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EPF tax rollback a welcome relief to salaried class: Experts

With the rollback of budget announcements, EPF will continue to be an attractive investment option with an EEE scheme.

Rahul Gandhi claims credit for EPF rollback, says my pressure worked

Facing a strong backlash from salaried taxpayers over its proposal to tax withdrawal from EPF, the government has decided to roll back the Budget proposal.

EPF rollback, a victory for common people: Mamata Banerjee

Her statement came soon after union Finance Minister Arun Jaitley withdrew his Budget proposal to tax employees' provident fund (EPF) at withdrawal.

need2know: Tackling wilful defaulters, EPF tax rollbacks and more

For former ‘king of good times’ Vijay Mallya, it is literally pay back time. The debt recovery tribunal has barred him from withdrawing $75 million exit payment from Diageo till the loan default case filed by SBI is settled

Don’t be in a rush to make EPF-NPS switch: Experts

The proposal to switch from EPF to NPS was announced in last year’s Budget. This year’s Budget has extended a one-time tax exemption to such switching.

EPF members could soon switch to NPS, but experts say don’t

Only this time the govt may be unfairly targeted because switching rules it has framed for EPF and NPS are quite flexible and subscriber-friendly.

Govt contribution to NPS raised to 14%, withdrawal made tax free

Under the NPS, the subscriber is eligible to withdraw 60% of the corpus. The remaining 40 per cent of the accumulated fund goes towards annuity.

Budget 2016: Impact of proposed EPF tax & what you should do

The government is under pressure to roll back the proposed tax on Provident Fund. Here’s what you can do if it comes into effect.

Budget 2016: How tax on EPF will pinch young subscribers most

The tax on the EPF is proposed only on the corpus created after April 2016. So, it will have a greater impact on young subscribers.

Confusion on EPF due to bad phrasing in Budget speech: Hasmukh Adhia

"The entire thing happened not because of any illogicality in the step but due to the communication gap," Adhia said at an interaction on Budget.

FM Arun Jaitley to respond on taxing of EPF withdrawals in Parliament: Bandaru Dattatreya

Following a backlash from employees union and political parties, Jaitley has already signalled willingness to reconsider the proposal.

Budget 2016: Government to notify categories of employees exempt from EPF tax

Government will notify categories of employees who will be excluded from the controversial tax proposal on provident fund withdrawals.

Budget 2016 impact: Younger subscribers worst hit by EPF tax

Older subscribers to employees’ provident fund who have periodically dipped into their corpus will also see a big chunk of their savings go into tax.

Rahul Gandhi demands rollback of proposed EPF withdrawal tax

Congress Vice President Rahul Gandhi today demanded that PM Narendra Modi roll back the proposal for taxing employee provident fund withdrawals.

Companies weigh options on EPF contributions, ask staff to wait

Experts have advised companies to consider restructuring the compensation package, by allowing employees to limit their PF contributions within the statutory caps.

Budget 2016: Cap on employers’ EPF contribution may be scrapped

Jaitley proposed in his Budget that 40% of withdrawals from National Pension Scheme (NPS) would be tax free and sought to bring EPF on a par with this.

Over 1 lakh people support online campaign against EPF tax

Vaibhav's Change.org petition has been shared widely on Twitter and Facebook and continues to gather more signatures rapidly.

Why EPF still remains a good bet for investors despite rate cut

EPF is still attractive and government savings bonds and mutual funds are likely to offer better returns going ahead.

Govt hints at partial review as salaried class rages at EPF tax

While there are indications that the govt may alter some of the elements of the proposal, it doesn't appear willing to climb down completely.

Budget 2016: Opposition, trade unions oppose tax on EPF withdrawal

The government’s proposal to tax a portion of withdrawals from recognised provident funds drew strong criticism from major opposition parties and trade unions

Budget 2016 makes EPF taxable, NPS gets tax break

While the Budget has introduced tax parity for all pension products, it has removed several advantages enjoyed by EPF investors.

Budget 2016: 60% of EPF deposits to be taxed on withdrawal after April 1

At present, social security schemes run by retirement fund body EPFO are tax free EEE scheme under which deposits, accrual of interest and withdrawals are tax free.

Economic Survey 2016 wants employee contribution to EPF be made optional

The survey has suggested that employees could be allowed to choose whether or not to save 12 per cent of their salary into EPF or keep it as take home pay.

