Interim Budget 2024: Will Centre raise minimum pension amount under Atal Pension Yojana? Here's what we know

Interim Budget 2024: Will Centre raise minimum pension amount under Atal Pension Yojana? Here's what we know

Union Finance Minister Nirmala Sitharaman will read out the Interim Budget 2024 on February 1. Though there is a clear indication that the Centre may not declare major changes in the taxation system like last year, there is a buzz that the Cente may bring in some modifications in the Atal Pension Yojana. Government sources … Read more

Morning Digest | New 6.4 magnitude earthquake hits Turkey’s Hatay province; EPFO issues guidelines to opt for higher pension, and more 

Morning Digest | New 6.4 magnitude earthquake hits Turkey’s Hatay province;  EPFO issues guidelines to opt for higher pension, and more 

A view of people on a road after an earthquake in Antakya in Hatay province, Turkey, February 20, 2023. | Photo Credit: REUTERS New 6.4 magnitude earthquake hits Turkey’s Hatay province A 6.4-magnitude earthquake was recorded on February 20, 2023, in Turkey’s southern province of Hatay, the hardest hit by a February 6 tremor which … Read more

Amid pleas for higher pension, EPFO staff ask head office for guidelines on Supreme Court order

Amid pleas for higher pension, EPFO staff ask head office for guidelines on Supreme Court order

Employees’ Provident Fund Organisation headquarters in New Delhi. File | Photo Credit: KAMAL NARANG Without any guidelines to implement the recent Supreme Court order on higher Provident Fund (PF) pension, the staff in various offices of the Employees’ Provident Fund Organisation (EPFO) have asked their head office for a “direction” to address the queries from thousands … Read more

Panel backs raising monthly EPFO wage ceiling to ₹21,000

Panel backs raising monthly EPFO wage ceiling to ₹21,000

A high-level committee has backed a proposed increase in wage ceiling under the Employees’ Provident Fund Organisation (EPFO) to ₹21,000 a month from the current ₹15,000. The committee has, however, said the government can implement the increase from a later date considering all inputs. The proposal, once implemented, will bring an estimated 7.5 million additional … Read more

EPF rate cut will force India’s salaried class to rework their retirement math

EPF rate cut will force India’s salaried class to rework their retirement math

The reduction in interest rate on employee provident fund deposits underlines the need for the salaried class to start retirement planning early in the career and consider a diversified portfolio to invest their savings, say experts. “The magic of compounding works wonders in terms of quantum of savings and helps limit (to some extent) the … Read more

Government allows bulk transfer of provident fund from exempted establishments

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In a move aimed at improving the ease of doing business, government has allowed bulk transfer of provident fund from exempted establishments to the Employees‘ Provident Fund Organisation in one go. The move is expected to benefit 1500 exempted establishments of EPFO. Till now exempted establishments had to approve and transfer the funds one-by-one for … Read more