UAN (Universal Account number) Launched for EPFO Subscribers

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...

...read more

Tax Deduction on EPF Withdrawal

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.

...read more

Understanding UAN (Universal Account number) and its effect on PF Withdrawal / Transfer

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 ...

...read more

Frequently Asked Questions on EPF Withdrawal

Here are some of the Frequently Asked Questions from our readers -

  1. What is the minimum required "period of service" to be eligible for EPF withdrawal?
    Ans:- For EPF withdrawal, there is no minimum limit on period of service. But for EPS, it is 6 months. You will not be eligible for EPS - Pension fund, if you have resigned before 6 months.

...read more

Interest rate on EPF deposits for year 2014-15

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.

...

...read more

Useful Personal Finance Blogs

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.

...read more

How Income Tax Authorities Track Your Income and Taxes Paid (TDS) - Form 26 AS

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 -

Even before you file your returns, Income Tax authorities know your earned income and taxes paid / remaining to be paid on that income.

They get all this data...

...read more

EPF Transfer Online - Online Transfer Claim Portal (OTCP)

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.

Eligibility for Online PF Transfer OTCP

To avail this facility, there are only 2 prerequisite conditions -

...read more

Simple EPF balance (PF balance) calculator

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 ...

...read more

Employee Provident Fund (EPF/PF)

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...

...read more