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Latest from provident fund

EPFO keeps interest rates on PF unchanged at 8.25%

Provident funds provide retirement income and a financial safety net for nearly 70-million salaried Indians. It is often the key corpus of lifetime savings for the working people

The decision not to lower interest rates is a welcome move for the EPFO’s subscribers, for whom provident fund is often the only means to save up for retirement. Yet, the existing interest rate is significantly lower than in 2015-16, when it was be 8.8% (HT Photo)

business

Updated on Feb 28, 2025 03:59 PM IST

ByZia Haq

EPFO retains 8.25% interest rate on EPF deposits for 2024-25: Report

EPFO had raised the interest rate on EPF from 8.15% in 2022-23 to 8.25% in 2023-24.

EPFO has reportedly set an interest rate of 8.25% on EPF deposits for 2024-25, PTI reported.(HT Photo)

business

Published on Feb 28, 2025 12:46 PM IST

ByHT News Desk | Edited by Ashley Paul

‘Given my busy schedule…": Robin Uthappa on being accused in PF ‘fraud’ case

Robin Uthappa clarified that he resigned from the directorships of the companies named in the PF case several years ago.

Robin Uthappa has been accused of defrauding employees and the government in the PF case.(AFP file)

india news

Updated on Dec 22, 2024 08:52 AM IST

ByHT News Desk

You can withdraw PF from an ATM starting 2025, announces labour ministry

Labour Ministry Secretary highlighted that the ministry is upgrading IT systems to offer “enhanced services” to the country's extensive workforce.

The Employees' Provident Fund Organisation currently has over 70 million active contributors. (HT Photo) (Pic used for representation)

business

Published on Dec 12, 2024 08:54 AM IST

ByHT News Desk

EPFO 3.0 may allow ATM withdrawal of PF, scrap 12% contribution limit: Report

The Employee Provident Fund Organisation (EPFO) will revamp and introduce multiple policies for the EPFO 3.0 version.

However, discussions regarding all of the new features and policy changes for EPFO 3.0 are currently at the very initial stages.(HT Photo)

business

Updated on Dec 04, 2024 01:43 PM IST

ByHT News Desk | Edited by Abhyjith K. Ashokan

RTI plea uncovers woman’s PF, gratuity fraud

A woman in Lucknow was arrested for forging her late husband's signature to claim his entire Provident Fund and gratuity, revealed by her stepson's RTI.

The accused in police custody (HT PHOTO)

cities

Updated on Nov 30, 2024 05:14 AM IST

ByHT Correspondent, Lucknow

Punjab: Phagwara mill MD booked for firing at protesting employees

The mill employees were protesting over non-payment of salaries, allowances, bonus, clearance of provident fund and other dues that were pending for the last six months

The accused mill MD has been booked under Section 125 of the Bharatiya Nyaya Sanhita. (HT File)

cities

Updated on Nov 14, 2024 05:34 AM IST

ByHT Correspondent, Jalandhar

Delhi: FIR against SpiceJet execs for not crediting employees share in PF account

The first information report (FIR) was registered based on a complaint filed by the Employees’ Provident Fund Organisation (EPFO)

The PF contributions in question were deducted from the salaries between June 2022 and July 2024. (Representational image)

cities

Updated on Oct 06, 2024 06:02 AM IST

ByHT Correspondent, New Delhi

Ludhiana: MC releases final dues of employees who retired in 2023-24

Ludhiana municipal corporation (MC) commissioner Aaditya Dachalwal said the issues of employees working in the civic body and those who have retired should be dealt with on priority basis

Ludhiana municipal corporation (MC) commissioner Aaditya Dachalwal added that rigorous efforts are being made to further improve the financial condition of the civic body and the employees have been directed to expedite the recovery of dues from the residents. (HT Photo)

cities

Updated on Oct 06, 2024 05:12 AM IST

ByHT Correspondent, Ludhiana

FIR on SpiceJet's Ajay Singh, officials surfaces after PF dues paid: Report

An FIR against SpiceJet's Ajay Singh and board members surfaced after the company announced it had cleared 10 months of provident fund dues

