Tue, Nov 26, 2024
EPF Interest Calculation: A private sector employee with at least Rs 15,000 monthly basic salary and dearness allowance (DA) can start contributing to EPF. The current interest rate in the scheme is 8.25 per cent that is subject to review every 3 months. EPF provides tax benefits to its subscribers.
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Mon, Jun 17, 2024
EPF is also a tax saving scheme under Section 80C of the Indian Income Tax Act. Under this scheme, both employer and employee contribute 12 per cent of the employee's basic salary every month. The Employees' Provident Fund Organisation (EPFO) has set the interest rate for the fiscal year 2023-24 at 8.25 per cent, up from the previous year's rate of 8.15 per cent. This judgement affects millions of EPF members around the country.
Tue, Oct 10, 2023
Savings: PF is like a savings account, where you deposit money and can withdraw it when needed. But it is different from savings account. Because, there are some conditions for withdrawing money here. Know the tax responsibilities of the employee in this special offer of Money Guru.
Tue, Jul 25, 2023
The government has increased the rate of interest on Employees' Provident Fund (EPF) deposits to 8.15% for the financial year 2022-23. This is the highest in 4 years and will benefit over 6 crore EPFO subscribers. The higher interest rate will help people save more money for their retirement and other financial goals.
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