epf accounts

Faulty Employees’ Pension Scheme (EPS) records may affect your pension benefits, denial of pension, or even complications in future EPF withdrawals or transfers.

A large section of today’s workforce earns more than ₹15,000 but remains outside compulsory social security coverage. Raising the EPF wage ceiling seeks to bridge this gap by aligning statutory coverage with present day wage realities.

Higher EPF, changing tax breaks, and unclear timelines — this appraisal season is anything but routine. Here’s how to read the fine print before you sign.

The labour department has initiated proceedings against 203 contractors and outsourcing agencies in Noida for violating the Contract Labour Act, including withholding wages and overtime pay. These agencies face blacklisting and licence suspension, with orders to disburse Rs 1.16 crore owed to workers. The probe followed a violent industrial protest.

Noida witnessed massive industrial worker protests over wages, escalating into widespread violence, arson, and vandalism across multiple sectors. Authorities are investigating potential links to organized misinformation and even Pakistan-backed destabilization attempts, while also flagging a possible Naxal revival.

Assam Congress chief Gaurav Gogoi declared assets worth Rs 7.57 crore in his nomination affidavit, a significant increase from 2024. His wife, Elizabeth Clare Gogoi, holds the larger portion of their wealth, including substantial investments and jewellery. Gogoi also declared immovable properties and a pending case related to the Bharat Jodo Nyay Yatra.

Millions of salaried employees in India often accumulate multiple epf accounts due to job changes, leading to dormant savings. The EPFO's Universal Account Number (UAN) system simplifies consolidating these scattered accounts. Retrieving and linking old epf accounts under your UAN ensures your retirement savings are accessible and continue to grow with accrued interest.

EPFO enables automatic EPF account transfers for job changes, streamlining PF balance transfers. Awareness of this service is low. Various entities confirm its functionality since 2017. Exempted PF trusts and private provident fund trusts are excluded from this automated process.

EPFO simplifies EPF account KYC with online 'joint declaration' on Member e-Sewa, allowing members to update details and prevent rejection of withdrawal requests due to discrepancies in official documents like PAN, Aadhaar, and EPFO records.

Employees with multiple UANs can merge epf accounts through the Member Sewa portal. Get the old account attested, use OTP, and comply with KYC requirements. Check the portal for merger status or email uanepf@epfindia.gov.in for EPFO verification.

The labour ministry has relaxed the definition of 'inoperative' employee provident fund (EPF) accounts, which do not earn any interest. Now, if an EPF account lies idle for 36 months or more, it will not automatically be treated as inoperative, but will continue to accrue interest.

Employees' Provident Fund (EPF) or Provident Fund (PF) is a mandatory contribution of an equal amount by employee and employer towards an account which can be availed at the time of retirement or change of job.

Employees should understand their employer's EPF setup for optimal tax benefits. Contributions to epf accounts managed by EPFO or an exempted trust offer advantages. Unexempted EPF trusts have tax implications. Employers' role in managing EPF schemes is crucial, affecting tax benefits. Knowledge of the EPF withdrawal process and account access enhances financial planning.

EPF members experiencing delays in withdrawal claim processing. Some turn to social media complaints. EPFO suggests 20-day processing time. Ensure accurate form completion and updated KYC info for smoother claims.

In a sudden development, the government has introduced restrictions for withdrawing funds from your own employee provident fund account. The age limit for withdrawal on retirement has been increased from 55 years to 58 and only partial early withdrawal is now permitted.

The Employee Provident Fund Organisation (EPFO) has made it mandatory to link Aadhaar number to Employee Provident Fund account.