PROVIDENT FUND

  • Foreign employees to get PF money in their own countries October 21, 2014

    New Delhi: Retirement fund body EPFO has started a new facility to transfer provident funds of foreign employees to bank accounts in their own countries. The facility will help international workers to avoid opening of bank accounts in India for settling their PF claims with with the Employees' Provident Fund Organisation...
  • Nepal seeks technical cooperation from India for extending Provident Fund September 20, 2014

    New Delhi: Nepal on Saturday sought technical cooperation from India for extending Provident Fund in organised and unorganised sectors in that country. A delegation led by Secretary of Nepal Prime Minister and Employees Provident Fund (EPF), Nepal chief Durga Nidhi Sharma met Union Labour Minister Narendra Singh Tomar and held deliberations...
  • EPFO to pay 8.75 per cent interest on PF deposits in 201415 August 26, 2014

    New Delhi: Retirement fund body EPFO's trustees on Tuesday decided to retain interest payment on provident fund deposits for 201415 at 8.75 per cent. "It has been decided to pay 8.75 per cent interest in the current fiscal," Central Provident Fund Commissioner (CPFC) K K Jalan told PTI after the meeting...
  • Singapore PM wants apology from blogger for corruption charge May 19, 2014

    Singapore: Singapore Prime Minister Lee Hsien Loong has sent a legal notice to a local blogger, demanding the removal of an article accusing him of corruption which had been "published maliciously", local media reported. Roy Ngerng had on his website, The Heart Truths, posted a blog titled "Where your CPF...
  • EPFO approves raising Provident Fund interest rate January 13, 2014

    New Delhi: Retirement fund body EPFO on Monday decided to increase the rate of interest on Provident Fund deposits to 8.75 per cent for 201314, a move that will benefit about 5 crore subscribers. "We have decided to recommend to the government 8.75 per cent rate of interest for 201314 to...
  • Three men get 5yr RI for fraud in PF claims withdrawal January 1, 2014

    Three persons were sentenced to fiveyear rigorous imprisonment each by a special CBI court here for committing forgery in withdrawal of PF claims. The court convicted the three Gajendra Singh Chouhan (who was LDC at EPFO in Bhopal), Pratap Singh (then supervisor in EPFO) and Rajendra Singh Thakur (Gajendra's brother)...
  • Filing online PF account transfer claims on changing jobs becomes a reality October 12, 2013

    New Delhi: The filing of online provident fund accounts transfer claims on changing jobs for subscribers of the retirement fund body EPFO has become a reality now. The facility has been made available as the Employees' Provident Fund Organisation (EPFO) has launched its online transfer claim portal (OTCP) on October 2,...
  • EPFO unveils revised PF transfer form for online transactions July 4, 2013

    New Delhi: Taking the first step towards launch of online PF transfer claim facilities, retirement fund body EPFO on Thursday unveiled the revised transfer claim form for the purpose. The launch of full fledged service of online transfer of provident fund transfer claims would take more than a month, EPFO's...
  • New PF norms will reduce your takehome salary April 20, 2013

    New Delhi: Decks have been cleared for clubbing of allowances with basic pay for PF deductions under the EPFO scheme, a move that will increase savings but reduce takehome pay of over five crore subscribers. A review committee, constituted to look into the nittygritty of clubbing of allowances with basic...
  • Apply online for PF transfer, withdrawals from July 1 April 18, 2013

    New Delhi: Over 50 million subscribers of the retirement fund body EPFO will be able to apply online for transfer and withdrawal of their provident fund from July 1, a move aimed at speedy settlement of claims. "We have decided to set up a central clearance house which will be...
  • RBI notifies new interest rates on PPF, SCSS accounts from April 1 March 28, 2013

    New Delhi: Reserve Bank on Thursday notified 0.1 per cent reduction each in interest rates on Public Provident Fund (PPF) and Senior Citizen Savings Scheme (SCSS) to be effective from the fiscal beginning April 1, 2013. The rate of interest on PPF has been lowered from 8.8 per cent to...
  • EPFO likely to pay 8.5 pc interest for 201213 February 15, 2013

    New Delhi: Over five crore subscribers of the retirement fund body EPFO are likely to get 8.5 per cent return on their investment during 201213, higher than 8.25 per cent paid in the previous fiscal. "... 8.5 per cent rate of interest for the year 201213 is feasible", said a...
  • Takehome salary set to get cut, more money to go to PF December 11, 2012

    New Delhi: A fresh decision by the Employees' Provident Fund Organisation (EPFO) is slated to slash the takehome salary of those in service. The EPFO has decided that Provident Fund of an employee will now not be deducted on just the basic salary, but will now be calculated on the...
  • PF account statements now just a click away December 1, 2012

    New Delhi: Over 50 million provident fund subscribers can now access their account statements online as EPFO on Friday launched its ePassbook service. Active subscribers whose electronic challancumreturn is already uploaded, can download their ePassbook every month under the service launched by the EPFO's Central Provident Fund Commissioner RC Mishra...
  • PF account statements now just a click away November 30, 2012

