interest money, but this claim is being made on a large scale in all media reports. It is believed that by August 30, the interest amount will be deposited in the account of the employees. For information, let us tell you that the government had transferred 8.5 percent interest to the account for the last financial year 2019-20. At the same time, employees are waiting for the interest money to be received on PF for a long time.

• Know when the money will come in the account

According to the information received, on any day the government transfers interest money to the PF account of the employees. In fact, if the government does this, more than 6 crore people will be given its benefit. This has not been confirmed by the government or EPFO. According to some media reports, by August 30, the government can send this money to the PF account of the employees.

• Employees will get the benefit of so many lakh rupees

The government is going to be kind to the PF employees now. If there is an amount of Rs 7 lakh in your account now, then you will be sent for a total of Rs 56.000 at the rate of 8.1 percent interest. This simply means that if the government sends this money to the employees, then they will get tremendous benefits.

• Check pf money like this

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 your state’s EPFO ​​website.
Now click on submit option.

The post Good news for PF employees! 56,000 rupees will come in the account, check check immediately first appeared on Rightsofemployees.com.

1. LIC premium, PF, PPF, Pension Scheme 

You get all the tax exemptions under Section 80C of Income Tax. For example, if you have taken a policy of LIC, then you can claim its premium. You can get tax exemption under 80C on the principal of provident fund, PPF, children’s tuition fee, national savings certificate, home loan. If you have purchased an annuity plan (pension plan) of LIC or any other insurance company under section 80CCC, then you can claim tax exemption. If you have bought a pension scheme of the Central Government under section 80 CCD (1), then you can claim it. Remember that taking all these together the tax exemption cannot exceed Rs 1.5 lakh.

2. Claim on Principal Amount of Home Loan

You can avail tax exemption under section 80C on the principal payment of the home loan. However, this limit cannot exceed 1.5 lakhs. So, if your remaining deductions under 80C are less than 1.5 lakhs, then you can claim tax deduction by meeting this limit from the principal amount of the home loan.

3. Tax Deduction on Home Loan Interest 

If you have taken a home loan, you get tax exemption on the interest paid under section 24(b) of Income Tax. According to Income Tax rules, you can get tax exemption on interest payment up to 2 lakhs. This tax exemption will be available only if the property is ‘self-occupied’.

4. Central Government Pension Scheme 

If you invest in the National Payment System (NPS), a central government pension scheme, then you get an additional exemption of Rs 50,000 under section 80 CCD (1B). This exemption
is on top of the tax exemption of Rs 1.5 lakh availed under section 80 (C). The contribution made by the employer to the pension scheme of the Central Government can be claimed under section 80 CCD2. It has two conditions. First, whether the employer is a Public Sector Unit (PSU), state government or any other, the deduction limit is 10 percent of the salary. If the employer is the Central Government, then the deduction limit will be 14% of the salary.

5. Health Insurance Premium

If you have taken any health insurance or get regular health checkup, then you can claim the premium under section 80D. Although its limit is fixed. If you have taken a health insurance policy for yourself, spouse, children and parents, you can claim a premium of up to Rs 25,000. In this case the age of the parents is less than 60 years. If your parents are senior citizens, then the tax exemption limit will be Rs 50,000. Health checkup of Rs 5000 is also available in this. However, the tax deduction cannot exceed the premium of health insurance.

The post Income Tax Deductions: Tax payers can save up to Rs 8 lakh in income tax! Know here 10 ways first appeared on Rightsofemployees.com.

The government has announced to give 8.1 percent interest for this financial year 2020-21, which is the lowest in the last forty years. Earlier in the financial year, it was announced by paying 8.5 percent interest. The EPFO, which cuts the PF, has not officially announced the date of transfer of interest, but the news of all the media is being claimed till August 30.

Know how many thousand rupees will come in the account

After the order of Modi Government, EPFO ​​is now going to add 8.1 percent interest in the account of PF employees. According to the order of the government, if 9 lakh rupees are lying in your account, then about 72 thousand rupees will be given as interest. There is a lot of enthusiasm among the employees regarding this. The government puts PF money in the account of PF employees every year.

Just check your amount

• 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’.

The post EPFO Customers Good News: 72,000 rupees will come in the account on this date, know how to check first appeared on Rightsofemployees.com.

