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FM awaits EPF board's 9.5% interest plan

The finance ministry is awaiting a formal proposal from the Central Board of Trustees of the Employees Provident Fund for implementing the enhanced rate of interest of 9.5% for 2004-2005.

CAG discovers Rs 1,336 crore gap in EPFO books

The PF office has admitted that such negative balances resulting from "overdrawal" of funds are "adjusted" while calculating the next year's PF rate.

EPFO to study stock market investment alternative

Following strong opposition from unions in view of the volatile nature of stocks, EPFO has so far refrained from investing in stock market.

What is the actual post-tax return on different investments? Find out

The actual annualised returns of financial instruments vary from the quoted rates due to different methods of calculations involved and taxation rules.

Jenas need to raise equity exposure, link investment to goals

The Pune-based Jenas need to use their surplus in a planned manner to be able to achieve their goals.

EPFO taking legal action against cos for not meeting UAN norms

EPFO has started taking legal action against employers who are not complying with its guidelines on the Universal Account Number (UAN) for employees

EPF interest rate cut ruled out

Much to the relief of employees, Labour minister, Sahib Sigh Verma ruled out a further cut in the interest rate on EPF presently at 9.5%.

Inspector raj set to be history with Modi govt's first big-bang labour reform

Under the programme, the labour ministry is setting up a 'Shram Suvidha', and will unveil a new 'Labour Inspection Scheme' on Thursday .

Inspector Raj set to be history with new labour reforms

Under the programme, the labour ministry is setting up a 'Shram Suvidha', and will unveil a new 'Labour Inspection Scheme' .

Govt unlikely to slow down on labour reforms in 2018

The codification of the labour laws will remove the multiplicity of definitions and authorities leading to ease of compliance.

Family Finances: Iyers need to prepay loans, stagger investments to achieve financial goals

"I want to know how to repay my loans at the earliest and amass funds for my financial goals.” — Sivakumar Iyer.

Eight money tips to help young earners plan their finances

The twin behavioural devils of ignorance and procrastination push most people into their 30s before they get down to streamlining their finances.

Election 2014: UPA to woo workers with new minimum wage, pro-staff PF & ESIC rules

The sops for workers include a new minimum wage, an assured minimum pension and higher salary ceilings for several employment benefits.

Govt turns Left on EPF, to hike rate for a year

The government looks set to give in to the pressure from the Left to revise the interest rate on EPF.

EPF net to be widened, pink slip insurance likely

Call centres, cellphone operators, medical transcriptions and a host of new generation services are set to be brought under the EPF net with the government proposing amendments to the EPF & MP Act 1952.

Trade unions unappeased after meeting PM Narendra Modi in absence of any concrete assurance

On the eve of the 46th Indian Labour Conference, PM Narendra Modi met leaders of trade unions and heard their views on economic policy,

EPFO puts on hold decision to make Aadhaar must for new accounts

Late last month, EPFO decision drew flak from trade unions, following which the body has now decided to put it on hold.

Early start will help Shastris secure financial future

Manish Shastri will be able to achieve his goals if he ups his equity-exposure, secures all his risks & maintains discipline in investing.

Stay invested in stock market rather than trying to time it: Prateek Pant, Sanctum Wealth Management

While there is no good time to enter the stock market, it’s important to stay invested and add to positions regularly, instead of trying to time it.

Gujarat's GIFT City attracts global IT/ITeS firms

More than 500 employees are working in some of the leading institutions that have already begun operations in GIFT domestic zone as well as in GIFT’s SEZ area.

How Congress-ruled UPA can use Narendra Modi to stem rupee slide, revive economy

It is time to be bold and take tough decisions to revive India’s growth, strengthen macroeconomic balance and stem the rupee’s slide.

Why you should know about yourself before investing

The first step before investing is to analyse your own life. Then comes the financial goals, and then follows the type of investment.

PFRDA takes aim at National Pension Scheme taxation, bats for level-playing field

PFRDA has been batting for EEE status for NPS. Under the current rules, the NPS corpus is taxable at the time of withdrawal.

Labour Ministry hopeful on passage of 3 bills in current session

After expressing strong optimism over clearing of as many as nine bills in the Winter Session, the Labour Ministry is now pinning hopes on passage of only three bills in the ongoing session of Parliament.

Best performing NPS funds for different asset allocations at the start of FY 2018-19

NPS investors usually invest in a mix of 2-3 different funds. ET Wealth identifies the best performing funds for four asset allocations.

