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 -
The Employees' Provident Fund Organisation (EPFO) has announced to keep the EPF interest rate at 8.75 per cent, same as the previous year, for the current fiscal year (2014-15). The announcement came on 26th Aug,2014 at a meeting of the Central Board of Trustees - the apex decision making body of EPFO. However, this decision would be implemented only after the approval of the Finance Ministry.
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If you search on net you will get a hundred financial websites or blogs but most of them contain half baked knowledge. The information provided on such sites is usually copied with no original and creative inputs of their own. There are so many of them that even after spending hours trying to gain insight on a topic, in the end you might come out with no better understanding than before.
Do you know that Income Tax authorities have your income data and taxes paid data even before you file your returns ? It might sound shocking at first but the fact remains -
They get all this data...
Employees Provident Fund Organisation (EPFO) started the facility of online transfer of EPF balance in 2014. Online Transfer Claim Portal (OTCP) is the portal where you can apply for online transfer of EPF balance. EPFO has made the process pretty simple. Let us look into it.
To avail this facility, there are only 2 prerequisite conditions -
This is a basic EPF balance (PF balance) calculator which will answer your question - "How much EPF amount (including interest) will I get if I withdraw my EPF now?" This calculator will work in the case when both Employee and Employer Contribution remain fixed throughout the period of employment (i.e. not a percentage of basic salary). Please note that in this basic EPF calculator it has been ...
Being a salaried employee, Employee Provident Fund (EPF) is an integral part of our lives. And why not, a part of our salary is deposited every month to the Employees Provident Fund Organisation (EPFO) so that we have access to a decent amount at the time of retirement. Despite being such an important investment tool, there are many facts and processes about EPF on which not much clarity is there...