If you do not file e-nomination then you will not be able to avail many online facilities of EPFO ​​including PF balance. The EPFO ​​had told that if an EPF member wants to change the existing nomination in EPF / EPS, then he can file a new nomination. As soon as a new nomination is filed, the old nomination will stand cancelled.

Nominee can be more than one member

In the e-nomination process, an employee can nominate more than one member of his family. If the employee dies in future by not doing e-nomination, then his money deposited in the PF account will get stuck. Then, his family members will find it difficult to withdraw this money.

If you want to do e-nomination then you need to have UAN and password. If you have both these things then you have to update your profile photo. If you want to make a nomination without your profile picture, then you will see this message ‘Enable to process’. So you first update your profile photo.

Know how to do e-nomination in EPFO

Step 1: First of all you have to go to epfindia.gov.in. Then login with the help of your UAN and password.

Step 2: Go to the ‘Services Tab’. Click on the ‘For Employees’ tab from the drop-down menu.

Step 3: Select ‘e-Nomination’ from the ‘Manage’ tab. Then enter your permanent and temporary address.

Step 4: Select ‘Yes’ to change the family declaration.

Step 5: Enter nominee details. You will also have to enter the photo of the nominee. Then click ‘Save’.

Step 6: Click on ‘Proceed’.

Step 7: Enter your Aadhaar number. Then OTP will come on your registered mobile number. After entering the OTP, the process of e-signing will be completed.

The post EPFO e-nomination Alert ! If you deposit money in PF, then know how you can do e-nomination of EPFO, otherwise money will get stuck first appeared on Rightsofemployees.com.

Money will come in the account soon

Most of the employees across the country contribute to the PF account. If PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, more than 6 crore employees contribute to the PF account across the country.

Only these employees will get benefits

Employees’ Provident Fund Organization (EPFO) is going to transfer PF interest money to the employees’ account very soon. Such employees who have 5 lakh rupees deposited in their PF account, they will get 40 thousand rupees as interest. It is being claimed in many media reports that the interest amount can be transferred to the PF account soon.

You can check PF account balance sitting at home

• To check your PF account balance, first you have to go to epfindia.gov.in.
• After this you have to click on the option of ‘Click here to know your EPF balance’.
• After this you have to go to 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 website link of the EPFO ​​office of your state.
• After that you have to click on the option of ‘Submit’.
• As soon as this whole process is completed, your PF account balance will be displayed on the screen.

The post EPFO Employees Good News : Employees are going to get good news soon, Rs 40,000 will be transferred to the account! first appeared on Rightsofemployees.com.

1. LIC premium, PF, PPF, Pension Scheme 

You get all the tax exemptions under Section 80C of Income Tax. For example, if you have taken a policy of LIC, then you can claim its premium. You can get tax exemption under 80C on the principal of provident fund, PPF, children’s tuition fee, national savings certificate, home loan. If you have purchased an annuity plan (pension plan) of LIC or any other insurance company under section 80CCC, then you can claim tax exemption. If you have bought a pension scheme of the Central Government under section 80 CCD (1), then you can claim it. Remember that taking all these together the tax exemption cannot exceed Rs 1.5 lakh.

2. Claim on Principal Amount of Home Loan

You can avail tax exemption under section 80C on the principal payment of the home loan. However, this limit cannot exceed 1.5 lakhs. So, if your remaining deductions under 80C are less than 1.5 lakhs, then you can claim tax deduction by meeting this limit from the principal amount of the home loan.

3. Tax Deduction on Home Loan Interest 

If you have taken a home loan, you get tax exemption on the interest paid under section 24(b) of Income Tax. According to Income Tax rules, you can get tax exemption on interest payment up to 2 lakhs. This tax exemption will be available only if the property is ‘self-occupied’.

4. Central Government Pension Scheme 

If you invest in the National Payment System (NPS), a central government pension scheme, then you get an additional exemption of Rs 50,000 under section 80 CCD (1B). This exemption
is on top of the tax exemption of Rs 1.5 lakh availed under section 80 (C). The contribution made by the employer to the pension scheme of the Central Government can be claimed under section 80 CCD2. It has two conditions. First, whether the employer is a Public Sector Unit (PSU), state government or any other, the deduction limit is 10 percent of the salary. If the employer is the Central Government, then the deduction limit will be 14% of the salary.