A SpiceJet passenger Boeing 737-800 aircraft(Representational Image/Reuters)

business

Published on Oct 05, 2024 05:03 PM IST

ByHT News Desk | Edited by Abhyjith K. Ashokan

SpiceJet clears 10 months of provident fund dues after ₹3,000 crore QIP

SpiceJet deposited ten months' worth of Provident Fund (PF) dues, after its recent payments of Goods and Services Tax (GST) and employee salary arrears

The airline also successfully reached settlements with multiple lessors(Reuters)

business

Published on Oct 04, 2024 06:32 PM IST

ByHT News Desk | Edited by Abhyjith K. Ashokan

Jalkal department’s outsourced staff accuse pvt firm of embezzling PF funds

The private agency has come under scrutiny after reports surfaced that substantial amount of PF contributions, potentially amounting to around ₹90 lakhs, have been embezzled.

cities

Updated on Aug 09, 2024 07:30 AM IST

ByHT Correspondent, Lucknow

Digital dividend for EPFO, subscribers

EPFO envisions achieving global standards in social security by 2047 through strategic initiatives, transitioning from enforcement to facilitation

FILE Photo: Employees provident fund organisation head office

opinion

Published on Mar 19, 2024 09:46 PM IST

ByPoonam Munjal, Palash Baruah

Interest rate for small savings schemes to remain unchanged: Centre

The interest rate for several small savings schemes will remain unchanged for April-June 2024 quarter of the upcoming financial year.

The government announced that the interest rates for small savings schemes will remain unchanged(HT File)

business

Published on Mar 08, 2024 06:49 PM IST

ByVaishnawi Sinha

General PF interest rate to remain unchanged at 7.1% for Oct-Dec quarter

General Provident Fund, or GPF, is a social security scheme meant for employees of the Central government.

GPF is provided to Central government empoyees upon requirement.(AFP)

business

Updated on Oct 05, 2023 04:16 PM IST

ByHT News Desk

Ludhiana: Swindlers impersonate pvt firm staffer to withdraw ₹3.21L from PF, booked

Dugri police registered a first information report (FIR) against the accused, identified as Krishan Kumar of Tibba and Rakesh Kumar of Hargobind Nagar and Pardeep Kumar, on Saturday after investigating the matter for over eight months

cities

Updated on Sep 02, 2023 11:11 PM IST

ByHT Correspondent, Ludhiana

Changed your job? Here's how to change Exit Date on EPFO website

As per existing EPFO rules, an employee changing his/her job needs to enroll as a member for new organisation to transfer the PF from previous account.

EPFO has detailed steps to change date of exit of organisation on changing job.(File)

business

Published on Jul 14, 2023 06:50 PM IST

ByHT News Desk

Himachal assembly in session: Speaker refuses to allow discussion on ‘removal’ of outsourced staff, BJP stages walkout

The issue of “termination of services” of outsourced employees echoed loud in the Himachal Pradesh assembly on Tuesday with the opposition BJP staging a protest and later walking out of the House after their adjournment notice was rejected by the speaker.

Leader of Opposition Jai Ram Thakur along with other BJP MLAs walks out of the Himachal assembly over the outsourced employees issue in Shimla on Tuesday. (Deepak Sansta /HT)

cities

Updated on Apr 04, 2023 10:38 PM IST

ByGaurav Bisht, Shimla

Is your PF contribution by employer delayed? Here's what you should do now

According to Section 7Q of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, an employer will be asked to pay higher interest on the amount due from it from the due date of actual payment.

The Employees Provident Fund Organisation (EPFO) had recently laid out the rates at which damage due to delayed PF contributions will be levied on the employers(MINT)

business

Published on Feb 19, 2023 01:43 PM IST

ByHT News Desk | Written by Aryan Prakash

PPF, other savings schemes to witness interest rate hike? What experts say

The savings schemes include National Savings Certificates, Kisan Vikas Patra, time-deposits, senior citizens savings scheme and the Sukanya Samriddhi Yojana.

