In the budget of 2015-16, the government had announced that they will allow funds to be transferred from Employee Provident Fund EPF to NPS or National Pension Scheme. Finally, this has arrived, now you can Transfer EPF TO NPS. This is like one-way portability between two different superannuation schemes. And finally this last Monday, 06Read More
employee provident fund
EPF Rate Cut – Is It Still Attractive
The rates are falling everywhere (except the US) and so EPFO also finalized the interest rate to 8.65% pa for 2016-17. This is a fall of 15 bps (1%=100 basis points) as earlier it was an 8.8%. The EPFO (Employees Provident Funds Organisation), has roughly 17 crore accounts and every year they take a view on the prevailing rates and announce for any new cut or increase.Read More
Rules for Withdrawal of EPF – All Scenarios
Rules for Withdrawal of EPF are available on a number of platforms, but rules related to withdrawal are still unclear. The subscribers especially those who are in private jobs are not made aware by the employers about the EPF withdrawal rules. For employees who have been in the workforce from before 2014, a part ofRead More
Step by step process to get your online EPF Passbook
Expecting the government offices to go digital is good but we all know how they move in this aspect. I was surprised to see news on the fact that now the facility of online EPF Passbook has materialized ! The EPFO is the only social security scheme in India for workers and employees. Workers earningRead More
How to check your EPF balance online
Here is a small primer on how to check your EPF balance online. There have been some questions on how to do this and what the SMS from bz-epfo that comes to your mobiles mean. More on this in a bit. The EPF (Employee Provident Fund) is a compulsory retirement fund account to be openedRead More
Impact of EPF interest rate cut
If you were planning for your retirement and depended heavily on the Employee Provident Fund (EPF), then it is time you did your financial planning again. The government has brought down the interest rate on EPF and has left many salaried employees who get EPF a bit peeved. Suddenly, there are other investments out thereRead More