5. Health Insurance Premium

If you have taken any health insurance or get regular health checkup, then you can claim the premium under section 80D. Although its limit is fixed. If you have taken a health insurance policy for yourself, spouse, children and parents, you can claim a premium of up to Rs 25,000. In this case the age of the parents is less than 60 years. If your parents are senior citizens, then the tax exemption limit will be Rs 50,000. Health checkup of Rs 5000 is also available in this. However, the tax deduction cannot exceed the premium of health insurance.

The post Income Tax Deductions Update: Tax payers can save up to Rs 8 lakh in income tax! Know here 10 ways first appeared on Rightsofemployees.com.

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’.

The post PF employees great news: 64,000 rupees will come in the account on this day, know the latest update immediately first appeared on Rightsofemployees.com.

In the EPF meeting held in the month of March before Holi, it was decided to reduce the PF interest rate. Earlier it was 8.5 percent, which has now been reduced to 8.1 percent. This rate is the lowest in the last four decades i.e. 40 years. Now the government has also approved keeping the interest rate on EPF at 8.1 percent for 2021-22.

In 1977-78, the EPFO ​​had given an interest of 8 per cent. Since then it has been 8.25 per cent or more. The two-day meeting of EPFO ​​started on Friday, March 11, which ended on March 12, in which it was decided to reduce the interest rate of EPF.

The EPFO ​​had fixed 8.5 percent interest in the financial year 2020-21 and in the previous financial year. Earlier in 2018-19, 8.65 percent interest was given on EPFO. EPFO had paid 8.65 per cent interest in 2016-17 and 2017-18 also. At the same time, the interest rate was 8.8 percent in 2015-16, 8.75 percent in 2013-14 and 2014-15 also.

After getting approval from the government, EPFO ​​will now start adding interest amount to the EPF accounts of the employees. According to the EPFO ​​office order issued on Friday, the Ministry of Labor and Employment has informed about the approval of 8.1 percent interest to EPFO ​​subscribers for 2021-22. The Labor Ministry had sent this proposal to the Finance Ministry for approval.

Trustee KE Raghunathan, who represents the employees in the CBT, said the speed with which the labor and finance ministries have approved the rate of interest, given the need for funds to the employees, is indeed commendable. This will help them to meet the education and other needs of their children.

The post PF New Interest Rate: EPFO made a big changes in the interest rate, see the new rates immediately first appeared on Rightsofemployees.com.

The central government had talked about giving 8.1 percent interest rate on the provident fund for some time. This interest rate is the lowest interest rate in 40 years. Earlier, the government had given 8.5 percent interest. So this time interest will be transferred to your PF account at the rate of 8.1 percent.

Calculation of interest is quite simple
– If you have Rs 10 lakh in your PF account then you will get Rs 81,000 as interest.
If you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest.
If you have Rs 5 lakh in your PF account, then Rs 40,500 will come as interest.
If you have one lakh rupees in your account, then 8,100 rupees will come.

How to Check Balance
You can follow 4 ways to check your PF balance. Or you can choose any one of the four methods. In these ways, you can check the balance through SMS and you can also know by giving a missed call. Apart from this, you can also check through EPFO’s website, and UMANG app.

By SMS: For this, you have to send a message by writing EPFO ​​UAN LAN (Language) to 7738299899 from the mobile number registered with EPFO. LAN stands for your language. If you want information in English, you have to write ENG instead of LAN. Similarly, HIN is to be written for Hindi and TAM for Tamil. For example, to get information in Hindi, you have to message by typing EPFOHO UAN HIN.

By missed call: If you want, you can also know your EPF balance through a missed call. For this, you have to make a missed call on 011-22901406 from your registered mobile number. After missed call, your phone will be disconnected automatically and you will get your balance information.

Through website: To check your balance online, you visit the EPF passbook portal. Log in to this portal using your UAN and password. In this, click on Download / View Passbook and then the passbook will open in front of you, in which you can see the balance.

The post Good News EPFO Members: Salaried people will get Rs 81,000, know the date and way to check first appeared on Rightsofemployees.com.

In the country, the pension of people who have received gallantry awards like Maha Vir Chakra, Param Vir Chakra and Vir Chakra is not taxed. Apart from this, the family pension of such people is also tax free.

