Interest rate on PPF and other small savings schemes like Kisan Vikas Patra (KVP), Sukanya Samriddhi Account, Senior citizens savings scheme, etc. have been reduced drastically from April 1, 2016 as the government has decided to shift to a lower overall interest rate regime.
In case of PPF, interest rate will be 8.1% from April 1 to June 30, down from the earlier 8.7%. Sukanya Samriddhi Account ...
EPFO has proposed to raise the interest rate on EPF deposits to 8.95 % for the current financial year 2015-16. The interest rate in the previous financial year was 8.75%.
The proposal is a bonaza to the working class, especially because it comes at a time when government is expected to lower the interest rates of many small saving schemes such as public provident fund, national savings ...
When I last visited SBI on 1st June, 2015, I came to know that they are opening the Sukanya Samriddhi Account. I noted down the details and applied for one. Here are the details for the same -
Many of my friends have mentioned about their PF contribution changing from Rs 780 to Rs 1800 from September 2014 onwards (without any salary revision / increase) and have been wondering about the cause for this.
The increased EPF contribution is a result of EPFO decision to raise the PF wage ceiling to Rs 15,000 from Rs 6,500.
In Aug 2014, EPFO decided to raise the wage ceiling for becoming a subscriber of EPFO to Rs 15,000 from Rs 6,500. The details can be found in my previous article. This decision took effect from September 1st, 2014 onwards.
One fallout of the decision is that the EPS share which my company was contributing every month got ...
I received this sms from EPFO yesterday, "Dear member, Rs xxxxx for 10/2014 has been credited in your epf account".
It is a good initiative by EPFO to send a sms alert everytime a credit happens in the EPF account. This way its easier to keep a check on my EPF account transactions. Along with sending a monthly sms alert, EPFO is also updating the e-passbook monthly. You can go to UAN portal and ...
Much awaited UAN service has been launched by EPFO on 16 Oct, 2014. Many of you might have received a sms stating the same - "Congratulations on getting portability facility for EPF account. now you can operate your account without any intermediation. Narendra Modi."
To begin the effective delivery of services through UAN portal, EPFO has launched the UAN programme with the following services...
Readers on this blog have asked this question, times and again, "What are the tax implications on EPF withdrawal?" Since the responses to such questions are all hidden in comments, I decided to write a separate post on the same.
Universal PF Account number has become a reality now, thanks to the untiring efforts of EPFO, India. A unique Universal Account number (UAN) has already been allotted to all contributory members of EPFO and its services are expected to become operational from October 16, 2014. Right now EPFO is in the process of integrating KYC details with the UAN of each employee.
You might have already heard ...
Here are some of the Frequently Asked Questions from our readers -