Labour Ministry seeks to retain 8.8 per cent interest rate on EPF deposits

The government had to roll back the decision and provided 8.8 per cent rate of interest on EPF deposit for last fiscal following protests by trade unions.

With 8.8% tax-free returns, EPF can be bulwark of retirement plan

The interest rates were already linked to the government bond yields and were revised once in a year. Now they will be revised every quarter.

Which of the three pillars of retirement is most important for you?

For someone looking to save for retirement it helps to understand what each pillar is and how they are going to impact their retirement savings.

Labour Ministry seeks Cabinet approval for EPF amendment bill

EPF Amendment Bill seeks to provide an option to EPFO subscribers of choosing between EPF and New Pension System.

Demonetisation: Rise in bond prices pushes up NPS returns but EPF rate may be cut

NPS investors split their corpus across three different classes of funds so ET Wealth looked at blended returns of different types of investors.

New Provident Fund rules explained and how they would impact you

Rules of Employees Provident Fund have been changed to make the scheme more user-friendly. Read this to know the changes and what they mean for you.

ESIC payroll data suggest 1.6 crore new jobs created in 13 months till September: CSO report

As many as 12.14 lakh new member had joined the Employees' State Insurance Scheme in September, stated the report of Central Statistics Office.

Family finance: Why salaried Shah couple can achieve money goals easily

Ahmedabad based couple get a combined monthly salary of Rs 1.64 lakh. Their goals include creating an emergency fund, buying an office, kid's education and wedding.

Does EPFO really have enough money left for the year after IL&FS? FinMin wants to know

Does EPFO have sufficient surplus left for honouring this year's interest rate? The jury's still out.

Here's a quick comparison of interest rates on tax-saving debt investments

But before you get down to choosing a tax saving investment you should probably first calculate how much you need to invest to save tax.

Union Budget 2018 for women: Higher take-home pay, free gas connections in rural India

From urban working women to rural homemakers, Finance Minister Arun Jaitley rooted for the ladies.

Law Ministry vetting Bill to amend EPF & MP Act

The proposal to provide an option to choose between EPF and NPS for over 5 crore subscribers of the retirement fund body EPFO has been sent to the Law Ministry for vetting.

Family Finance: Why Joshis have enough time to build sufficient corpus for all financial goals

Hyderabad-based Joshi's goals include saving for emergencies, taking a vacation, saving for the child’s education and wedding, and retirement.

7 long-term investment options that can help meet short-term money needs

Some flexi-features of long-term instruments can help meet short-term needs. Here is a look at few of the available options.

Government notifies 8.55% interest on PF for 2017-18, lowest in 5 years

The finance ministry had ratified 8.55 per cent rate of interest on EPF for the last fiscal. But it could not be implemented because of model code of conduct for Karnataka elections.

Amit Shah assures BMS on tripartite talks, ministerial panel on labour reforms

At a meeting, Shah gave assurance to leaders of the central trade union on a host of issues related to workers, BMS said in a statement.

Govt to consider unions' reservations in EPF Act amendments

The move was proposed under the amendments to the Employees' Provident Fund & Miscellaneous Provisions Act.

Steep decline in bond yields may force a cut in EPF and PPF rates

ET reached out to 25 finance professionals, including mutual fund managers, investment analysts and independent financial advisers, for their views.

Labour Ministry goes all-out to get House nod for EPF amendments

According to the revised definition of wages, all emoluments or remunerations including all allowances would be payable to an employee in cash.

Bill to amend EPF Act likely in Budget session

The government is likely to introduce a bill to amend the EPF & MP Act in the budget session of Parliament with the objective of bringing more workers under the social security benefit among other things.

EPFO may retain 8.65% interest rate for FY18

Retirement fund body EPFO is expected to keep interest rate unchanged at 8.65 per cent on provident funds for its about 5 crore members for 2017-18.

Bonanza likely for Employees’ Pension Scheme pensioners

Such a move would benefit at least 4 million people and cost the Centre a minimum Rs 3,000 crore annually if implemented, the person said.

Hot tips that will lead to cool savings on tax

An individual taxable at 30% can save Rs 45,000 if he claims Rs 1.5 lakh as deduction under section 80C.