How to compute returns for your investments

Computing returns from insurance products are complicated. One can compute returns from endowment plans (or traditional plans) only after the time period comes to an end.

Finance Minister wants EPFO to retain 8.75% interest rate for FY16

Sukanya Samriddhi Scheme currently gives the highest interest rate of 9.2 per cent to incentivise the people investing in the name of girl child.

WhiteInc developing iOS and Android app to reclaim dormant PF through smartphone

If you are struggling to reclaim your dormant provident fund, WhiteInc is developing iOS & Android app to reclaim dormant PF through smartphone.

Why investing in sovereign gold bonds for child's marriage could be a bad idea

Each investment in this alternative instrument to buying physical gold is for an eight-year tenure, with a lock-in period of five years.

Labour Ministry slows down on labour reforms push

The Industrial Code Bill combines Industrial Disputes Act, 1947, Trade Unions Act, 1926, and the Industrial Employment (Standing Orders) Act, 1946.

need2know: 9 macro cues for your day on D-Street

The government has tightened the Insolvency and Bankruptcy Code (IBC) through an ordinance

EPFO likely to announce interest on PF for 2015-16 on November 24

After the approval of Finance Ministry, the rate of interest is notified and credited to the accounts of over five crore subscribers of the body.

Let workers migrate to the New Pension System

Government should remove discriminatory tax treatment of the NPS and harmonise the tax treatment of all long-term savings schemes.

Settlement delays by EPFO not to affect interest payout

The PF office has been asked to ensure that employees are not penalised for its inability to settle accounts in a timely manner.

Full tax exemption for NPS: Jayant Sinha says assessing revenue loss

The government will have to assess the possible revenue loss before providing greater tax incentives to the National Pension System, Minister of State for Finance Jayant Sinha has said.

Government may make UAN mandatory for EPFO subscribers

The UAN remains portable throughout the lifetime of an employee and they don't have to apply for PF transfer claims at changing jobs.

EPFO’s Rs 1,000 pension scheme to start soon

Months ahead of elections, EPFO has fast tracked a proposal to provide a minimum monthly pension of Rs1,000 to its subscribers.

How to pay less income tax post Budget 2017 and beyond

Nothing in this world is certain except for death and taxes, a saying goes. However, you can soften the blow from the latter, completely legally.

EPFO asks its field offices to ensure compliance by BSNL

As per a report submitted by the BSNL, as many as 3,469 casual labourers (including those having temporary status) were working in the company in 2014.

Rana Kapoor’s Budget: Increase direct tax incentives, enable lower cost of funds

On the direct taxes front, the 80C limit can be increased to Rs 3 lakh from Rs 1.5 lakh; this will also help deepen the MF industry and capital markets.

CITU protests EPFO's move to suspend minimum pension scheme

The retirement fund body's has decided to suspended the minimum monthly pension scheme from this month, which will hit about 32 lakh pensioners.

BJP’s conclave to focus on ‘mission good governance’

The party’s three-day meeting of the national executive and national council, starting January 17, will focus on ‘mission good governance’.

Narendra Modi government may allow EPFO to invest in markets, Rs 6,000 crore to flow into stocks annually

Proposed change in norms may funnel Rs 6,000 crore annually into stocks, making PF body second-biggest domestic investor.

EPFO updates 15.54 crore PF accounts for 2014-15 on April 1

The Employees' Provident Fund Organisation (EPFO) is required to update PF accounts for a fiscal till September 30 after the end of that financial year.

More companies should shift employee retirement savings from Employees’ Provident Fund

As EPF is mandated for employees with monthly salaries up to Rs 6,500, large cos have given their better-paid employees a choice to join the NPS.

Employees' Provident Fund Act amendments will bring more people under coverage: Bandaru Dattatreya

"The main proposal is to bring coverage to every establishment employing ten or more people, down from the 20 now," Bandaru Dattatreya said.

Family Finances: Waman Prabhu must streamline income, expenses for smoother financial journey

I want to know if any change is required in my mutual fund investment as well as insurance purchases, Waman Prabhu

Boost economy, rupee will move up in tandem

Once markets are thus encouraged to respond to fundamentals rather than to foreigner whim, the positives of US recovery for India will filter through.

Have you done your tax-saving right?

Calculating your tax liability correctly and using the tax breaks offered under Section 80C are few points to check during your tax-saving exercise.

Labour Ministry assures updated laws in six months

Labour ministry has set itself strict deadlines to bring about legislative and procedural changes to decades-old labour laws, despite stiff opposition from trade unions.