Scholarship

Although scholarship is given by the state and central government, but it is also considered as income in a way. But the important thing is that there is no income tax on it. Under Section 56 (ii) of Income Tax, the money received from the scholarship is tax free.

The post Income Tax Return: No tax is to be paid on these incomes, know the important things before filing the return first appeared on Rightsofemployees.com.

Sandeep Kumar, a resident of Pune, recently completed his studies and started a job in a tech company at a good package. Sandeep was eagerly waiting for his first salary and at the same time some preparations were going on in his mind for the future.

The month was over and the company deposited the first salary in Sandeep’s bank account. The happiness of salary was visible on Sandeep’s face, but as soon as the salary slip came, he was blown away to see that there is some confusion in the deduction in PF. Actually, Sandeep knew this and the same thing was recorded in the offer letter received from the company that 12 percent of his basic salary would be deducted and deposited in the provident fund account.

Now when the salary slip came in his hand, seeing it, Sandeep’s maths got messed up. He felt that the company had cheated him, because the amount that had come to the PF account after deducting his basic salary, was not visible from the company’s side. So, does the contribution of the company remain low or does the money deposited by it go somewhere other than the PF account of the employee. Like Sandeep, such questions must have arisen in the minds of many salaried people. Today we are telling you the solution by quoting experts.

The employer also contributes 12 percent, investment matters expert Balwant Jain says that there is no doubt in this matter that the company also contributes to the PF equal to 12 percent of its basic salary to its employee. But, where the entire 12 percent amount deducted by the employee is deposited in his PF account, the entire contribution made by the employer does not go to the PF account of the employee. That’s where the whole confusion starts.

So where does the money go?

Actually, out of the 12 percent contribution given by the employer to the employee, 3.67 percent amount goes directly to the PF account of the employee. At the same time, 8.33 percent part gets deposited in the pension scheme of the employee and this amount is not visible to the employee in his PF account. Out of this contribution of the employer, 0.5 per cent is deducted as Employee Deposit Linked Insurance, 1.1 per cent as EPF Administration Charge and 0.01 per cent as Employee Deposit Linked Insurance Scheme charges.

On retirement, the employee gets the full part of his contribution and the remaining part deposited after deducting the pension contribution from the employer. At the same time, pension is distributed to the retired employee every month from the amount deposited in the pension fund.

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Employees’ Provident Fund (EPF) is one of the most important financial planning and retirement investment options for lakhs of employees. With guaranteed returns and tax benefits, EPF is an investment for most people. Earlier there was also the Tax Rules on EPF on Kia Contribution and Withdrawal, but the government has brought changes in the tax benefits available to the employers and employees for contribution to EPF. With effect from April 1, 2022, provident fund accounts have been divided into taxable and non-taxable accounts. The due date for filing income tax is very near. It is necessary to file the return by 31st July. Let us also tell you what kind of changes the government has made in this. 

Understand the rules in these points

• Any interest on contribution made to EPF of an employee remains tax free only for contributions up to Rs 2.5 lakh per annum.
• Interest is charged to tax on contributions made by an employee in excess of Rs 2.5 lakh annually.
• If an employer is not contributing to the EPF of an employee, then the contribution limit has been increased to 5 lakhs.
• Tax is levied only on the excess contribution above the threshold and not on the total contribution.
• The additional contribution and the interest earned thereon will be kept in a separate account with EPFO.
• Employer’s contribution to Provident Fund (PF), NPS and retirement is tax free totaling Rs 7.5 lakh per annum. 
• The employer has to mandatorily provide EPF contribution for those employees whose monthly income is up to Rs 15,000.
• The EPFO ​​has reduced the interest rate for the financial year 2021-22 to a four-decade low of 8.1 percent. 

Many Assets Are Giving Higher Returns

Even though EPFA interest rates are currently at a 40-year low, but is giving higher returns than many assets. FD rates of public sector banks are still around 6 per cent, while EPFO ​​is giving returns of more than 8 per cent. On the other hand, the interest rates of the small savings scheme of the post office are also much lower than that of the EPFO. The interest rate in the 5-year time deposit scheme is 6.7 percent per annum. The interest rates of Senior Citizen Saving Scheme are being seen at 7.4 percent. Even the interest rates of PPF are being seen at 7.1 percent and Sukanya Yojana 7.6 percent.