Family Finance: High savings to help salaried Dalals meet goals

Build an emergency corpus for your financial goals well in advance. Invest in balanced funds for down payments and EMIs can be funded from your salary.

Why NPS investors shouldn’t worry about the fall in returns

Active NPS managers follow a multi-cap strategy to invest in stocks outside the Nifty and hence underperform when the market is biased towards large-caps.

New EPF Act may oblige small firms with 10 or more staff to deduct PF from workers' salary

Government plans to amend the EPF Act to bring more workers under the ambit of EPFO by reducing the threshold for coverage of firms to 10 workers, Lok Sabha was informed.

Pradhan Mantri Shram Yogi Maan-dhan: All you need to know

It is a voluntary and contributory pension scheme, under which the subscriber would receive a minimum assured pension of Rs 3,000 per month after attaining the age of 60 years.

Proposal to reduce threshold limit for coverage under EPF

Replying to another question, the Minister said that at present there is no proposal to provide any minimum wage pension to all workers of unorganised sector.

How a salaried person with income up to Rs 7.75 lakh can now pay zero tax

As per Budget, individuals with annual income up to Rs 5 lakh will get full tax rebate under section 87A.

What Budget 2019 can do to reduce your tax burden

Interim Budget 2019 could offer individual taxpayers certain benefits and tax exemptions, which will have a positive impact on personal savings, retirement benefits and so on.

This year, we will invest Rs 8,000-9,000 cr EPF funds in equity: Shankar Aggarwal, Labour Secy

As per the limits fixed by FinMin and the by the Ministry of Labour and Employment, EPFO can go up to an extent of 15% of the investible funds but we had to be very cautious.

Rs 6,000 crore EPF money to be invested in equities by March 2016

Investment would begin with 1 per cent of EPF- related money which could eventually go up to 15 per cent, said Union Minister of State for Labour Bandaru Dattatreya.

All you need to know about the Employees' Provident Fund

Here are articles on how to calculate your PF balance, how to check your EPF balance, benefits of linking your EPF to your Aadhaar and so on.

Family Finance: Why Ray will not face any problems in achieving financial goals

Aritro Ray works in private sector and gets a monthly salary of Rs 1.65 lakh. His goals include saving for emergencies, future child’s education and retirement.

ET View: Congress Manifesto a 2+13 Letter of Intent

Much of what appears in the Congress manifesto has been already announced by party president Rahul Gandhi.

Family finance: Why Pune-based Agarwals are on the right track to achieving their money goals

Aggressive saving and investment means Pune-based Agarwals will have a smooth financial journey.

How to know your PF claim status

EPFO has introduced several measures to bring down the claims settlement period and aims for the settlement of claims within 5 days.

How to merge two or more EPFO accounts

With the introduction of the Universal Account Number, it is possible to consolidate multiple accounts into one single account for each EPFO member.

Old age dependency ratio getting worse in India underlining need to save for retirement

Retirement is not the same anymore. Not saving enough while there's time could leave you to a dreadful fate.

Now pensioners can view passbook using Umang app

A labour ministry statement said 'View Pension Passbook' service for pensioners will be available through Umang app.

Four keys to unlock your EPF before its time

The Finance Ministry is now reconsidering the Budget provision to impose TDS on premature provident fund withdrawals of Rs 30,000 or more.

EPFO directs offices to pay higher pension to eligible EPS members

Supreme Court ruled in favour of employees' right to raise their contributions to the pension fund without imposing any cut-off date for eligibility.

Can you also get a manifold hike in lifetime pension from EPFO? Find out

Can all EPFO members get higher pension if they opt to raise their EPS contribution? Yes, all those who joined before Sept 1, 2014 can contribute on their full pay.

Section 80C basket may get skewed in favour of EPF, say experts

Some experts say investors can look at calibrating their Section 80C savings towards the Voluntary Provident Fund rather than PPF that currently fetches 8.1%.

Government gives in to pressure, EPF interest rate increased to 8.8% from 8.7%

The backpedalling follows the uproar sparked by the finance ministry scaling down the 8.8% recommended by the CBT of the Employees’ Provident Fund Organisation (EPFO).

Let EPF be: On provident fund and retirement benefits, don’t be a bull in a china shop

Successive governments are unwilling to carry out even a simple income tax reform which would link taxation threshold to inflation.

