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Last year's interest has not yet been received in the Employees Provident Fund i.e. PF account. Due to this, crores of account holders are disappointed. Do you know when and how interest is added to PF account?
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Provident Fund is a great option for retirement planning. You can withdraw money from this account to meet unforeseen circumstances . When should you withdraw money from PF, what is the process?
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According to a statement by the Ministry of Labour and Employment on this matter, the gross new enrolments in EPFO in May, 23 stood at around 8.83 lakh, which is the highest during the last 6 months
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Under EDLI, if an employee dies for any reason during his service period, his nominee receives a insurance benefit of up to Rs 7 lakh
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PPF has been the preferred option both for retirement and for investment for children. Apart from all benefits, a cheaper loan can also be raised on the PPF deposit during emergency
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The money withdrawn from PF before completing 5 years of service is added to the annual income. Tax has to be paid on this amount according to your tax slab.
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Aatmanirbhar Bharat Rojgar Yojana: This scheme is being implemented through EPFO to reduce the financial burden of the employers of various sectors
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Investment in PPF, interest earned on it, and the amount received on completion of the maturity period, all three are completely tax-free
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From PF advance to up to 75% withdrawal, EPFO has announced a number of facilities for its subscribers amid Covid outbreak
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If you move from one organisation to another, you must get your PF account transferred as soon as possible