File ITR by July

31st is July 31st Last date to file returns The last date to file Income Tax Returns for the financial year 2021-22 (FY22) is approaching soon. The last date for filing income tax return is 31 July 2022. The Income Tax Department made a tweet on Saturday, 16 July 2022, stating the due date. File income tax return for the financial year 2021-22 (FY22). Everyone should remember the last date, which is 31st July 2022. Yelled taxpayers and unaudited cases should file Income Tax Return (ITR) within the due date to avoid problems later. People can file ITR after the deadline has passed but they will have to pay a late fee. For more information about this, you can visit incometax.gov.in.

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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.

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When will the new labor code be implemented? This question is booming in the mind of most of the employed. This code, which came into force from 1 April 2021, is being carried forward continuously. There are many speculations. But, the government has not given any formal deadline yet. However, according to sources in the Ministry of Labor, planning is underway to implement it from October 1, 2022. With the coming of the new wage code, there will be many changes. Let us know what is the update for you…

New Wage Code will be implemented in phases

If sources are to be believed, the New Wage Code can be implemented from October. But, it will not be implemented directly. It will be implemented in a sequential manner. Meaning the notification will be issued for this before October 1, 2022. It will be deemed to be applicable from 1 October 2022. But, the states have been relaxed in this. States can also implement a slight delay at their level. However, the final deadline will be worked out.

New wage code may be implemented from October

If sources are to be believed, the central government is ready to notify the New Wage Code. The central government does not want to issue notifications without the consent of the states. Therefore, the states will have the freedom to implement it in different phases. The draft rules are almost ready. New Wage Code can be implemented from October 2022.

What is the New Wager Code?

The government has made 4 new codes by combining 29 central labor laws. These include the Industrial Relations Code, Code on Occupational Safety, Health and Working Conditions Code (OSH), Social Security Code and Code on Wages. But, the biggest change is in the definition of ‘wage’. It has been expanded. The new labor code is aimed at consolidation. 50% of the salary will be directly included in the wages. Let us tell you, new laws related to labor reforms have been passed by the Parliament. Now to implement them.

How will the salary structure change?

According to the New Wage Code Act 2019, the basic salary of an employee cannot be less than 50% of the cost of the company (CTC). At present, many companies reduce the basic salary and give more allowances from above so that the burden on the company is reduced. With the implementation of the New Wage Code, the salary structure of the employees will change completely. The ‘Take Home Salary’ of the employees will decrease, because by increasing the Basic Pay, the PF of the employees will be deducted more, that is, their future will be more secure.

Rules of holidays, pension and working hours will change

According to EPFO ​​board member and Bharatiya Mazdoor Sangh general secretary Virjesh Upadhyay, social security is very important for employees. There are many important aspects to this. There is to be a change in the rules on important issues like working hours of employees, annual holidays, pension, PF, take home salary, retirement.

There will also be a change in PF, Gratuity

Contribution to gratuity will also increase along with Provident Fund. Take home salary will definitely decrease but the employee will get more amount on retirement. The New Wage Code 2022 will also be applicable for the employees of the unorganized sector. The rules related to salary and bonus will change and there will be equality in the salary of employees working in every industry and sector.

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If the Finance Ministry approves this, then there will be a big setback for the employees before Holi. In the midst of inflation, the PF rate event will be a big loss. If this happens, then this will be the lowest rate of PF in the last 40 years. The Finance Ministry has to put the final seal on the decision of EPFO, after which this rate will come into effect. However, despite the cut, the PF rate is still higher than all the savings schemes . To know this, you can see the rates of different schemes.

For small savings schemes, the government announces interest rates every quarter. Earlier it was announced on 31 December 2021, whose period continues till 31 March. There is no such savings scheme which gives more returns than PF right now. There is a difference between investing in the stock market and mutual funds. Talking about the most talked about Public Provident Fund or PPF, right now the general depositor is getting 7.1 percent interest, while senior citizens are getting the interest at the rate of 7.4 percent. A little more than this, 7.6 percent interest is being given in Sukanya Samriddhi, a scheme for daughters.