Public Provident Fund (PPF) and other small savings deposits may go up soon(REUTERS)

business

Published on Sep 15, 2022 02:40 PM IST

ByHT News Desk | Written by Aryan Prakash

Govt okays 8.1% interest on EPF deposits for 2021-22, lowest in four decades

The new rate of interest on employees' provident fund is the lowest in over four decades, since 1977-78 when it stood at 8 per cent.

FILE Photo: Employees provident fund organisation head office , EPFO office.

business

Published on Jun 03, 2022 07:17 PM IST

ByHT News Desk, New Delhi

No individual can own more than one PPF account: Govt

The department of economic affairs, under the ministry of finance, which has released the circular also asked not to send any such proposal for consideration of merging of PPF accounts opened under the PPF rules, 2019.

According to the PPF rule 2019, a person can't have more than one such account against their name.

business

Published on Mar 03, 2022 08:12 PM IST

Byhindustantimes.com, New Delhi

News updates from HT: PF rules change for Air India employees

Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.

Air India has officially been handed over to the Tata Group after all formalities of the divestment process was completed on January 27.

india news

Published on Jan 29, 2022 04:47 PM IST

Byhindustantimes.com, New Delhi

Govt looking at raising tax-free PF limit to ₹5L

Tax professionals and PF experts, however, said the amendment to raise the threshold limit from ₹2.5 lakh to ₹5 lakh only benefited the government employees, which was discriminatory.

Experts said the new regime provides for grandfathering of earlier contributions.(HT File Photo)

business

Published on Jan 22, 2022 04:43 AM IST

ByRajeev Jayaswal, Hindustan Times, New Delhi

4-day work-week, change in salary: India's new labour codes likely in FY 2022-23

If the new labour codes are implemented, there's a likelihood that employees in India may be able to enjoy a four-day workweek from next year, as opposed to the current five-day workweek.

There would be a reduction in the take-home pay of employees and firms will have to bear a higher provident fund liability. (File Photo / Representational Image)

india news

Updated on Dec 20, 2021 11:19 AM IST

Written by Joydeep Bose | Edited by Amit Chaturvedi, Hindustan Times, New Delhi

Avail benefits of up to ₹7 lakh under EPFO's Deposit Linked Insurance Scheme

Account holders are eligible for assured life insurance benefits, without having to pay any premium.

Employees’ Provident Fund Organisation (EPFO/HT Photo)

business

Published on Dec 05, 2021 03:37 PM IST

Byhindustantimes.com, New Delhi

After EPFO decision, you don’t have to get your PF fund transferred

The EPFO took the decision at the 229th meeting of its top decision-making body, the Central Board of Trustees (CBT), headed by Union labour minister Bhupender Yadav.

The EPFO also announced several other decisions at the Central Board of Trustees meeting. (File Photo)

business

Published on Nov 21, 2021 07:34 AM IST

Byhindustantimes.com | Written by Meenakshi Ray, New Delhi

Why take-home salary may reduce from April 2021 | Explained

The salary costs borne by companies are also likely to go up under these new rules as the companies will also have to contribute more towards PF and gratuity.

Contribution to PF and gratuity are likely to increase from in the new financial year beginning from April 2021. (HT archive)

business

Updated on Dec 10, 2020 01:13 PM IST

Hindustan Times, New Delhi | Byhindustantimes.com | Edited ny Poulomi Ghosh

Businesses hope for rise in demand with tax, PF relief

Sitharaman offered relief to the average consumer by cutting TDS for non-salaried employees by 25% of the existing rates. This, she said, will put Rs 50,000 crore in the hands of these people.

Workers polishing diamonds at Samarth Diamond's factory in Gujarat, India.(via REUTERS)

business

Updated on May 14, 2020 06:31 AM IST

Livemint, New Delhi | ByShuchi Bansal & Suneera Tandon

EPFO allows 30-day grace period to employers for filing e-challan for March

The contributions towards social security schemes - run by Employees’ Provident Fund Organisation (EPFO) - for March was due till April 15, which has been extended till May 15.

