Your EPF corpus is your retirement nest egg. The higher this corpus, the better. It depends on your age, contributions, basic salary and the EPF interest rate that the EPFO declares every year.
The Employees’ Provident Fund (EPF) has been one of the best investments to build a tidy retirement corpus. Investments earn us tax deduction benefits, interest and returns are tax free and it’s easy to invest. Over 6 crore people invest in EPF and its corpus is over Rs 10 trillion. Moneycontrol’s EPF guide gives you the nuts and bolts of EPF and offers a glimpse of what the future holds for an investment that every salaried employee loves.
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Employees contributing over Rs 2.5 lakh to their EPF account will feel the pinch of tax on interest on the excess amount this year, as the rules will be implemented when EPFO credits interest for FY 2021-22.
You link the two through the EPFO member portal. Activate your UAN if you haven’t already and log into the account.
Your access to EPF benefits will be suspended until the process is completed. Remittances to your account that will be affected
Limit on tax-free employees' provident fund contributions raised from Rs 2.5 lakh announced in Union Budget 2021
The government's new wage code requires basic pay to be 50 percent of your total salary. Provident fund deductions will, therefore, increase.
Employees earning high salaries can opt for a mix of EPF, PPF and NPS to optimize returns
If you are faced with a financial crunch due to the COVID-19 crisis, you can now dip into your employee provident fund (EPF) corpus. The Employees’ Provident Fund Organisation has opened up withdrawals from the account after receiving government approval. Read on to find out answers to all your questions on withdrawing from the EPF account
Most of the salaried employees love EPF due to tax-free and secure returns, ease of investing and withdrawal benefits. But there is a way to increase the contribution towards EPF and voluntarily contribute more towards the retirement corpus. So, should one opt for VPF? Watch the video to find out.
National Pension System and Employee Provident Fund, both the retirement options are overseen by the government but they differ from each other on various parameters. So, which one is better? And how much money can one withdraw upon reaching the retirement age? Watch the video to find out
The income tax department has indicated that interest income from provident fund contributions over Rs 2.5 lakh will be taxed like fixed deposit interest
Interest earned on provident contributions of Rs 2.5 lakh in a year will now be taxed. Is it time to look for alternatives?
EPFO informed all the concerned people about the electronic facility for principal employers.