EPFO settles 1.19 crore claims this fiscal so far

Retirement fund body EPFO has settled 1.19 crore claims in the current fiscal year so far.

EPFO likely to raise maximum insurance cover to Rs 5.5 lakh

EPFO is likely to increase the maximum amount assured under its Employees' Deposit Linked Insurance Scheme to Rs 5.5 lakh.

Why big changes are needed at EPFO

As far as its members' interests are concerned, the EPFO should set its equity accounting house in order before the mess becomes any bigger.

Trade unions against increasing minimum pension, retirement age

The pensioners said that the proposed move was unjust and against the promises made to the crores of pensioners across the country.

How you can make the most of the Rs 1.5 lakh tax deduction limit

You can claim deduction for principal repayments of house loan & up to two children's tuition fees paid for to an Indian institution.

EPFO Kandivili office worst in settling pension claims in April

EPFO's Kandivili (Mumbai) office in April settled only 18.45 per cent of the total pension claims within the prescribed 30-day period.

Ease of doing business: Project nod at the click of the mouse for investors

Also, over the next few weeks, 10 states — from Maharashtra and Tamil Nadu to UP and West Bengal — are expected to join a one-stop clearance platform.

Change.org seeks to empower people to create the change they want: Jennifer Dulski, COO & President

We've seen several politicians respond directly to campaigns on the platform here in India and it is happening more and more around the world, says Jennifer Dulski.

Looking to save tax? Don’t be taken in by hype on Section 80 C

Advisors say importance of the Rs 1-lakh exemption limit might be overdone. In reality, one doesn’t gain much under the clause.

need2know: 10 macro triggers that market would watch today

Retirement fund body EPFO may give its subscribers an option to allot a higher proportion of PF money in equity

Banerjees need to invest aggressively in equity to ensure financial security

"My company provides me a health cover and an accident disability plan. Do I need to buy more insurance?” — Saikat Banerjee

Educomp defaults on provident fund payments, says 'delay brought upon by stress'

Educomp has defaulted on provident fund remittance relating to about 15,000 employees, for the first six months of current financial year.

Rate cut? EPF board likely to meet on May 31

Under mounting pressure from the Finance Ministry to reduce the "unsustainable" 9.5 per cent interest on Empolyees Provident Fund (EPF), the Central Board of Trustees of EPF is likely to meet on May 31 to take a view on the rate to be paid for the current year.   Petrol, diesel prices slashed by over Re 1 per litre   RBI expects inflation rate to turn soft from Q2   GTL calls off Redington deal     HOT! The Karishma Row The TV Biz CAS Files More

EPFO seeks 'Aadhaar' card details from members

EPFO said it is in the process of collecting "Aadhaar" card details in respect of its Provident Fund and Family Pension members.

EPF rate cut: Govt to wait for panel’s recommendation

On Thursday, junior labour minister Vijay Goel told the Rajya Sabha, in reply to a question, that the government has no plan to cut the Employees Provident Fund (EPF) rate.

AITUC seeks Labour Minister's intervention to fix PF rate

All India Trade Union Congress has sought Labour Minister's intervention in fixing rate for 2012-13 on provident fund of over 5 million subscribers.

Withdrawing unpopular ETF tax was a sensible thing to do: Abhay Aima, HDFC Securities

"It is not that provident fund is conceptually a very bad thing. It is just that some people think there is a better way"

Employees may save additional tax of up to 3% of their basic salaries if companies roll out NPS

Offering the benefit is one thing and convincing employees is quite another. The NPS is a market-linked product which doesn’t guarantee returns.

A pre-policy rate cut will send wrong signals to the markets: Sudhir Agrawal, UTI MF

"Government can disinvest by bits and pieces every month instead of leaving the big ticket divestment for the end of the year"

Retirement fund body EPFO settles 11 lakh claims in June

Retirement fund body EPFO settled 11.06 lakh claims like PF withdrawals in June, with 38 per cent being settled within three days.

Hold regional committees' meetings: EPFO to field offices

Retirement fund body EPFO has asked field formations to immediately hold their meeting to discuss mandated issues and progress of new moves.

Government plans to cap premature withdrawal of PF money at 75% of total amount

Move is aimed at ensuring social security for workers in old age. EPFO has proposed that employee be allowed to withdraw only 75% of overall kitty, instead of 100%.

How budget 2018 will impact your finances

Read about stories on what to expect from the upcoming budget and the impact the announcements Arun Jaitley's budget speech will have on your personal finances.

Provident fund interest rate revised to 8.8% from 8.75%

Union Labour Minister Bandaru Dattatreya said the hike is an 'interim one' and indicated that it could be further revised later.