The employers have to declare the date of disbursement of wage for March, 2020 in the ECR for the month.

business

Updated on Apr 15, 2020 07:08 PM IST

New Delhi | ByPress Trust of India

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provident fund news

Latest from provident fund

Provident funds provide retirement income and a financial safety net for nearly 70-million salaried Indians. It is often the key corpus of lifetime savings for the working people

EPFO had raised the interest rate on EPF from 8.15% in 2022-23 to 8.25% in 2023-24.

Robin Uthappa clarified that he resigned from the directorships of the companies named in the PF case several years ago.

Labour Ministry Secretary highlighted that the ministry is upgrading IT systems to offer “enhanced services” to the country's extensive workforce.

The Employee Provident Fund Organisation (EPFO) will revamp and introduce multiple policies for the EPFO 3.0 version.

A woman in Lucknow was arrested for forging her late husband's signature to claim his entire Provident Fund and gratuity, revealed by her stepson's RTI.

The mill employees were protesting over non-payment of salaries, allowances, bonus, clearance of provident fund and other dues that were pending for the last six months

The first information report (FIR) was registered based on a complaint filed by the Employees’ Provident Fund Organisation (EPFO)

Ludhiana municipal corporation (MC) commissioner Aaditya Dachalwal said the issues of employees working in the civic body and those who have retired should be dealt with on priority basis

An FIR against SpiceJet's Ajay Singh and board members surfaced after the company announced it had cleared 10 months of provident fund dues

SpiceJet deposited ten months' worth of Provident Fund (PF) dues, after its recent payments of Goods and Services Tax (GST) and employee salary arrears

The private agency has come under scrutiny after reports surfaced that substantial amount of PF contributions, potentially amounting to around ₹90 lakhs, have been embezzled.

EPFO envisions achieving global standards in social security by 2047 through strategic initiatives, transitioning from enforcement to facilitation

The interest rate for several small savings schemes will remain unchanged for April-June 2024 quarter of the upcoming financial year.

General Provident Fund, or GPF, is a social security scheme meant for employees of the Central government.

Dugri police registered a first information report (FIR) against the accused, identified as Krishan Kumar of Tibba and Rakesh Kumar of Hargobind Nagar and Pardeep Kumar, on Saturday after investigating the matter for over eight months

As per existing EPFO rules, an employee changing his/her job needs to enroll as a member for new organisation to transfer the PF from previous account.

The issue of “termination of services” of outsourced employees echoed loud in the Himachal Pradesh assembly on Tuesday with the opposition BJP staging a protest and later walking out of the House after their adjournment notice was rejected by the speaker.

According to Section 7Q of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, an employer will be asked to pay higher interest on the amount due from it from the due date of actual payment.

The savings schemes include National Savings Certificates, Kisan Vikas Patra, time-deposits, senior citizens savings scheme and the Sukanya Samriddhi Yojana.

The new rate of interest on employees' provident fund is the lowest in over four decades, since 1977-78 when it stood at 8 per cent.

The department of economic affairs, under the ministry of finance, which has released the circular also asked not to send any such proposal for consideration of merging of PPF accounts opened under the PPF rules, 2019.

Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.

Tax professionals and PF experts, however, said the amendment to raise the threshold limit from ₹2.5 lakh to ₹5 lakh only benefited the government employees, which was discriminatory.

If the new labour codes are implemented, there's a likelihood that employees in India may be able to enjoy a four-day workweek from next year, as opposed to the current five-day workweek.

Account holders are eligible for assured life insurance benefits, without having to pay any premium.

The EPFO took the decision at the 229th meeting of its top decision-making body, the Central Board of Trustees (CBT), headed by Union labour minister Bhupender Yadav.

The salary costs borne by companies are also likely to go up under these new rules as the companies will also have to contribute more towards PF and gratuity.

Sitharaman offered relief to the average consumer by cutting TDS for non-salaried employees by 25% of the existing rates. This, she said, will put Rs 50,000 crore in the hands of these people.

The contributions towards social security schemes - run by Employees’ Provident Fund Organisation (EPFO) - for March was due till April 15, which has been extended till May 15.

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