epf trusts

The Delhi High Court on Tuesday issued a formal notice on an application filed by Priya Kapur, who has sought permission to access late businessman Sunjay Kapur’s Employees’ Provident Fund (EPF) accounts to pay the school fees and educational expenses of his children, Samaira and Kiaan, with former wife Karisma Kapoor.

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.

Nearly 1,500 private employee provident fund trusts set up by companies for administration of their employee provident funds (EPFs) will have to ensure that the rate of interest declared by them is at par or higher than that declared by the Employee Provident Fund Office (EPFO).

The rate will be formally notified by the Government of India, after which the Employees' Provident Fund Organisation will credit the interest to subscribers’ accounts.

New Delhi, Jun 25 () Retirement fund body EPFO may bring 500 private PF trusts within its fold whose EPF accumulations are around Rs 1 crore each, or have up to 20 members, for offering better services to those subscribers.

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.

Anu, who had moved to Pune five years ago and had taken up a new job, was surprised to hear from an ex-colleague and friend, who reminded her to transfer her dormant employee provident fund (EPF) account to that maintained by the new employer.

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.

New Delhi, Jun 13 () Retirement fund body EPFO has asked its field offices to ensure that the firms running private PF trusts are not investing the accumulated provident funds of employees in their own arms and entities.

In an exceptional move, the EPFO split the interest rate payment this year. This is what it means for you.

The development comes a day after power employees staged a protest at Shakti Bhawan, the UPPCL headquarters, here.

NEW DELHI: Private companies will have to pay from their pockets to give 9.5 per cent return on the Employees Provident Fund from their trusts.

The money in the ESI and EPF accounts of the emp-loyees engaged in sanitary and security services at PMCH is not being deposited properly.

All AAI employees were then asked to enroll into an Employees' Provident Fund ((EPF) Scheme. Members of the CAEG contended that they were governed by CCS Pension Rules. Moreover, as government employees, they were not entitled to the EPF scheme.

In March 1996, the EPS Act was amended to allow members to raise pension contribution to 8.33% of full salary (basic + DA) irrespective of what the salary is. This raised the pension, multiple times. Courts ruled that employees must be allowed to raise their pension contribution whenever they wish to.

India's EPF and EPS offer salaried workers a secure retirement. EPF facilitates long-term savings with an annual interest rate, while EPS provides a regular pension after 10 years of service. Both schemes, governed by the EPF Act, 1952, ensure financial stability post-retirement.

Check PF balance online through EPFO portal with just few simple steps mentioned below in the article.