Monthly Income Account Scheme running for 5 years gives interest at the rate of 6.6 percent to the customers. 5 year NSC pays 6.8% interest. NSC also has a large number of customers as it keeps the accumulated capital completely safe with bumper returns. Same is the case with PPF or Monthly Income Scheme. In fact, the government changes the interest rates of small savings schemes on the basis of earnings from government securities. If the government benefits from securities, then the rates of savings schemes are also increased.

Benefits of Savings Schemes

Long Term Benefits: By investing in savings schemes, one can overcome the stress of his long-term goals like retirement planning, children’s education and children’s wedding expenses.

Different Savings Schemes: The number of savings schemes available at present is huge. These plans cater to the needs of different sections. For example, Pradhan Mantri Jan Dhan Yojana is designed to help people below the poverty line and Sukanya Samriddhi Yojana helps a girl child financially.

Hassle-free: These schemes are very easy to operate and invest and most of the contributions made towards the schemes can be done online.

Security of money: Since the schemes launched by the Government of India, the money deposited in the schemes and its returns are completely safe.

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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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1. LIC premium, PF, PPF, Pension Scheme 

You get all the tax exemptions under Section 80C of Income Tax. For example, if you have taken a policy of LIC, then you can claim its premium. You can get tax exemption under 80C on the principal of provident fund, PPF, children’s tuition fee, national savings certificate, home loan. If you have purchased an annuity plan (pension plan) of LIC or any other insurance company under section 80CCC, then you can claim tax exemption. If you have bought a pension scheme of the Central Government under section 80 CCD (1), then you can claim it. Remember that taking all these together the tax exemption cannot exceed Rs 1.5 lakh. 

2. Claim on Principal Amount of Home Loan

You can avail tax exemption under section 80C on the principal payment of the home loan. However, this limit cannot exceed 1.5 lakhs. So, if your remaining deductions under 80C are less than 1.5 lakhs, then you can claim tax deduction by meeting this limit from the principal amount of the home loan.

3. Tax Deduction on Home Loan Interest 

If you have taken a home loan, you get tax exemption on the interest paid under section 24(b) of Income Tax. According to Income Tax rules, you can get tax exemption on interest payment up to 2 lakhs. This tax exemption will be available only if the property is ‘self-occupied’.

4. Central Government Pension Scheme 

If you invest in the National Payment System (NPS), a central government pension scheme, then you get an additional exemption of Rs 50,000 under section 80 CCD (1B). This exemption 
is on top of the tax exemption of Rs 1.5 lakh availed under section 80 (C). The contribution made by the employer to the pension scheme of the Central Government can be claimed under section 80 CCD2. It has two conditions. First, whether the employer is a Public Sector Unit (PSU), state government or any other, the deduction limit is 10 percent of the salary. If the employer is the Central Government, then the deduction limit will be 14% of the salary. 

5. Health Insurance Premium

If you have taken any health insurance or get regular health checkup, then you can claim the premium under section 80D. Although its limit is fixed. If you have taken a health insurance policy for yourself, spouse, children and parents, you can claim a premium of up to Rs 25,000. In this case the age of the parents is less than 60 years. If your parents are senior citizens, then the tax exemption limit will be Rs 50,000. Health checkup of Rs 5000 is also available in this. However, the tax deduction cannot exceed the premium of health insurance. 

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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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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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Due to this, account holders can get caught in big frauds. If the information about the EPF account is in the hands of fraudsters, then they can take away your earnings from your account. While issuing an alert, EPFO ​​has said that EPFO ​​never asks for the information of Aadhaar, PAN, UAN, bank details from its member.

In such a situation, if someone asks you for such information on phone or social media, then be careful and do not share it at all. Do not respond to such fraudulent phone calls or reply to any such messages. EPFO gave information Issuing an alert for all its users, EPFO ​​wrote in a tweet, ‘Never ask its members to share personal details like Aadhaar, PAN, UAN, Bank Account or OTP over phone or social media.

EPFO further states, EPFO ​​never asks to deposit any amount through WhatsApp, social media etc. for any service. Phishing online fraud It is worth noting that people’s big earnings are deposited in the PF account, which people deposit for retirement expenses. Fraudsters know very well that here they will get a big amount in one stroke, so they attack the account through phishing attack.

Actually, phishing is part of online fraud in which the depositor is tricked, the necessary information related to the account is obtained from them and then the account is cleared.

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