Should you invest an extra Rs 50,000 in NPS to save tax?

One should not base the decision purely on tax incentives as NPS falls under the EET regime wherein the tax payment is deferred to a later date.

EPFO settles over 96% claims filed in April-July in set 30 days

EPFO has settled 96.11% of the claims filed during April-July this year within the mandated 30 days period as per their citizen charter.

Trade unions to press for 9% interest on PF deposits for FY16

The unions have decided to oppose any proposal to retain the existing rate of 8.75% for the current fiscal along with a uniform bonus of Rs 200.

5 reasons why you can’t keep the bulls tamed on D-Street for long

Some say the next 10 years will be a golden period for the Indian equity market.

EPFO makes UAN mandatory for all employers under its purview

The deadline for completing the formalities is August 25 after which action will be taken against those failing to comply with the order.

Lok Sabha Polls 2014: UPA fails to implement four major sops announced to woo workers

Centre had promised & approved several measures, including a minimum monthly pension of Rs 1K & higher salary ceilings for mandatory PF & health insurance benefits.

Tamil Nadu has maximum number of firms defaulting on provident fund dues

Tamil Nadu, including Puduchery, also has the maximum number of PF defaulter firms of 1,141 during this fiscal till June- Bandaru Dattatreya

With higher wages, workers slip out of social security net

The weakest sections of the workforce now earn more money with state governments hiking minimum wages.

MoF shoots down plan for 9.5% return on EPF

The stalemate on returns to members of the employee provident fund continues. The Finance Ministry has fired a fresh missive to the Labour Ministry this month, again shooting down the Central Board of Trustees' proposal for a 9.5 per cent return on EPF.

Gujarat announces slew of industry incentives in new IT policy

The state government also declared its e-governance policy for the next five years which aims to create a separate 'IT Cadre'.

How you can save your salary from the taxman post Budget 2018

Your income is taxed under five broad heads. Various tax sops, be it for your salary perks or investments that you make, help reduce your tax outgo.

EPFO passes order against G4S, raises demand of Rs 133.76 cr

Retirement fund body EPFO has raised a demand of Rs 133.76 crore on G4S Secure Solutions, globally known security services provider, for its failure to deposit provident fund due to its employees.

Taxing premature PF withdrawals of over Rs 30k may be kept in abeyance

A decision is expected by the end of this month, the PF department has asked all offices to gear up for deducting tax from all premature PF claims.

UAN is a must for smooth transfer of Provident Fund

An employee is supposed to have a single UAN. Read on to find out what to do in case of multiple UANs and how to avoid it while changing jobs.

How to diversify your investment portfolio

Not all investing stories have happy endings. But there is a way to make sure one bleeding asset class doesn't mar your entire investment basket.

EPFO suspends previous chief R C Mishra's diktat

It had also set a 7-year limitation period for initiating inquiries against firms evading PF dues.

CAG says EPFO earned more, paid less to members in 4 fiscals

EPFO paid lesser amount as interest on PF deposits of over five crore subscribers than its earnings between 2007-08 and 2010-11, CAG has said.

RBI directive on erosion of loan collaterals to hit companies

A Reserve Bank directive that seeks to protect banks from erosion of loan collaterals is threatening to worsen credit flow to slowdown-hit companies.

Narendra Modi govt serving interests of employers: CPI(M)

The party said that despite inspections, "many labour laws and social security schemes like EPF and ESI were not being implemented for large chunk of workers.

Starting financial planning early to help Khandelwal achieve goals

Khandelwal has not been very active on the insurance front. The only cover he has bought is a traditional plan that insures him for Rs 6 lakh.

Employees' Provident Fund Organisation's trustees to meet on November 11

PM is likely to launch the UAN members' portal, which would facilitate over 4 crore EPFO members' to access their accounts online in real time basis.

Tax-saving for young earners simplified

Here's how you can save on tax without locking away your money in long-term investments and without putting a dent in your wallet.

You may soon be auto enrolled in Atal Pension Yojana 

With a view to increase pension coverage in the country, there could be a 'soft compulsion' for employees to join the scheme.

5 things every young investor should do at the start of a new financial year

Young and new investors can take a cue while the old-timers may consolidate their money matters at the start of the FY 2017-18.

Positive change taking place under PM Modi's leadership: Venkaiah Naidu

Observing that Modi wants "speedy and comprehensive development" , Naidu said that 4 .35 crore new bank accounts have been launched under Jan Dhan Yojana.

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