Garment factory staffers bring Bengaluru to its knees in day two of protest against EPF amendment

Over 10,000 workers in Hebbugodi vandalized the Hebbagodi police station and set fire to vehicles, including police and public transport vehicles.

Check these 7 tax savers before you invest again

It's always better to plan your tax saving investments in advance than make the wrong moves at the fag end of the financial year.

EPFO may bring 500 small private PF Trusts into its fold

According to an analysis by the EPFO, there are 1,550 private PF trusts having total subscribers of over 82 lakh employees. These trusts are managing around Rs 3 lakh crore corpus.

Here are five smart things that you should know about EPF contributions

8.33% is contributed towards Employees Pension Scheme (EPS), with a cap of Rs 1,250 or 8.33% of Rs 15,000.

Workers may get to choose between EPF and New Pension Scheme for pension

The proposal is part of the bill to make comprehensive amendments to the Employees' Provident Funds and Miscellaneous Provisions Act 1952.

How to check PF balance: Here are 4 ways

One can check the EPF balance anytime from the comfort of their home or office using these routes - online, Umang App, SMS, or by giving a missed call.

You can now withdraw 75% of PF one month after quitting job

At present, in case of unemployment, a subscriber can withdraw his or her funds after two months of unemployment and settle the account in one go.

The difficulties of managing debt funds in India

Depending on the financial plan, risk appetite based asset allocation for many may have a debt allocation.

Will I be able to create a corpus of Rs 10 crore in 25 years?

If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

EPF may be cut on entire pay package, not just basic

The Centre is trying to reintroduce a proposal, which will result in higher transfer to the provident fund but will reduce your take-home salary.

How to report tax-exempt incomes in ITR-1

This year in ITR-1, tax-exempt incomes have to be reported in the tab, 'Computation of income and tax'.

RSS' trade arm threatens nationwide protest over labour rules

Bhartiya Mazdoor Sangh has threatened to go a nationwide protest on September 6.

How EPFO's unified portal can help employees

Although it is still not mandatory for one to link their UAN to Aadhaar, doing so can make life simpler and the claims settlement process can be a breeze.

SC ruling enables massive rise in private sector pensions

Every employee in the organised sector contributes 12% of basic salary and dearness allowance to EPF. The employer makes a matching contribution.

EPF tax withdrawal: Long-term vision for retirement plan needed, says Amarpal Chadha, EY

"People need to build a bucket for retirement and we need to ensure that the bucket remains tax free"

EPF Tax withdrawal: Tax incentives needed to make investment a habit, says Nilesh Shah, Kotak AMC

"Education, experience and simplification needed to change people's investment habits and make them invest in pension products"

EPF Tax: Savers had not been given choice in the Budget proposal, says Dhirendra Kumar, Value Research

"The intent behind the EPF tax was not questionable but there were components in it that were not accepted"

PM Narendra Modi steps in, tells Arun Jaitley to hold tax on EPF withdrawal

Trade unions, including RSS-backed Bharatiya Mazdoor Sangh, BJP MPs, along with Congress and other opposition parties have joined the protest.

Budget 2016: NDA allies Shiv Sena and Shiromani Akali hope for EPF tax rollback

Shiv Sena and Shiromani Akali Dal as well as the trade unions, including RSS -affiliated Bharatiaya Mazdoor Sangh, hoped for a rollback of EPF tax.

FM Arun Jaitley to spell out final stand on taxing EPF in Budget debate

"The revenue department had considered various aspects of the National Pension Scheme and Employee Provident Fund Organisation (EPFO)", he said.

Budget 2016: EPF tax whammy may push VPF out of favour; equity, debt MFs to gain

Salaried individuals, many of whom opted to save through additional contribution to their VPF, could now shift to tax-free bonds or debt mutual funds.

Budget 2016: Despite clarification from finance ministry, confusion over EPF taxation remains

The finance ministry clarified on Tuesday that 60% of the contributions made from April 1, 2016 and the interest they earn will be taxed at the time of withdrawal.

Budget 2016: As BJP weighs political fallout, Arun Jaitley to clarify the EPF taxation move in Parliament

According to sources FM Arun Jaitley will formally calm the nerves over taxation on withdrawal of EPF corpus,in Parliament during a discussion on the budget.

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