    New Delhi: Over 50 million provident fund subscribers can now access their account statements online as EPFO on Friday launched its ePassbook service. Active subscribers whose electronic challancumreturn is already uploaded, can download their ePassbook every month under the service launched by the EPFO's Central Provident Fund Commissioner RC Mishra...
  • EPF interest rate to be raised to 8.6 pc April 26, 2012

    New Delhi: Interest rate on employees' provident fund will be increased to 8.6 per cent for the current fiscal, a move which will benefit around five crore subscribers. "The rates were brought down due to lower income (on investment in Special Deposit Schemes)...There is no question of minimum or maximum interest...
  • Govt to cut EPF rate from 9.5 pc to 8.25 pc March 15, 2012

    New Delhi: Government on Thursday slashed interest rate on deposits in Employees Provident Fund from 9.5 per cent to 8.25 per cent for 201112 affecting over 4.7 crore subscribers. This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said. The Employees' Provident...
  • Online PF account details from July 1 June 8, 2011

    Kolkata: The Employees Provident Fund Organisation (EPFO) on Wednesday said account details would be available online from July 1. "You can watch the account balance of your PF online from July 1," Assistant PF Commissioner Kanchan Roy said at an interactive session at Bengal National Chamber...
  • EPFO for 9.5 pc interest; to avoid bourses February 15, 2011

    New Delhi: The Employees Provident Fund Organisation (EPFO) on Tuesday stuck to its decision that about 4.71 crore subscribers of the pension fund get one per cent increase in interest on their deposits for 201011, pegging the rate of interest at 9.5 per cent. The Central Board of Trustees of...
  • EPFO stops investments in LIC Housing Finance December 9, 2010

    New Delhi: Retirement fund manager EPFO on Thursday decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribesforloans scam. "As of now we have suspended further investments in the LIC Housing Finance. Safety of fund is...
  • EPFO raises PF interest rate to 9.5 per cent September 15, 2010

    New Delhi: In what may be a windfall for crores of employees in public and private sector, the Provident Fund Trustees on Wednesday decided to give a higher interest rate of 9.5 per cent for 201011 on their retirement savings. The steep one percentage point increase has taken the interest on...
  • Provident Fund scam: 3 exHC judges named July 4, 2010

    New Delhi: The CBI probing the infamous Ghaziabad Provident Fund (PF) scam has chargesheeted three former judges of the Allahabad High Court of illegally siphoning off provident funds of ClassIV employees of the Ghaziabad district court. The CBI on Saturday filed chargesheet against 78 people, including three former judges of Allahabad...
  • SC orders probe into death of PF scam prime accused October 20, 2009

    New Delhi: The Supreme Court on Tuesday has directed a judicial probe into the death of 43yearold Asthana, prime accused and a key witness in the Ghaziabad multicrore provident fund scam. The court also ordered the UP government to provide protection to all other witnesses in the case. This...
  • SC orders viscera of PF scam accused be handed to CBI October 20, 2009

    SC directs handing over of viscera of Ashutosh Asthana to CBI New Delhi: The Supreme Court on Tuesday directed the CBI to take possession of the viscera samples of Ashutosh Asthana, prime accused in the multicrore PF scam, who died mysteriously in Ghaziabad's Dasna jail. A special bench headed by Justice D...
  • Retail chain Subhiksha under EPFO scanner February 11, 2009

    New Delhi: The Employees' Provident Fund Office has initiated an inquiry into the retail chain Subhiksha even as its top management quit. Subhiksha is being investigated for nonpayment of Provident Fund dues to its employees. Subhiksha Managing Director DR Subramanian said that the inquiry by EPFO against Subhiksha are for nonpayment...
  • Wealth Spl: All you wanted to know about CTC January 21, 2009

    I have never understood my payslip till date, says Avni Rustagi, a native of Punjab. Avni, 25, moved to Bangalore four years back in the hope of turning her dream into reality. To make her dream a reality, she has been working as a designer with an Information Technology firm...
  • 40 lakh private PF subscribers may lose tax benefits January 6, 2009

    New Delhi: Over forty lakh employees affiliated to over 2,500 private provident funds face the threat of losing income tax benefits on their PF contributions, as the government seems to be having second thoughts over giving these bodies permanent recognition. Taking a plea that privatelyrun PFs are violating investment accounting norms, the...
  • Wealth: Save tax while job hopping, transfer PF! November 20, 2008

    When you take up a new job, should you transfer your PF amount from your former employer to the new company or should you simply withdraw the amount? How does it impact your tax outgo? wealth solves this reader's query. I worked in a nationalised bank for three and a half...
  • Wealth Special: How to get your tax refund fast! October 16, 2008

    In January 2005, Ruchi Das resigned from her stint as a newspaper journalist to join an online media company. Her provident fund (PF) balance was worth Rs 38,500, and she wanted to transfer this amount to her new employer's PF account, since a withdrawal before five years would be taxed. In January...
  • SC asks CBI to take over Ghaziabad PF scam probe September 23, 2008

    New Delhi: In a tough act against corruption in the higher judiciary, the Supreme Court has ordered a CBI probe into the Ghaziabad illegal Provident Fund withdrawal scam. The Rupees 23 crore worth scam allegedly involves 34 judges including those from the High Court as well as the Supreme Court. Last month,...